How Virtual Cards are Changing Online Payments
Virtual cards are taking over online payments. Here's why, and how you can get a virtual card that works.
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Ever since Chipper Cash and Geegpay launched, they have both offered entrepreneurs, freelancers, businesses, and, generally, everyone in their regions a convenient and secure way to make online transactions. For instance, both platforms offer virtual accounts that users can use to send and receive payment in foreign currencies. While Chipper Cash’s USD virtual account cost N5000 to create, creating a USD virtual account on Geegpay is free.
However, this post is not about virtual accounts. It’s about the virtual dollar card feature that both Chipper Cash and Geegpay also offer. If you want to know which one is right for you, this post will help.
You can use both the Chipper Cash and Geegpay virtual dollar cards to pay for Youtube, Facebook, X and other social media ads. You can also use both virtual cards to pay for online courses, subscribe for work tools like Canva, Photoshop, Inshot, ChatGPT, shop on your favourite online stores like Amazon, Ali Express, Shein, & Zara, or pay for your favourite streaming services like Spotify, Apple Music, Netflix, Prime Video, and so on.
While both cards share similarities, there are also some key differences. Firstly, Chipper Cash offers a VISA USD virtual card while Geegpay offers a Mastercard USD virtual card. Both cards are 3D Secure, meaning that there’s an extra level of security attached to the cards to ensure your transactions are secure.
Let's also look at the fees attached to each of these cards, as this is an important factor when making international payments. You want to ensure you’re getting as much value for your payments as possible. Here’s a breakdown of the fees attached to the Chipper Cash and Geegpay virtual dollar cards as at the time of writing this post:
Virtual Card Creation
While both Chipper Cash and Geegpay charge a one-time virtual card creation fee, Chipper Cash’s fee is significantly higher at $3, compared to Geegpay $1 fee.
Instant Use
Once you create and fund your card on Geegpay, you can use it immediately to make transactions. However, with Chipper Cash you might have to wait up to 24 hours for your default card details to change and then you can start making payments.
How many Virtual Cards can one user have?
You can only have one USD virtual dollar card on Chipper Cash. While on Geegpay, you get the option to create up to 2 USD virtual cards. This feature allows you to use your cards for different purposes and for easy organisation.
Minimum Balance Requirement
Neither Chipper Cash nor Geegpay have a mandatory minimum balance requirement. However, Chipper Cash charges a monthly maintenance fee of $1 on the 28th of every month, so it's wise to maintain some balance in your Chipper Cash USD card to prevent unexpected fees.
Conversion Rates
Currently, Chipper Cash converts from NGN to USD at 1647 while Geegpay converts at 1550. So, at this time, Geegpay’s exchange rate is 97 NGN better than what Chipper Cash offers.
Apple/Google Pay Support
You can add your Chipper USD card details to your Apple account. But currently, Chipper Cash USD virtual cards are not supported by Apple Pay or Google Pay. This means you can't directly use your Chipper card for contactless payments through these mobile wallets.
On the other hand, Geegpay allows you to add your card to your Apple Pay or Google Pay. This means you can make contactless payments. It’s a convenient way to make payments when travelling or shopping abroad.
The Verdict: Chipper Cash USD Virtual Card vs Geegpay USD Virtual Card
Both Chipper Cash and Geegpay offer great options for virtual dollar cards. However, if you want one that is instant, has cheaper fees, better conversion rates, and offers you more features, then Geegpay is the better choice for you.
Here’s how to get your Geegpay Virtual USD Card:
Step 1 - Log in to the Geegpay app and click ‘Cards’ on the dashboard.
Step 2 - On the Cards page, tap ‘Create Card’.
Step 3 - Customise your card by adding a name and selecting from the colour options available, then click ‘Continue’.
Step 4 - Fund your card from any of your wallets and tap ‘Create Card’.
Once you've successfully created your card, your card details are visible and your card is ready for use instantly on all your favourite online websites and platforms.
So, ready to embrace instant global payments? Head over to the app to create a Geegpay Virtual USD Card.
Sources:
Using Chipper Cash card on Apple
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