Top Banks Offering Virtual Credit Cards in India-HDFC, SIB & More


It is not necessary that you must hold a physical credit card to purchase your required items online without paying upfront. Presently, various banks and financial organisations are offering VCC or virtual credit card to help you with this. Like physical cards, these VCCs also come with a number, expiry date and CVV. You can easily make your online purchase using these numbers, and the OTP received in your mobile number. 

Major Banks Extending Virtual Credit Card

Following are some of the traditional banks which provide this virtual credit card:

  • HDFC NetSafe
  • SBM OneCard Lite Credit Card
  • Federal Bank One Credit Card
  • SIB OneCard Credit Card

You can also get this virtual credit card from some major NBFCs, as mentioned below:

  • Oxigen Wallet Virtual Card
  • FreeCharge Go MasterCard

Features and Benefits of Virtual Credit Cards

You can leverage the following advantages of a virtual credit card:

  • Convenience

You do not need to carry any card in its physical form, which may be burdensome. Instead, you can keep all the information about your VCC on your mobile phone and use them as necessary during a transaction. 

  • Security

The virtual credits cards is more secure since you do not need to swipe it physically. Therefore, it reduces the chances of fraudulent activities and theft of your card data. Moreover, RBI is the governing body that takes necessary measures to enhance the safety of your virtual credit cards.

  • Limit Setting Facility 

You can also set the limit of transactions on your virtual credits cards as per requirements. Once the limit is exhausted, you will not be able to make any online payment through your card.

  • Effortless Cancellation

The card issuer lets you cancel or block your card easily through your mobile phone. This way, you do not have to visit the physical office of your financial institution to leverage this facility.

  • International Transaction

This facility enables you to make domestic and international transactions at the same time.

Apart from these benefits, you can get this virtual credits cards from your banks free of cost. 

How to Apply for a Virtual Credit Card

You need to first check whether your credits cards issuer provides VCC to its customers. If it extends such cards, you need to follow the step-by-step process mentioned below to apply for the VCC:

Step 1: Submit your card details and account information to your credits cards provider

Step 2: Wait for the approval process from the end of your financial institution

After this, you will get your virtual credits cards.

How to Purchase Using Virtual Credit Cards

Here are the following steps you need to undergo to make transactions using a VCC after entering the payment gateway: 

Step 1: Enter the credentials of your payment card, including its owner’s name, number, expiry date, etc.

You will get an OTP in your mobile number registered with the credits cards at this stage.

Step 2: Provide the OTP and click on ‘Submit’

After these steps, you will be able to pay the invoice amount.

Things to Check While Applying for a Virtual Credit Card

Here are some aspects that you need to be careful about while applying for this online credit card:

  • You must have a physical credits card with the financial institution to generate your VCC.
  • The VCC will not help withdraw cash from ATMs since it has no physical form.
  • The usage of this card is restricted only to online purchases. So, if you need to purchase from physical outlets, you need to carry your physical cards.
  • Generally, these credit cards stay valid for only 1-2 days. 

Read Also : The Benefits and Drawbacks of Blackboard DCCCD

How Does a Virtual Credit Card Restrict Fraudulent Activities?

Since you do not swipe this card physically, there is no chance that the card’s credential data gets stored in any POS (Point of Sale) terminals. Also, you can set your credit limit according to your usage. After exhaustion of this limit, the card loses its usability. Besides, its validity period is also short, up to 24-48 hours. After expiry, no one can use the card data to utilise your credit fraudulently.

In conclusion, virtual credit cards can significantly protect your card data since you do not have to swipe it while making transactions of the invoice amount. Besides, being an online card, you do not need to take the hassle of carrying it or the fear of losing it. This way, you get to leverage both convenience and security.

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