In today's world, the digital realm offers conveniences that allow us to handle all our tasks practically. The rapid advancement of technology provides certain comforts for the benefit of people. The concept of internet banking entered users' lives with the development of technology and brought along quick adaptation. The development of online shopping and payment methods, especially after the Covid-19 pandemic, can be cited as a positive impact on society. With internet banking, it is no longer necessary to visit a bank or ATM for many transactions. Following the concept of mobile banking, terms like virtual card, virtual money, and virtual IBAN have also begun to emerge. For instance, virtual IBAN. So, what is a virtual IBAN? One of the most notable aspects of making payments is that the payment is practical, fast, and secure. Virtual IBAN, which encompasses these three elements, is designed to facilitate quick payments between the same bank or different banks. Virtual IBAN is a practical and fast payment method used not only for domestic payments but also for international payments.
How to Obtain and Use a Virtual IBAN?
You can easily create your Morpara Virtual IBAN using our mobile application. A virtual IBAN is the same as a regular IBAN. To answer the question "How is a virtual IBAN used?", for a virtual IBAN to be utilized, only the virtual IBAN number of the payee is required. When a collection is to be made, the 26-character virtual IBAN is printed, and payment is made without any code. It is quite practical compared to a regular IBAN. After addressing how to obtain a virtual IBAN, let's look at its advantages.
Advantages of a Virtual IBAN
So, what is the purpose of a virtual IBAN? A virtual IBAN facilitates payments and collections in both daily life and business. It is often preferred in business life for international payments as well, making it likely to become one of the most used payment/collection options with the evolving technological conditions of future generations. To touch upon the advantages of a virtual IBAN:
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It simplifies the tracking of collections from different points.
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The tracking and segregation of collections can be easily implemented with a virtual card IBAN.
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A virtual IBAN is a frequently preferred payment option, especially for businesses engaged in e-commerce.
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It simplifies the payment tracking and management of businesses and helps to carry out international payments more quickly.
As technology develops, many important factors that will facilitate daily life also become a part of our lives. One of the most notable features of using internet banking, the security issue, is actually eliminated by up to 90% with virtual cards and virtual IBANs. The use of a virtual IBAN can be one of the preferred options not only because it facilitates daily and business life but also because it brings forth an important security advantage.