We all very well know how convenient credit cards have proven to be. Whether it’s making purchases at the mall, or paying for an emergency at the hospital, these plastic wonders definitely come in handy. Nowadays, people use their cards for online transactions on a regular basis. With the rise in online transactions, there has also been an equal rise in fraudsters taking a hold of and misusing shopper’s credit card information.
As much as possible we try to use our cards in secure websites, but sometimes there are instances when we are required to make use of unsecured web pages. And using our credit card information in such pages is highly risky. Which is why CVV shop have found a way round this and come up with a wonderful solution called – virtual credit cards.
How do they work?
- These virtual cards are issued by several popular banks.
- Only a primary card holder can make use of this facility and add – on card holders cannot avail this feature.
- They have a limited validity – not more than a few days. Since they are usually used to make only one-time transactions.
- A separate set of credentials such as card number, cvv number etc is assigned to this virtual card. These are the details you’ll need to enter when you want to use this card.
- There are certain minimum and maximum limits assigned to your virtual credit card.
- Money from your account is transferred into this card when you want it. And if there is any money remaining after your transaction, it is transferred back into your account.
These cards are easy to create and use, as all the process is done online. All you need to do is have a valid internet banking facility with transaction rights, and voila you can avail a virtual credit card!
What are the advantages of VCC?
- The main advantage is security of course! You never have to reveal the actual details of your credit card or debit card account details.
- There is a one time password that will be issued to you, this is the main reason why there is little room for anybody else to misuse your card.
- The amount from your account will be debited only when you make an actual purchase using the virtual card.
- You can even create a virtual card using your debit card.
- You don’t even need to own an actual credit card, all you need is an active bank account with sufficient balance and a net banking facility in order to make use of this feature.