Best Virtual Credit Card in Canada

The best virtual credit card in Canada should provide immediate access, broad merchant acceptance and simple security controls.

KOHO offers a virtual prepaid Mastercard rather than a traditional credit card. You spend money already added to your account, so there is no credit check, borrowed balance or interest on purchases.

KOHO Virtual Card: Best Pick (Virtual Credit Card Alternative)

With the KOHO Virtual Card, you can:

• Open an account and get your card instantly

• Earn 3.5% interest on your entire balance

• Earn up to 6.5% cash back on select merchants

• Lock and unlock your card instantly in the app

What Can You Use the KOHO Virtual Card For?

You can use the card for:

• Online shopping

• Recurring subscriptions

• In-app purchases

• Travel bookings

• Food delivery

• Contactless mobile payments

A physical card is still required for ATM withdrawals and may be needed at merchants that do not accept contactless or prepaid cards.

Are Virtual Cards Secure?

Virtual cards provide digital security controls that can help protect your account.

KOHO lets you lock your card through the app, receive transaction alerts and replace the Virtual Card if its details are compromised.

What Should You Look for in a Virtual Card?

Compare:

• Account and transaction fees

• Merchant acceptance

• Mobile wallet compatibility

• Foreign transaction fees

• Card-locking controls

• Transaction notifications

• Replacement options

For Canadians who want immediate virtual card access without applying for credit, the KOHO Virtual Card provides a prepaid alternative for online and mobile payments.