Personal Finance

Ditch Your Wallet & 'Carry' Around This Virtual Credit Card Wherever You Shop

28 August 2023

It’s no secret that we’re living in an increasingly cashless world. Bank notes have become inconvenient pieces of paper that take up way too much space in our already-bulky wallets. Sure, we still rely on them for some things, but for the most part, the majority of us can go through an entire day relying solely on cashless payments.

One of the world's first transitions into going cashless comes in the form of credit cards. We only need to count on a couple of them (at most) for all our payment needs. They’re nearly paper-thin, take up less space in our wallets, and give us the freedom to pay for online and offline items.

Virtual credit cards take that technological advancement a step above, ridding people like you and me of the physical need to even carry anything in our pockets or purses, payment-wise.

Take the Alliance Bank Visa Virtual Credit Card, for instance; touted as Malaysia’s first in-app virtual credit card.

First, what’s a Virtual Credit Card (VCC)? It works just like a physical credit card but exists only in virtual form via an app on your smartphone. This means you can effectively leave your wallet at home.

But saving physical space isn’t the only benefit you get with an Alliance Bank Visa Virtual Credit Card.

Here are four reasons you should go virtual with the Alliance Bank Visa Virtual Credit Card:
  1. Have peace of mind and added security with a Dynamic Card Number.

    When making online or offline transactions, be it e-commerce or otherwise, you’re essentially exposing your card number to anyone (or anything) that requires your card information for payment.

    The Alliance Bank VCC solves this problem with a Dynamic Card Number (DCN), which intelligently generates and assigns a randomised 16-digit card number, allowing you to withhold your real card number in any transaction. For security reasons, this 16-digit DCN changes every 30 minutes, making it difficult to replicate for multiple long-term transactions.

    Using it is extremely simple – just generate a number in your allianceonline mobile app (available on iOS and Android), copy it, and then paste it in the relevant e-commerce platform of your choice. RM25 SST is only charged on a yearly basis to your VCC Static Card. Any additional DCN created will not incur any additional SST charges.

  2. Take full control of your subscriptions by setting your own spending limit for every recurring payment.

    When you generate your 16-digit DCN, you can also set a spending limit to control just how much you pay for specific transactions. You can use this feature in tandem with a customisable expiry date (set by you) to take full control of paid subscriptions and other recurring bills. This ensures you only pay the amount that you set during the timespan that you specify.

    Why is this useful, you may wonder? If you, like this writer, tend to subscribe to a lot of services online, you eventually find yourself losing interest in some of them over time. Here comes the risk of forgetting about these subscriptions thanks to our busy lives, leading to unwanted payments and unnecessary transactions.

    By setting a spending limit and expiry date, you’re able to control how much (and how long) you want to spend on those subscriptions.

  3. Freeze or unfreeze your card at the tap of a button.

    Technological advancements have changed the way we pay for things, but this also means that cyber criminals have also gotten a lot more sophisticated. With real-world problems such as identity theft, it’s more important than ever to sure you take the necessary steps to protect your data (and hard-earned money) at the tap of a button.

    With the Alliance Bank Visa Virtual Credit Card, you can freeze your card through the mobile app if you notice any irregular or suspicious transactions. Best of all, you can also unfreeze the card whenever you feel it’s safe to use – no phone calls to the bank needed, no questions asked.

  4. Customise the look of your different VCCs to suit your unique personality.

    Using a VCC gives you the ability to generate and customise a variety of cards for specific purposes. Whether you've got one dedicated to paying phone bills, another for shopping, and whatever else you can think of, you'll want to differentiate the way they look for easier reference in the mobile app.

    Instead of monotony, the allianceonline mobile app lets you embrace creativity and uniqueness by giving each of your VCCs their own fun look. You can change their brand – for example, a VCC used to pay for phone bills can feature the logo of your telco – and you can even change the colour of the VCC to your liking.

Interested? Here's how you can get your very own Virtual Credit Card with Alliance Bank.
Free yourself from the hassles of carrying around those pieces of plastic in your wallet. Embrace virtuality with the Alliance Bank Visa Virtual Credit Card.

Just follow these easy steps and you're all set:

Download the allianceonline mobile app, available on both iOS and Android.

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