Virtual Credit Cards

virtual-credit-card

Millions of Americans are the victims of credit card fraud every year. A fifth of these people blame the internet. In fact, the top reason people shy away from internet shopping is the fear of theft of personal information.

Virtual credit cards, also known as substitute credit card numbers or controlled payment numbers, have already been around almost seven years but have never caught on despite being a free and effective layer of protection. Now in India also several banks provide virtual credit card facility. After HDFC Bank and Kotak Mahindra Bank, ICICI Bank have launched Virtual Credit Card (VCC) which is an add-on Visa credit card issued on the primary credit card.


The VCC does not have any plastic existence but can only be viewed online and can only be used for online transactions. The credit limit is the same as that of the primary credit card, however one can specify his own limit on the VCC and the details of purchase made is displayed on the primary statement itself.

The key details of your VCC like the card number, expiry date, etc. are visible online. Current the virtual credit card is a Visa card with Mastercard and Amex cards expected to be launched soon.

Your actual account number will only be visible to you and your bank. The merchant never sees your number and can’t retain your information in his database. This way, hackers will only be able to see your temporary number, which will be useless to them.

So, why haven’t virtual credit cards caught on? Many consumers find them to be a hassle, particularly when you’ll only be liable for at most $50 if your actual credit card is stolen. However, credit card theft can turn into full-blown identity theft when your credit card information is matched up with other information about you that is floating around on the web.

Key Benefits:

  • Your VCC number is never used on the merchant website.
  • The VCC card you create is a one time use card.
  • You can set your own limit for the VCC cards you generate.
  • You can use it on any merchant website that accepts Master Card / VISA payment cards.
  • It ensures a completely safe and secure online shopping experience.
  • All purchases you make with VCC Cards will appear on your statement, just like any other transaction.