What is a Virtual Credit Card?

In today's digital age, almost everything is available online. With your internet-enabled smart device, you can easily make purchases, pay bills, and complete transactions without the hassle of cash or long queues. The days of searching for exact change or standing in line at the merchant are behind us. You can now conveniently use your credit card to manage purchases and order your desired products and services. A virtual credit card offers a safer option if you are worried about entering your card details online. Read on to explore a virtual credit card and how to use it effectively.

As the name suggests, a virtual Credit Card is a type of online Credit Card. It is unlike traditional Credit Cards that you can touch and feel. With this type of Credit Card, all the information visible on your physical Credit Card, such as the card number, expiration date, CVV, etc., is displayed online.

Credit Card issuers offer Virtual Credit Cards as an add-on card feature with your primary Credit Card. These cards are usually temporary and useful for convenient online shopping experiences. Also, since these cards exist virtually, you cannot use them for over-the-counter purchases.

The following are the typical features of a Virtual Credit Card:

Limited Validity

Virtual Credit Cards are temporarily available, usually for a single transaction. Typically, these cards are valid for up to 24 to 48 hours. The exact validity period varies from one card issuer to another. You also have the option to cancel your card anytime if you do not require it.

Enhanced Security

With online virtual Credit Cards you need not link or store your card-related information online like your physical Credit Card. Hence, your sensitive information is safeguarded against data breaches and other vulnerable cyber threats. Additionally, you need not swipe or physically carry virtual cards, which eliminates the risk of theft.

Easy Availability

Since a virtual Credit Card is provided online, you can access it instantly through mobile apps and bank websites. Once you have successfully applied for the card, a unique virtual card number is generated, which you can use instead of real numbers for shopping or making payments online.

Simple Onboarding Process

You can obtain an online Credit Card without undergoing stringent eligibility criteria. The process is simple and convenient. You can use your online card for domestic and international transactions. Besides, there are no charges applicable to availing this card.

Convenient Transfer of Unused Amount

If your virtual Credit Card expires and you have an unutilised credit limit, you need not worry about losing the remaining amount. The remaining credit limit is transferred to your primary Credit Card.

Hassle-free Blocking Facility

Virtual Credit Cards enhance safety as the details are not shared online. But if you suspect unauthorised access, you can block it conveniently within a few minutes online. You can carry out the card-blocking process on your card issuer’s website or mobile app.

Basic Components Similar to the Physical Card

Both virtual and physical Credit Cards share similar basic features. For instance, you may only initiate spending up to the credit limit. Plus, both cards comprise a CVV which you must enter while initiating transactions. You also need to authenticate your transactions through a secure PIN and OTP.

In terms of usage, the steps to use a Virtual Credit Card mirror those of a physical Credit Card. The only difference is that you may use virtual cards only for online transactions. Here are the steps to follow:

• Step 1: Go to your desired merchant’s website or app.

• Step 2: Select the product or service you would like to purchase.

• Step 3: On the payment gateway, input your virtual Credit Card number, validity date, CVV, and other required details.

• Step 4: Enter the OTP sent to your Registered Mobile Number to authorise the transaction.

• Step 5: Once your payment is successful, you will get a real-time update on the amount debited from your Credit Card, and the transaction will appear on your Virtual Credit Card statement.

With its numerous benefits and user-friendly features, a Virtual Credit Card is worth considering. The NetSafe Credit Card from HDFC Bank offers enhanced security for online transactions. Upon application, you receive a unique virtual card number for shopping. You can also set a password and create a personal message for additional protection, safeguarding against cyber criminals even if they access your card details.

Conduct online transactions without stressing security with HDFC Bank’s Virtual Credit Card.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank Limited. Credit Card approvals are subject to documentation and verification per the bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.