Remaining amount gets transferred back to your bank account.This validity can be changed by the bank from time to time. Kotak Mahindra Bank offers you a virtual credit card with a validity of maximum 48 hours. So your money in the bank account is actually safe. Apart from this, virtual credit cards use small credit top ups. Virtual credit card is a limited time card, that is, it is valid to use only for an approved number of transactions and also, for a limited time period only. This makes your virtual credit card free of major fraud risks, thereby keeping the fraudsters at bay. Further, although the virtual card is connected with your debit account, your actual debit card number is not used for the online transaction. This makes cloning difficult and transactions secure. Virtual credit cards are not in any physical form like your regular debit or credit cards. Here are a few important features of the virtual credit card that help keep your money safe from online frauds. And that’s the greatest advantage you can have, a safe and secure, worry-free transaction. What are the features and benefits of using a virtual credit card?Ī virtual credit card adds an extra layer of security for making any type of online payment. ![]() Virtual credit card is a randomly generated 16-digit number, which is associated with your debit account and it is often allotted by the banks or the third party firms. What is a virtual credit card?Īs the name implies, unlike the physical debit or credit card, virtual credit card does not come in a physical form, i.e., you can only use it for online shopping and not for the over-the-counter purchases. Virtual credit cards can be your best bet in such times.īut what is this virtual credit card? How to use them? What are the benefits of virtual credit cards? Here’s all you need to know about virtual credit cards. And even if you are cautious on every step, these new-age tricksters are always a step ahead. Not all shopping portals are safe and there’s always a chance of your credit card information falling into the wrong hands. Although online shopping has brought great convenience on one hand, on the other hand the risk of exposure to fraudsters is also looming large. Virtual credit cards come handy in tackling one of the biggest menaces of online transactions, frauds. ![]() ![]() So, one of the most unique things that the digital age conceived, is online shopping, and furthermore, the concept of a virtual credit card. Now, people can get access to all brands and products at the convenience of their homes, irrespective of their locations. Gone are the days when one had to travel to another corner of a city, or to a neighbouring town to buy their favourite things. When the world turned digital, it brought many benefits to the consumers.
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