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 are available in handy. Nowadays, individuals use their cards for on-line transactions on a regular basis. With the rise in on-line transactions, there has also been an equal rise in fraudsters taking a hold of and misusing shopper’s credit card information.
As a lot as doable we try to use our cards in secure websites, however sometimes there are situations once 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 discovered a way round this and come up with a wonderful answer called – virtual credit cards.
How do they work?
These virtual cards are issued by several widespread banks.
Only a main card holder can make use of this facility and add – on card holders can not avail this feature.
They have a limited validity – not more than just a few days. Since they’re normally used to make only one-time transactions.
A separate set of credentials similar to card number, cvv number and many others is assigned to this virtual card. These are the small print you may need to enter if you wish to use this card.
There are certain minimum and most limits assigned to your virtual credit card.
Cash out of your account is transferred into this card if you want it. And if there is any money remaining after your transaction, it is transferred back into your account.
These cards are straightforward to create and use, as all the process is completed online. All it’s essential 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 main advantage is security of course! You by no means have to reveal the actual details of your credit card or debit card account details.
There is a one time password that will be issued to you, this is the main reason why there is little room for anybody else to misuse your card.
The quantity from your account will be debited only if you make an precise purchase utilizing the virtual card.
You can even create a virtual card using your debit card.
You don’t even need to own an precise credit card, all you want is an active bank account with ample balance and a net banking facility in an effort to make use of this feature.
Now you know you possibly can easily keep away from the treacherous credit card debt, and on the similar time not lose out on the advantages of electronic money. Go ahead and get your self a virtual card today for easy as well as safe transactions.
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