What Vendors Need to Know About the Digital Voucher and Bill Payment Market on Peerwallet
Thursday 29th of August 2024
Introduction
In today's post, we'll be walking you through the process of funding your virtual debit card on Peerwallet. We'll go over what a virtual debit card is, how it works, and the steps you need to take to get started. By the end of this post, you'll be ready to use your virtual debit card to make purchases online or in-app. So let's get started!
What is a Virtual Debit Card?
A virtual debit card is a digital version of a physical debit card that can be used to make online or in-app purchases. Virtual debit cards are issued by banks or financial institutions and are linked to your checking account. This means that you can use your virtual debit card to make purchases anywhere that accepts debit cards without having to carry around a physical card.
How Does a Virtual Debit Card Work?
Virtual debit cards work just like physical debit cards. When you make a purchase with your virtual debit card, the funds are transferred from your checking account to the merchant. You can also use your virtual debit card to withdraw cash from ATMs. The only difference is that a virtual debit card is a digital payment method, so you don't need to carry a physical card with you.
Step-by-Step Guide: How to Fund Your Virtual Debit Card on Peerwallet
Step 1: Login/create an account
The first step is to log into your peerwallet account. If you do not have a peerwallet account, you can register here.
Step 2: Complete the verification for new users
For new users, you have to complete your verification on the platform before you can carry out any transaction peerwallet.
Step 3: Fund the account
Once you are verified, the next step is to fund your Peerwallet account.
Step 4: Access the marketplace to fund your account
Go over to the marketplace section on your dashboard and click on add funds
Step 5: Select your desired merchant to fund your account
Select from the pool of merchants that meets your payment method and your currency requirements. For instance, if you want to fund your peerwallet account using crypto, you would select a merchant that offers to sell funds to you in your desired currency and is willing to get paid in crypto. There are thousands of merchants to choose from.
Step 6: Time to create a virtual card
Once your account is funded, it now time to move over and create your virtual card. To do this go to your sidebar in your dashboard and click on "My Shop".
Step 7: Create a virtual card from a pool of merchants
When in my shop, search for a merchant that creates virtual cards that meets your condition. It can be based on currency, region, card type, payment options, etc. Check the details for creating the virtual cards - the creation fee, loading fee, transaction, and other information.
Step 8: View your virtual card
Once your virtual card is created, it is now time to fund it. Go over to "My shop" again. This time you should see "Active" on your card if your card creation was successful. Click on "View cards/transactions". On this page, you can see your card balance, and card details (including name, card number, CVV, and card exp date).
Step 9: Fund your virtual card
To fund your virtual card, click on "Load Card". You would be asked the amount you wish to load. Input your desired load amount and click on "Add to Card Balance".
Step 10: Final step
Confirm that you want to load the card balance. Once done you can either have a prompt of a successful load (if the balance in your peerwallet account is sufficient to load the card) or you can have an error message (if you have insufficient funds in your peerwallet account to load the card).
That's it! Once you've funded your virtual debit card, you're ready to make purchases online or in-app anywhere that accepts debit cards.
Conclusion:
Virtual debit cards are a great way to make online or in-app purchases without having to carry around a physical card. If you're looking for a step-by-step guide on how to fund your virtual debit card on Peerwallet, look no further! Follow the steps in this post and you'll be up and running in no time.
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