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How Does A Virtual Visa Card Work & How To Choose A Provider

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Virtual Visa Card

If you have recently become curious about the idea of virtual visa cards, then there is a chance that you have a reason to not only learn about these but also start using them.

You might be running an e-commerce company and you might have realized that the benefits of using these virtual financial tools are large and that your business definitely needs them. Or, you might simply be curious about how all of this works without having any actual intentions of using the solution.

Well, whatever your case may be, I am sure that you could largely benefit from a credit card with virtual number, which just means that you might get quite interested in using these tools after learning about them, even if you don’t have any intentions of doing it right now.

The fact that you are here tells me that you are interested in these instruments and solutions, which is why I don’t buy the idea that you are just curious and that you have no intentions of actually using the tools. After all, you are showing interest and that immediately means that there are some intentions, no matter how deeply buried they might be right now.

I am not here, however, to dissect your mind and try to figure out why it is that you are interested in learning about these instruments because that is practically irrelevant to me. I would, however, urge you to think about those reasons and intentions you have all on your own because that might reveal a few things to you.

Most likely, it will reveal that you are subconsciously rather drawn to these cards and that you are aware of how beneficial it can be for you. As previously said, though, I’m not here to take wild guesses regarding that.

What I am here for is this. I will help you understand precisely how a virtual visa card works, which will lead you towards getting a completely clear picture of it all and thus decide if you want to use this option, or if you would like to continue ignoring it. It is especially important for digital company owners to read about these solutions because they are the ones who benefit the most from these virtual visa cards.

In any case, as I am quite sure that you will become even more interested in using these once you realize how they work, I will do one more important thing for you. In short, I will tell you a bit more about how you should go about choosing the right provider for you, because there are certainly various different companies out there ready to offer you their virtual cards, and you cannot just randomly pick out one of those. Well, yes you can, but that’s not quite wise. Anyway, let us take things one step at a time.

Here’s a comprehensive explanation of virtual cards: https://money.usnews.com/credit-cards/articles/virtual-credit-cards-explained

Virtual Visa Card works

How It All Works

Since we will be taking things one step at a time, it is only logical for us to begin with the step of showing you how all of this actually works, since you cannot go any deeper into the topic if you still don’t know this. I know that it might all sound a bit confusing and puzzling in the beginning, especially if you have never had the chance to listen to anyone who knows their way around these virtual instruments, but here’s the thing. It is all actually pretty simple. You just need to go through the initial stage of confusion and do your learning, which is when you’ll realize the simplicity of it all.

So, a virtual visa card is basically a set of numbers that are generated completely randomly and that represent your visa or your bank account. While you can use these random numbers to complete online transactions, the good thing is that thieves cannot use them in order to breach your account and basically get your personal information and your money. The random numbers that you will use, for example, today to complete certain transactions will automatically get reset after the transactions have been done, which further makes it impossible for those thieves to steal your information.

The explanation above has probably helped you realize that these virtual options are much safer than the traditional ones that we are all used to. Well, that is precisely why businesses are increasingly turning towards using them in their daily online operations. That is also why I previously mentioned that digital company owners will largely benefit not only from learning about these cards but also from starting to use them. Read more about those benefits.

Given the popularity of these virtual options, there is talk that they will actually become a must for businesses in the future. Even if that does not happen to be the case, every single company owner who starts using them will swiftly become aware of their importance, because they provide better security, and security is the one thing that businesses should never lose sight of. So, it might be a wise idea for you to swiftly start transitioning towards this particular solution, as it can be much safer for your business.

Virtual Visa Card works1

You probably have a better understanding of how all of this works right now, but there is a small chance that you need some further explanations, so let me provide those for you. Basically, this virtual visa card represents your specific account, but it is actually nothing but a set of random numbers and, of course, a CVV code that will be instantly generated for you. So, you can use it just like you would use your traditional card and there is no waiting period here. In other words, you can start completing transactions the moment you generate those numbers I’ve mentioned.

If you’re not sure how this functions money-wise, let me explain that as well. When you make a transaction with this virtual instrument, the actual cost will be routed back to your underlying account, i.e. the one that is linked to the random set of numbers that you’ve received, meaning that you’ll easily get charged for whatever it is that you have bought. After you’ve completed the purchasing process, the automatically generated number will just as automatically expire, which brings us back to the fact that those numbers are practically useless to potential thieves that might try to steal your information and your money.

