VCC stand for the Virtual Credit Card, A virtual credit card is an electronic card. This can be done using the internet banking facility of the bank. For this, here you have to give the details of the credit or debit card. There is no charge for this. In this you get all the information that is in a debit or credit card. Each virtual card has its own virtual card number, CVV number and validity details. Like any other regular credit card, it can be used for online transactions. But, like a debit card, it cannot be used in an ATM machine. This card is made for some time only. A virtual credit card may also be available for those who do not have a credit card. In such a case, the virtual credit card is linked to the debit card or account.
- The use of this card eliminates the risk of disclosing the credit/debit card as the primary card as the same is not disclosed to the merchant.
- The card is valid for a maximum period of 48 hours or till the time the transaction is completed, whichever is earlier.
- Card generation and online transactions are authorized only after successful validation of the One Time Received Password (OTP) which is sent to your mobile during this process.
Very convenient & Easy to use
- The card provides the facility of payment from your Internet Banking linked accounts on which transaction rights have been activated.
- This card can be drawn in rounded off rupees.
- The card can be used at any online merchant that accepts Debit/Credit cards.
- Virtual Credit Card does not require separate set-up/installation or registration and any customer having transaction rights in Internet Banking facility can create his/her virtual card.