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A virtual credit card is a set of 16 digits randomly generated together with a CVV (Card Verification Value) code that you can use to make purchases of goods and services online. Virtual credit cards work exactly like your physical bank cards. They are temporary numbers linked to your actual credit card numbers. When you use your virtual card to make payments online, you'll see the transaction details on your bank account statement as if you had used your actual card information. In 2020, credit card fraud resulted in an estimated loss of an estimated $11 billion.