Since these cards are not made from plastic given that they are, well, virtual, you can only use them for online transactions. So, if you were planning on giving these random numbers to brick and mortar stores when doing your shopping, you should know that this is impossible. Those stores aren’t equipped to accept virtual cards, but the Internet very well is, meaning that you can easily use them to make online purchases from any suppliers and merchants that accept visa cards in general. Given that we’re all shifting to online shopping in general, I’d say this is enough.

Virtual Visa

How To Choose A Provider

Now that you comprehend what virtual cards can do for your business, you are most likely interested in starting to use them. In order to do that, though, you will need to find the perfect provider that will offer you these specific services. Once you begin your online research, because you’ll definitely use the Internet to search for these providers, you will probably get surprised by the number of companies that operate in this line of work. So, the fact that there are so many different providers out there will just make your decision on which one to work with much more difficult.

I get the fact that you might be overwhelmed with all the different options and the choice you have to make, but here’s what you should know. As long as you put some effort into it, you will, without a doubt, manage to make the best possible choice and start working with the perfect provider of these virtual visa cards. Of course, you need to know what it is that you should keep in mind while doing the research and while putting the effort into making this choice, and that’s what I’ll help you out with.

First of all, you should always check the experience of these firms, because the idea of working with amateurs who are just starting out on the market is probably not appealing to you. I am not saying that you should never give new companies a chance, but you would need to be absolutely sure that the new company is legit and capable of providing you with the best services if you decided to give it a chance. This is why going for those more experienced firms is actually a better move because it provides you with a sense of security right away.

There is one thing, however, that is much more important than experience and that you should never take for granted. All of these providers will have built a certain reputation over time and that reputation will be the result of the way they have operated in the market, i.e. of their success or their lack of success. You can check their success and their reputation by learning what other clients have to say about their specific services, meaning that you should read some online reviews before making a choice. Of course, apart from all of this, you should also check the fees offered by these providers, so as to be sure that you are making the smartest choice.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

LCCI Raises Eyebrow Over N15.52trn Debt Servicing Plan in 2026 Budget

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domestic debt servicing

By Adedapo Adesanya

The Lagos Chamber of Commerce and Industry (LCCI) has noted that the N15.52 trillion allocation to debt servicing in the 2026 budget remains a significant fiscal burden.

LCCI Director-General, Mrs Chinyere Almona, said this on Tuesday in Lagos via a statement in reaction to the nation’s 2026 budget of N58.18 trillion, hinging the success of the 2026 budget on execution discipline, capital efficiency, and sustained support for productive sectors.

She noted that the budget was a timely shift from macroeconomic stabilisation to growth acceleration, reflecting growing confidence in the economy.

She lauded its emphasis on production-oriented spending, with capital expenditure of N26.08 trillion, representing 45 per cent of total outlays, and significantly outweighing non-debt recurrent expenditure of N15.25 trillion.

According to Mrs Almona, this composition supports infrastructure development, industrial expansion, and productivity growth.

However, she explained that the N15.52 trillion allocation to debt servicing underscored the need for stricter borrowing discipline, enhanced revenue efficiency, and expanded public-private partnerships to safeguard investments that promote growth.

She added that a further review of the 2026 budget revealed relatively optimistic macroeconomic assumptions that may pose fiscal risks.

“The oil price benchmark of $64.85 per barrel, although lower than the $75.00 benchmark in the 2025 budget, appears optimistic when compared with the 2025 average price of about $69.60 per barrel and current prices around $60 per barrel.

“This raises downside risks to oil revenue, especially since 35.6 per cent of the total projected revenue is expected to come from oil receipts.

“Similarly, the oil production benchmark of 1.84 million barrels per day is significantly higher than the current level of approximately 1.49 million barrels per day.

“Achieving this may be challenging without substantial improvements in security, infrastructure integrity, and sector investment,” she said.

Mrs Almona said the exchange rate assumption of N1,512 to the Dollar, compared with N1,500 in the 2025 budget and about N1,446 per Dollar at the end of November, suggests expectations of a mild depreciation.

She said while this may support Naira-denominated revenue, it also increases the cost of imports, debt servicing, and inflation management, with broader macroeconomic implications.

The LCCI DG added that the inflation projection of 16.5 per cent in 2026, up from 15.8 per cent in the 2025 budget and a current rate of about 14.45 per cent, appeared optimistic, particularly in a pre-election year.

She also expressed concern about Nigeria’s historically weak budget implementation capacity, likely to be further strained by the combined operation of multiple budget cycles within a single year.

