Credit Cards (often referred as Plastic Money) are becoming more common medium to pay for goods and services around the world. While the plastic physical Credit Cards (CC) rule the offline (and online world), Virtual Credit Cards (VCC) are buzz specially for online world. Virtual Credit Cards are meant for online transactions only.
Virtual Credit Cards are like prepaid card used for mobile recharge, holding specific amount of money limit that be used for online transactions. These cards have short expiry date and are linked to primary (real) credit card of the card holder. They are safer to use for online transactions as they entail fixed amount of money liability and expiry after specific period.
Many leading banks in India like ICICI bank, HDFC bank issue Virtual Credit Card (VCC) to primary credit card holders to allows safer online transaction. Here are answers to basic questions while getting a Virtual Credit Card, need one? [Image: Citibank.com]