Another distinguishing feature of VCC is that it is issued anonymously (unlike credit/debit card which are usually issued in the name of individual account holder).
Key benefits
• Virtual credit card is for one time use only.
• VCC number should be normally used within 24 hour after generation of number.
• You can set your own limit for the VCC you generate subject to the unutilised limit on your actual credit card.
• You can use it on any merchant website that accepts Master Card / VISA payment cards.
• All purchases you make with VCC will appear on your statement, just like any other transaction.
Key benefits
• Virtual credit card is for one time use only.
• VCC number should be normally used within 24 hour after generation of number.
• You can set your own limit for the VCC you generate subject to the unutilised limit on your actual credit card.
• You can use it on any merchant website that accepts Master Card / VISA payment cards.
• All purchases you make with VCC will appear on your statement, just like any other transaction.
The above VCC can be used only one for a transaction not exceeding Rs. 1. Similar VCCs can be generated for different one time use amounts subject to the amount not exceeding the total unutilised limit of the card. Please note that in a VCC the 16 digit card number, CVV number and the expiry date are different from the original card number, original CVV number and the original expiry date on the card. So even if someone gets the details of your used VCC, still it will serve no purpose to that person as VCCs are valid only for one time use. Also VCCs are valid only for limited time of 1 day or 2 days or any other time specified by the card owner at the time of generating the VCC. If the VCC is not used within that time period then the VCC expires and the amount is added back to the balance of your original card.
Like Ajay you can use this virtual card number at any online merchant site and complete your shopping with security and ease. Also you may set a limit to the VCC for transacting online.
The VCC is not a normal credit card. Unlike credit card you will not be granted money on credit for online payments and neither can you put it in your pocket and walk for shopping as it is a virtual card. Infact it is very similar to a prepaid card where user needs to first generate the virtual card online and deposit fund into the card before it can be used for one time online purchase.
Like Ajay you can use this virtual card number at any online merchant site and complete your shopping with security and ease. Also you may set a limit to the VCC for transacting online.
The VCC is not a normal credit card. Unlike credit card you will not be granted money on credit for online payments and neither can you put it in your pocket and walk for shopping as it is a virtual card. Infact it is very similar to a prepaid card where user needs to first generate the virtual card online and deposit fund into the card before it can be used for one time online purchase.
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