Hi all, it’s Rachael from US Marketing, and I’m here to tell you about our virtual cards, our first feature launch to kick off the new year
But wait… what is a virtual card?
Virtual cards are just like a real card, with unique card numbers and CVCs. They’re great for when you don’t want to use your physical card details. (Like for example shopping on a website you’re not too sure of). You can also add them to Apple Pay or Google Pay to use them in person.
Three settings to choose from
Free trial cards - These cancel after the card is checked, so you won’t be charged later.
Single-use cards - These cancel after one purchase, so you can shop with peace-of-mind
Standard cards - You can use these for repeat uses and set an auto-cancel for when you don’t need it anymore.
As always, we’d love to hear your feedback!
We’d love to know how you’re using the cards, and if you have any questions.
This is going to be an exciting year for Monzo US so stay tuned for more!
Anyone think, that maybe, the increased interchange fees in the US mean they don’t have to charge for these bits of functionality, whereas they choose to in the UK?
Come to think of it, I wonder how often these virtual numbers can be recycled? Surely once a number is “burned” it would be incredibly wasteful if it couldn’t be reused at some point in the future.
They could generate around 10 billion to 1 trillion unique cards per BIN before they’d need to start worrying about reusing them.
There’s no concern of them running out, wasting, or needing to reuse them, really.
And if/when we ever reach that point, they can always just make the string of numbers longer, or move towards a numberless tokenised system, that systems like Apple Pay, and numberless cards, already have paved the way for.