The people of Africa have long faced difficulties in accessing international financial instruments. Restrictions imposed by local banks and the high volatility of the national currency have compelled many to seek alternative solutions.
Virtual banking cards in dollars have become such an option, particularly for those engaged in international transactions or freelance work. They enable users to pay for subscriptions, make online purchases, and even invest in their businesses.
Why are virtual cards necessary?
A simple dollar card solves many problems. For example, consider a freelancer working for an international client. They are paid in dollars, but spending this money is challenging. Bank transfers are expensive, and converting funds through intermediaries is time-consuming and accompanied by hidden fees. With a virtual card, they can easily spend their earnings—for instance, by paying for overseas courses or purchasing equipment on international platforms.
Another example is a family person sending money to children studying abroad. A virtual card allows for instant and cost-effective transfers, ensuring funds are available when needed.
Top 3 virtual card services in USD
PSTNET
The Ultima card is a virtual Visa/Mastercard for online payments. It is multi-currency, providing its owner with two fiat accounts: dollar and euro. It is issued by the financial service PSTNET, which allows users to create cards for a variety of purposes.
These cards can be used for hotel bookings, airline tickets, travel, purchasing digital products, subscribing to services, and general shopping.
Features:
- Security: 3D Secure, two-factor authentication
- Telegram Bot: For 3D Secure codes and service notifications
- Card Funding: Supports 18 different cryptocurrencies (Bitcoin, USDT TRC20, ERC20), SWIFT/SEPA bank transfers, or other Visa/Mastercard cards
- Registration: Via Google, Telegram, or Apple ID, as well as email
- Customer Support: 24/7 availability through Telegram, WhatsApp, and website chat
Bitnob
The Bitnob service offers virtual dollar cards that are prepaid Mastercard cards. They are designed for online purchases on any platform supporting this payment system. The service targets users who wish to manage their finances through cryptocurrency and digital wallets.
The maximum card balance depends on the amount in your USD account in Bitnob. Top-ups are possible up to $10,000 per transaction.
Features:
- Security: Two-factor authentication
- Card Funding: USD wallet within the Bitnob app
- Registration: To issue a card, download the Bitnob app, sign up, fund your USD wallet, and select the virtual card option in the action menu
- Customer Support: 24/7 through the app
Geepay
Geegpay is a financial platform for freelancers, remote workers, and professionals in Africa. It allows users to issue virtual dollar cards or manage multi-currency accounts. The platform’s cards support various currencies, including British pounds, dollars, and euros. Card management is conducted through a digital wallet in the app.
Features:
- Security: 3D Secure
- Card Funding: SEPA/SWIFT bank transfers and other cards, including local bank cards
- Registration: Through the mobile app
- Customer Support: 24/7 via in-app chat
Why are virtual cards convenient for Africans?
Local residents know how challenging it can be to access international payment systems. Foreign currency accounts are often unavailable, and transactions through traditional banks may be blocked due to sanctions or regulatory restrictions. Virtual cards address this issue.
For instance, if you want to make a purchase on Amazon or pay for a Netflix subscription, a virtual card becomes a convenient and fast solution. Additionally, these cards help avoid security problems, as they are not linked to your primary bank account.
How to choose a card?
When selecting a virtual card, consider the following factors:
- Ease of Registration: Many services require identity verification or documentation, which may be difficult to obtain in Africa. Ensure the registration process aligns with your capabilities.
- Payment Systems: Visa and Mastercard are the most widely accepted networks. Choose cards compatible with one of these systems.
- Transaction Limits: Some cards impose usage limits. If you need to conduct large transactions, verify that the card meets your requirements.
- Fees: Check the terms for card funding, money transfers, and currency conversion. Hidden fees can significantly impact your budget.
- Customer Support: A service with 24/7 English-language support is more convenient for African residents.
There are situations where using a virtual card is not just a convenience but a necessity. Today, the market offers numerous options, but only a few services provide truly advantageous conditions for residents of Africa.
