Virtual credit cards are a boon to people who rely a lot on online shopping. Moreover, they have supported the growth of ecommerce companies a lot. Virtual credit cards have provided a new and better platform to the credit card users. It adds security to the users account and helps them against the online thugs.The increasing complaint of frauds done on the online frontier lead to the evolvement and introduction of Virtual Credit Card by various banks. They have proved to be an important tool in the war against organized virtual crime. Virtual crimes like theft can make your bank account nullified in seconds and your years of income might go just like that into someone else pocket.It is a pretty rational and effective approach that was developed to save our money.
What is VCC (Virtual Credit Card)
It is an additional feature that comes along with one’s primary credit card issued by the bank. One just needs to ask the issuing authority of the concerned bank for it and they would guide you with the procedure and steps involved. It should be noted that the card must be preloaded with credit and can only be used for one time payment and that too for a specified period of time during online transactions. These cards have no value in the real world though you can rule the virtual world with them obviously if they are loaded with credit. Apart from this these cards have no fee associated with them this is something that has made it popular among with the youth.They are issued for free and the only thing you need to check is the validity and the credit with which it is loaded.
One would require the card number, expiry date, CVV number etc. at the time of online transactions or while dealing with online merchants. You can be sure of one thing that while using them you won’t lose your card as there is no need of carrying or sharing your primary card details with anyone during such transactions. Yes, your VCC and your primary credit card are two completely different things this feature adds on to the security measures.
From where can I get
Many banks like ICICI, HDFC, State Bank of India, Kotak Mahindra and Axis Bank are having this scheme with names like ICICI VCC, HDFC Net safe etc. and have started providing VCC to their customers; thus, facilitating the process of banking in many ways.
Are they Safe???
The safety provided by them is greater as compared to their predecessors as they check on the validity of such accounts. These accounts get zeroed after every 24 hours even if the user has not used them, one can even consider it as a deadline of these accounts. Thus, chances of getting thuged and looted on the online frontier are pretty low.
There are different VCC for different customers it depends on the type of card holder the latter is. If a person has a VISA card then the VCC will be a Visa card and if it’s a Maestro then it will be a maestro card it functions in this fashion. Mostly, these cards are valid internationally that is a user sitting in India can buy anything through online transaction form anywhere across the globe and that too with full security and satisfaction.
This feature is present in banks like ICICI, HDFC, Axis Bank and Kotak Mahindra, but in State Bank of India (S.B.I)one can trade only in India by using VCC. Thus one can enjoy the benefits of VCC if he is trading with someone belonging to India through SBI. Therefore it is better if you first check the validity of your card that is if it’s accepted globally or not before entering into any transaction related detailing.This would not only save you from embarrassment, but will also save your time.
Conclusion
VCC provides a great option to the generation which wants everything on their finger-tips as it is said just a click away. The Gen next was sometimes finding themselves as a victim of virtual crime. It has stopped them from getting fooled and looted by online merchants and in turn have gained there trust. It’s a completely new horizon for people and they are kind of liking it. Some banks have jumped in, to eat the whole of desert while some are taking their time to adjust in the new scenario. Till now it is a win-win scenario as buyers are getting what they like at an affordable price, secondly sellers are able to sell their goods world-wide and expand their business opportunities and brand’s goodwill. On the other hand, all this is done without putting anything on stake thus its good for economy as well. The new development has made almost everyone happy and contented.
So, what are you waiting for, get one for you today itself.
