While the idea of a global village seems ancient, a single world currency still seems like an idea far from fruition. Sending money across the globe may have become more uncomplicated compared to the old wire transfer of the yesteryears.

But it still does call for calculations, conversions, charges, intermediaries, and gateways - making the process cumbersome, lengthy, and not always foolproof. 

The problem compounds when one needs to disburse rewards in bulk for international surveys or other marketing campaigns. If this resonates with you and you’re looking for a solution, there is almost nothing as easy as virtual prepaid cards like prepaid virtual Visa ® and Mastercard ®. 

Who wouldn’t love to receive a fully customizable and personalized gift?  

Why do people make that choice, and how does it help overcome the challenges? Let’s take a step back and discuss the likely significant challenges of such a payment system. 

The challenges of global rewarding 

Physical gifts may have more of a feeling of being a ‘gift,’ but it can be cumbersome for a business to roll out physical gifts to recipients regularly. Here’s why: 

1. Delivery 

Sending physical gifts, in general, is a time-consuming and labor-intensive process. Even within a domestic geographic territory, these logistics can be challenging. When taken to a global scale, the intensity of these problems multiply. With physical gifts and checks, a database of addresses is necessary, to begin with. The addressing conventions vary from country to country, as do legal requirements. 

When sending out rewards to different countries, this is a cumbersome process susceptible to errors. Delivery can take several days or even weeks. And if pushing for quicker deliveries means added costs and bigger budgets. 

2. Redemption 

While delivery is a challenge for businesses, redemption is a challenge for the receiver. Most gift cards come with a string of conditions attached, more often than not. For example, redemption during a specific time frame; redemption possible only for selected products, etc. 

Moreover, not every store has an online presence, making redemption even more cumbersome–sometimes, physical locations could be too far. And if incentives and rewards are hard to redeem, they also lose their meaning and the joy they carry. 

3. Flexibility 

Though more flexible than a material gift, gift cards generally lack the complete flexibility that cash offers the receiver. Moreover, for the giver, there can be different sorts of concerns - most gift cards are closed-loop cards with a single-use feature attached to them, which means there can always be some amount of money left behind on a gift card that ends up going to waste. So the receiver may not avail of the full benefit of the card value that the receiver has budgeted for. 

To address the above challenges, businesses are increasingly turning to a simple, powerful solution: virtual prepaid cards. 

What is a virtual prepaid card? 

Virtual prepaid cards, including Visa® prepaid card, offer a digital alternative to traditional physical cards. Embodying the essence of flexibility and security, these cards are preloaded with funds to use for a wide range of online transactions, making them a staple in the digital payment solutions arena.  

Like physical cards, these virtual prepaid cards also carry a 16-digit number with a CVV number. When these virtual prepaid cards come from a universally recognized brand like Visa ® or Mastercard ®, receivers can use them anywhere, just like physical debit cards. 

One can add virtual prepaid cards directly to the recipient’s mobile wallet. Virtual prepaid cards also ensure instant delivery and hassle-free redemption of funds. They’re also valid to use at any online merchant where Visa® and Mastercard ® are accepted, providing customers with spending freedom. Ultimately, virtual cards improve the e-commerce shopping experience with safety and convenience. 

Visa rewards are great because they give your recipients the flexibility of using them at online stores of their choice. 

Unlike regular gift cards, Visa prepaid cards cannot be used in combination with other payment methods. This means that the recipient must have enough money on the card to cover the full cost of their purchase. 

The funds on a Visa prepaid card must be utilized within the validity timeline from the date of issue. 

How do virtual prepaid cards function? 

Virtual prepaid cards allow businesses to refill balances from time to time on a need basis. It’s a little different from using physical cards and allows for more flexibility. 

Physical prepaid card programs often require businesses to pre-purchase a large inventory of cards, tying up cash. Virtual cards eliminate this by allowing flexible, on-demand issuance, avoiding financial strain. That’s when virtual cards come to the rescue. As a business, you could choose to append data to transactions on the card and manage refills on the cards accordingly. 

Issuers, who are typically employers or merchants, load the cards by sending funds electronically. The cards are then sent to a recipient list by email that links to a quick-launch screen. From there, cardholders use a mobile app or online portal to see their current balance and transaction history. 

Since virtual cards aren’t tangible, they don’t require manufacturing or printing and can be distributed across the globe instantly. From designing the card art to issuing them, the delivery process is typically 3 to 4 weeks, as opposed to 6 to 8 weeks for physical card production. 

Benefits of virtual prepaid Visa or Mastercard cards 

Here are the benefits of virtual prepaid Visa ® cards: 

1. Ease of delivery 

Since these cards are digital and prepaid, they are easy to deliver instantly anywhere in the world over email. 

2. Global acceptance 

Visa® and Mastercard® payments are supported across 150 countries and in most major currencies worldwide, including U.S. and Canadian Dollars, British Pounds, and Euros. 

3. Ease of local currency conversions 

Virtual prepaid reward cards allow you to send monetary rewards and incentives in the currency of your choice. Furthermore, the currency conversion at the recipient’s end is also automatically taken care of by the prepaid card enabler. 

4. Better user experience for the receiver 

These cards are not just usable in physical stores but online as well at many businesses. Simplicity, ease of use, and vast choice make it a preferred choice. 

5. Fully customizable 

These cards allow businesses to customize the cards they send out to awardees by adding business branding, for instance, logo, tagline, colors, etc. 

