Virtual Credit Card in Canada

A virtual credit card is a digital card used for online, in-app or contactless payments. It has a card number, expiry date and security code, but it does not require a physical card.

Some virtual cards draw from a credit limit, while others are prepaid. KOHO offers a virtual prepaid Mastercard, which means you spend money already added to your account instead of borrowing on credit.

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 a Virtual Card For?

You can use a virtual card for:

• Online shopping

• Recurring subscriptions

• In-app purchases

• Travel bookings

• Food delivery

• Contactless payments through a mobile wallet

The KOHO Virtual Card works online wherever Mastercard is accepted. Some merchants may choose not to accept prepaid cards.

Are Virtual Credit Cards Secure?

Virtual cards can provide more control because you can manage them directly through an app.

You should still use trusted websites, avoid sharing card details and regularly review your transactions.

Do You Need a Physical Card?

You do not need a physical KOHO card for eligible online, in-app or mobile wallet purchases.

A physical card may still be needed for ATM withdrawals or merchants that do not accept contactless payments.