We all very well understand how handy credit cards have proven to be. Whether it is making purchases on the mall, or paying for an emergency on the hospital, these plastic wonders undoubtedly come in handy. Nowadays, individuals use their cards for online transactions on a daily 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 attainable we attempt to use our cards in secure websites, however generally there are situations after we are required to utilize unsecured web pages. And using our credit card data in such pages is highly risky. Which is why banks have found a way round this and give you a wonderful solution called – virtual credit cards.
How do they work?
These virtual cards are issued by a number of common banks.
Only a major card holder can make use of this facility and add – on card holders cannot avail this feature.
They’ve a restricted validity – not more than a number of days. Since they are often used to make only one-time transactions.
A separate set of credentials equivalent to card number, cvv number and so on is assigned to this virtual card. These are the small print you’ll need to enter once you need to use this card.
There are particular minimum and most limits assigned to your virtual credit card.
Cash out of your account is transferred into this card when you need it. And if there’s any cash remaining after your transaction, it’s transferred back into your account.
These cards are simple to create and use, as all of the process is finished online. All you might want to do is have a sound 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 safety in fact! You never have to reveal the actual details of your credit card or debit card account details.
There is a one time password that might be issued to you, this is the principle reason why there may be little room for anybody else to misuse your card.
The quantity from your account will probably be debited only if you make an actual purchase using the virtual card.
You can even create a virtual card using your debit card.
You don’t even have to own an precise credit card, all you want is an active bank account with enough balance and a net banking facility so as to make use of this feature.
Now you recognize you may simply avoid the treacherous credit card debt, and at the identical time not lose out on the advantages of digital money. Go ahead and get yourself a virtual card right now for straightforward as well as safe transactions.
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