All of us very well know how handy credit cards have proven to be. Whether it’s making purchases on the mall, or paying for an emergency at the hospital, these plastic wonders definitely come in handy. Nowadays, people use their cards for online transactions on a daily basis. With the rise in on-line transactions, there has additionally been an equal rise in fraudsters taking a hold of and misusing shopper’s credit card information.
As much as possible we try to use our cards in safe websites, but typically there are cases when we are required to make use of unsecured web pages. And utilizing our credit card information in such pages is highly risky. Which is why banks have found a way spherical this and are available up with a wonderful answer called – virtual credit cards.
How do they work?
These virtual cards are issued by several fashionable banks.
Only a primary card holder can make use of this facility and add – on card holders cannot avail this feature.
They’ve a limited validity – not more than just a few days. Since they’re usually used to make only one-time transactions.
A separate set of credentials corresponding to card number, cvv number and so on is assigned to this virtual card. These are the details you may must enter if you need to use this card.
There are certain minimum and maximum limits assigned to your virtual credit card.
Money from your account is transferred into this card if you want it. And if there’s any money remaining after your transaction, it is transferred back into your account.
These cards are easy to create and use, as all the process is done online. All that you must do is have a legitimate internet banking facility with transaction rights, and voila you may avail a virtual credit card!
What are the advantages of VCC?
The primary advantage is security after all! You never need to reveal the precise particulars of your credit card or debit card account details.
There is a one time password that will be issued to you, this is the principle reason why there is little room for anybody else to misuse your card.
The quantity out of your account will be debited only if you make an actual buy using the virtual card.
You may even create a virtual card utilizing your debit card.
You don’t even have to own an actual credit card, all you need is an active bank account with sufficient balance and a net banking facility to be able to make use of this feature.
Now you know you’ll be able to simply keep away from the treacherous credit card debt, and at the same time not lose out on the advantages of digital money. Go ahead and get your self a virtual card at this time for straightforward as well as safe transactions.
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