In recent years, India has witnessed a massive upsurge in its e-commerce industry. It was the fastest growing online retail market in Asia in 2019. Furthermore, estimations suggest there’d approximately 330 million digital buyers in 2020. Subsequently, the traditional payment methods have evolved to accommodate this rise in online purchases. In today’s age and time, cards, credit, and debit dominate this arena. In fact, they account for nearly 29% of transactions in India.

Credit cards, particularly, are an immensely resourceful tool for digital consumers today.  Plus, variants such as a virtual credit card (VCC) offer a hassle-free payment method that also provides complete online security. As a result, it makes shopping less cumbersome and more secure for users.

Significance of a VCC

As the name suggests, this card type is only available digitally and has no physical existence.  All relevant details, such as the card number, expiration date, and CVV of the card, are available online for the user. All leading financial institutions in India offer this facility to their credit card and debit cardholders.

It is issued for a short period, valid usually for a maximum of 48 hours. Hence, a virtual credit card is an ideal choice for one-time use. Users need to enter a one-time password (OTP) to complete the transaction, just as they do with a regular credit card. Similarly, all your purchases will reflect on the statement. Thus, you can use a VCC without complicating credit card settlement.

However, unlike its physical counterpart, a VCC can only be used for online transactions and not for in-store purchases.

Features of a virtual credit card

Improved security

The card is issued for a limited amount of time ranging from 24 to 48 hours. Therefore, it can be used for one-time online transactions. The card number is a randomly generated number. As a result, it minimizes your exposure to different types of credit card frauds and helps avoid them. Also, you need to submit an OTP before making payments, thus, ensuring an additional layer of security.

Transactional limit

These cards come with a specified credit limit, just like any other type of credit card. The minimum credit limit of your VCC will be Re.1/-. You can specify this limit as per your requirement. It is adjusted based on the overall limit of the primary card. Furthermore, this ensures that you do not overspend, eliminating the need for unnecessary credit card settlement in the future.


The Card Verification Number or CVV remains the same irrespective of the number of transactions made against it. It changes only if you cancel the card and avail of a new one. This ensures that you enjoy an effortless and uncomplicated method of online payment.

Easy application and blocking

A VCC is easily accessible to all cardholders. The application process is easy, quick, and completely digital. So, you do not need any unnecessary paperwork to acquire this card. Additionally, you can block it instantly in case you suspect any threat to its security.

Here’s how to avail a VCC

Most card issuers offer a VCC to their cardholders. But, you must be a primary cardholder to avail of this facility. Nevertheless, the procedure is simple and seamless:

Apply for a VCC via the financial institution’s mobile app or digital wallet.

You can also apply for the same from the official website of the issuer.

Enter your credit card details. Some financiers also require additional details like your PAN number and KYC.

Ease of use and online security are the primary features of a VCC. Alternatively, you can also opt for credit cards like Bajaj Finserv RBL Bank SuperCard that offers zero-fraud liability and in-hand security.

Other benefits of this card include conversion of big-ticket expenses into EMIs and hefty reward points on transactions. These are a few reasons that make SuperCard the smart way to shop online.

NBFCs like Bajaj Finserv also provide pre-approved offers to make the application process hassle-free and less time-consuming. These offers can be enjoyed on credit cards, personal loans, and business loans. You can check your pre-approved offer by submitting your name and contact number.

While choosing a credit card, it is important that you pick one that suits you the best. To choose the right credit card for yourself, take into account factors like your spending habit.

Nevertheless, India is taking gradual steps towards a cashless economy. Facilities like virtual credit cards will further escalate their progress towards this goal. Payment instruments like credit cards are an indispensable tool in that context. A virtual credit card also enhances your online shopping experience since it is simple, secure, and straight-forward. With a VCC, you do not have to fret about the method of payment the next time you make an online purchase.

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