How to order takeout with virtual currency? Comparing Onekey and Depay virtual cards, which one is better?

How to use virtual currency to shop in real life?

Today, a reporter from Golden Finance successfully spent virtual currency to purchase physical goods on platforms such as Meituan and Pinduoduo. The virtual VISA or MasterCard launched by various companies makes it possible for virtual currency to enter real life. The reporter evaluated the virtual cards launched by the OneKey and Depay teams.

First of all, we need to understand the principle behind it. Domestic mainstream apps all support foreign VISA or MasterCard payments, and relevant institutions can open virtual card services after obtaining certification from international credit card organizations VISA or MasterCard. The virtual card supports virtual currency recharge, so we can use this "virtual card" as a bridge to realize the consumption of "virtual currency" in real life.

Activate the card

Onekey is still in the beta stage. Register with your email address, provide a photo of your ID card, and complete KYC with facial recognition. The card will be successfully opened. He will provide you with a key, please copy it down on paper. Recharge at least 20USDC (currently only USDC is supported) to activate the VISA card. The reporter chose to recharge on the Tron chain, which cost 1U gas.

After the VISA card is activated, you can bind this card as a foreign currency card to platforms such as Alipay, WeChat Pay, Meituan, Pinduoduo, etc.

Golden Reporter uses WeChat Pay as an example to explain how to bind. Enter the card number at the card binding site, and then fill in the "validity period, security code, billing address (click the CVV on the virtual card to obtain this information. When clicking CVV, you need to enter the bound Google Authenticator number)" to successfully bind the card. Other platforms are similar to this binding method.

Information that needs to be filled in on the platform when binding the card

Click on CVV in the virtual card to get the above information

Unlike OneKey, which can be registered on the web, Depay requires downloading the APP. Depay opens a virtual MasterCard when opening a card. Depay allows users to choose whether to conduct KYC. If KYC is conducted, no card opening fee is required. If KYC is not conducted, a 10U card opening fee is required. In terms of handling fees, not conducting KYC is also higher than conducting KYC.

The specific differences are as follows:

Similar to OneKey, the reporter successfully activated the card after conducting KYC and facial recognition authentication (I have to complain here! The facial recognition verification was too slow and it took two attempts to succeed).

Depay offers different levels of cards with different recharge fees. The reporter chose the lowest level card which does not require a card opening fee but has a relatively high handling fee.

Then, I recharged and activated the card. I first transferred 20USDT to Depay's wallet (spending 1U in gas fee), and then exchanged the recharged 19USDT from the wallet into US dollars in the virtual card (another 1U handling fee was charged at this time!). After this series of operations, the reporter's 10U became 18U and the card was activated.

During the process of binding the virtual MasterCard, Alipay, Pinduoduo, and Meituan successfully bound the card. However, WeChat failed to bind the card, with the message "There is a risk of the card being stolen, and the card cannot be added for the time being."

In comparison, Onekey, which is still in the beta stage, seems to be cheaper.

Online Payment

During the reporter's test, when ordering takeout from Meituan, whether he directly chose to pay with the Onekey virtual Visa card or the Depay virtual Mastercard, he was reminded that "it is under maintenance and this payment method is temporarily unavailable."

So the reporter chose Alipay to pay for the order, and chose to pay with the VISA card in Alipay, and the payment was successful, and the service fee for the payment was waived. Similarly, the payment was successful when Depay's virtual MasterCard was selected in the same way.

Later, when the reporter was shopping on Pinduoduo, he chose to pay with the OnekeyVISA card. The payment was successful, but he was required to pay a 3% service fee.

The reporter then jumped to the WeChat payment platform and chose to pay with the VISA card, and no service fee was charged.

However, when I jumped to Alipay payment, I was reminded that "this merchant does not currently support international bank card payments"

When the reporter bought the same product on Pinduoduo and used the Depay virtual Mastercard directly, he was reminded that "the bank card verification failed, please try again or change another bank card." Similarly, when jumping to Alipay payment, he was reminded that "this merchant does not currently support international bank card payments."

Similarly, services such as recharging water and electricity bills in Alipay do not support foreign currency virtual card payments.

Offline Payment

When paying offline, the reporter randomly selected a store to shop, chose WeChat Pay, and selected the VISA card for deduction, but the deduction failed.

When paying offline, you must check whether the POS machine used by the merchant supports the VISA channel. Because the POS machine of the merchant randomly selected by the reporter does not support the VISA payment channel, the deduction failed.

Refund

The reporter tried to refund two payments initiated by Onekey and Depay. The platform showed that the refund was successful, but the two refunds were not found in the reporter's two virtual cards. The two payment bills can be found in the bills of Onekey and Depay, but the refund bill cannot be found. The reporter estimated that it was because the foreign currency card clearing time was long, so the real-time arrival was not possible.

Summarize:

In general, the probability of Onekey being controlled by risk is lower, so the application scenarios are wider. Depay has been launched for more than a year and has been operating stably. When shopping online, you can always spend virtual currency by transferring a few channels, but there are not many offline supermarkets that support it. When refunding, the liquidation may be too slow. As of press time, the reporter has not received the two refunds initiated. For risk avoidance considerations, it is not recommended to transfer too much funds to virtual cards.