Looking ahead, Mrs Almona identified agriculture and agro-processing, manufacturing, infrastructure, energy, and human capital development as key drivers of growth in 2026.

She said that unlocking these sectors would require decisive execution—scaling irrigation and agro-value chains, reducing power and logistics costs for manufacturers, and aligning education and skills development with private-sector needs.

The LCCI head stressed the need to resolve issues surrounding the Naira for crude, increase the supply of oil to local refineries to boost local refining capacity and conserve the substantial foreign exchange used for fuel imports.

“Overall, the 2026 Budget presents a credible opportunity for Nigeria to transition from recovery to expansion.

“Its success will depend less on the size of allocations and more on execution discipline, capital efficiency, and sustained support for productive sectors.

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Economy

Customs Street Chalks up 0.12% on Santa Claus Rally

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Customs Street Nigerian Stock Exchange

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited witnessed Santa Claus rally on Wednesday after it closed higher by 0.12 per cent.

Strong demand for Nigerian stocks lifted the All-Share Index (ASI) by 185.70 points during the pre-Christmas trading session to 153,539.83 points from 153,354.13 points.

In the same vein, the market capitalisation expanded at midweek by N118 billion to N97.890 trillion from the preceding day’s N97.772 trillion.

Investor sentiment on Customs Street remained bullish after closing with 36 appreciating equities and 22 depreciating equities, indicating a positive market breadth index.

Guinness Nigeria chalked up 9.98 per cent to trade at N318.60, Austin Laz improved by 9.97 per cent to N3.20, International Breweries expanded by 9.85 per cent to N14.50, Transcorp Hotels rose by 9.83 per cent to N170.90, and Aluminium Extrusion grew by 9.73 per cent to N16.35.

On the flip side, Legend Internet lost 9.26 per cent to close at N4.90, AXA Mansard shrank by 7.14 per cent to N13.00, Jaiz Bank declined by 5.45 per cent to N4.51, MTN Nigeria weakened by 5.21 per cent to N504.00, and NEM Insurance crashed by 4.74 per cent to N24.10.

Yesterday, a total of 1.8 billion shares valued at N30.1 billion exchanged hands in 19,372 deals versus the 677.4 billion shares worth N20.8 billion traded in 27,589 deals in the previous session, implying a slump in the number of deals by 29.78 per cent, and a surge in the trading volume and value by 165.72 per cent and 44.71 per cent apiece.

Abbey Mortgage Bank was the most active equity for the day after it sold 1.1 billion units worth N7.1 billion, Sterling Holdings traded 127.1 million units valued at N895.9 million, Custodian Investment exchanged 115.0 million units for N4.5 billion, First Holdco transacted 40.9 million units valued at N2.2 billion, and Access Holdings traded 38.2 million units worth N783.3 million.

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Economy

Yuletide: Rite Foods Reiterates Commitment to Quality, Innovation

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Rite foods stamp black

By Adedapo Adesanya

Nigerian food and beverage company, Rite Foods Limited, has extended warm Yuletide greetings to Nigerians as families and communities worldwide come together to celebrate the Christmas season and usher in a new year filled with hope and renewed possibilities.

In a statement, Rite Foods encouraged consumers to savour these special occasions with its wide range of quality brands, including the 13 variants of Bigi Carbonated Soft Drinks, premium Bigi Table Water, Sosa Fruit Drink in its refreshing flavours, the Fearless Energy Drink, and its tasty sausage rolls — all produced in a world-class facility with modern technology and global best practices.

Speaking on the season, the Managing Director of Rite Foods Limited, Mr Seleem Adegunwa, said the company remains deeply committed to enriching the lives of consumers beyond refreshment. According to him, the Yuletide period underscores the values of generosity, unity, and gratitude, which resonate strongly with the company’s philosophy.

“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands. This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Mr Adegunwa stated.

He noted that the company’s steady progress in brand acceptance, operational excellence, and responsible business practices reflects a culture of continuous improvement, innovation, and responsiveness to consumer needs. These efforts, he said, have further strengthened Rite Foods’ position as a proudly Nigerian brand with growing relevance and impact across the country.

Mr Adegunwa reaffirmed that Rite Foods will continue to invest in research and development, efficient production processes, and initiatives that support communities, while maintaining quality standards across its product portfolio.

“As the year comes to a close, Rite Foods Limited wishes Nigerians a joyful Christmas celebration and a prosperous New Year filled with peace, progress, and shared success.”

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