6. Lesser costs 

The use of digital cards does not have the added costs that come with physical cards. They don’t need to be printed and shipped, which calls for a reduction in the business budget for actual reward value. Here is a cherry on the cake: they’re environmentally friendly! 

Ways businesses can use virtual prepaid Visa & Mastercard for instant global payments 

As businesses expand across borders and embrace digital-first operations, the need for fast, flexible payment methods has never been greater. Virtual prepaid Visa ® and Mastercard® solutions are reshaping how companies reward, pay, and engage, instantly and globally. 

1. Employee rewards and incentives 

Virtual prepaid Visa® and Mastercard® cards provide a fast, flexible way to reward employees. Whether it's instant bonuses for top performers, perks for remote workers, or incentives for achieving sales targets, these cards make recognition seamless.  

Employees can access their rewards instantly and use them globally, which adds a modern, personalized touch to employee engagement and appreciation programs. This boosts motivation, loyalty, and overall morale without the logistical hassles of traditional gift distribution. 

2. Customer loyalty and retention programs 

Businesses can strengthen their customer relationships by offering virtual prepaid cards as part of loyalty or retention programs. These cards act as instant cash-equivalent rewards that can be distributed for customer milestones, referral programs, product feedback, or regular purchases.  

Since they are universally accepted, customers find them highly valuable. It’s a smart, tangible way to show appreciation while encouraging repeat business, strengthening brand loyalty, and standing out in a competitive market. 

3. Vendor or freelancer payments 

Managing global payments to vendors, freelancers, and contractors becomes much easier with virtual prepaid cards. Instead of dealing with traditional wire transfers (which are often slow and expensive), businesses can send payments instantly across borders.  

Content creators, consultants, designers, and service providers can receive payments without needing a formal bank relationship, especially useful in regions where traditional banking access is limited. This improves cash flow, reduces transaction fees, and enhances the vendor’s experience. 

4. Expense management 

Virtual prepaid Visa® and Mastercard® cards can transform corporate expense management. Companies can issue cards to employees for specific purposes such as business travel, online subscriptions, or departmental budgets. Businesses maintain full control by setting limits and tracking real-time spending data.  

This reduces the risks associated with credit cards, minimizes expense fraud, and simplifies reconciliation processes—all while empowering employees to manage purchases efficiently without reimbursement delays. 

5. Event gifting and promotions 

Hosting virtual or physical events? Virtual prepaid cards are an ideal gifting option. Companies can use them for giveaways during webinars, conferences, product launches, or customer appreciation events.  

Unlike physical merchandise, these cards are easy to distribute, instantly available, and allow recipients the freedom to choose what they value most. This elevates the experience, improves participation rates, and creates memorable brand impressions. 

6. Survey participation and research incentives 

Businesses running customer feedback surveys, market research, or internal assessments can incentivize participation with instant virtual prepaid cards. Offering an immediate, tangible reward encourages higher response rates and better-quality data.  

Plus, virtual cards can be customized by value or brand, making them a flexible and highly motivating incentive across global audiences. This reduces the friction of participation and ensures a steady flow of valuable insights. 

Where and how to obtain a virtual prepaid Visa and Mastercard? 

Generally, these cards are issued by a bank either by filling up a form or via net banking or phone banking. One needs to fill in long forms with details of each recipient–like personal particulars, payment instrument, the purpose of gifting, etc. Then, once the bank approves the paperwork and a card is issued, a password is generated and sent to the receiver for use. 

Getting virtual prepaid cards directly issued from banks can be a cumbersome process. But you can get around these limitations with the help of the right digital rewards management platform.  

If you’re looking for an easy international rewarding solution,  Xoxoday Plum has you covered with virtual Visa ® and Mastercard® prepaid cards 

How Xoxoday Plum simplifies instant global payouts using virtual prepaid cards 

Xoxoday Plum provides a full-service support system for businesses that want to get on the virtual prepaid cards bandwagon. Here are some of the ways Xoxoday Plum makes things easier for businesses: 

1. Instant payouts 

With Xoxoday’s prepaid cards, businesses can issue virtual Visa® and Mastercard® cards instantly — delivering rewards to up to bulk recipients at once without currency conversion hassles. 

2. Global reach and multi-currency support 

Xoxoday supports 21,000+ branded payment options across 75+ countries, ensuring you can send rewards in preferred local currencies like USD, EUR, INR, GBP, and more. 

3. Personalized experiences 

Businesses can fully customize virtual prepaid cards with their brand logo, colors, and messaging, along with personalized emails and landing pages, creating a strong brand impression. 

4. Ease of use 

The platform enables businesses to recharge wallets, select denominations, and send cards via email, SMS, or WhatsApp—all within a few clicks. Bulk reward distribution is seamless with file upload or API integrations. 

5. Cost-effective and environmentally friendly 

Xoxoday’s virtual cards eliminate costs related to physical card printing and shipping, saving both money and the environment. 

6. Comprehensive reporting and real-time tracking 

Monitor your payout campaigns effortlessly with detailed reporting and dashboards, ensuring transparency and performance tracking across all disbursements. 

7. High security and compliance 

Xoxoday meets the highest certification standards, ensuring complete adherence to global security and compliance norms (including KYC/AML regulations). 

8. 24x7 exceptional support 

Businesses get round-the-clock customer support, including setup assistance, chat and email help, and quick issue resolution—helping maintain seamless operations.