Follow the steps mentioned below to avail a virtual credit card from your credit card provider –

Step 1: Download and install the credit card wallet app of your financial institution from the Google Play Store (Android) or App Store.

Step 2: Enter the mobile number that is registered with your credit card provider.

Step 3: Enter the OTP (one-time-password) sent to your registered mobile number.

Step 4: Post OTP verification, select ‘Know More’ option.

Step 5: Enter your Date of Birth, as registered with your current card provider.

Once you have completed these steps, you will be able to access your virtual card via your smartphone, transact – quickly and safely.

Benefits of virtual credit cards

Here are some of the advantages that come with virtual credit cards –

• Enjoy secure transactions

Since this card operates in a virtual medium, the chances of theft and misuse are significantly low. Further, some financial institutions allow you to create a virtual card for a certain period through net banking.

While the validity of some cards last for 48 hours, others can be used till the time you cancel it. Even the cancellation is simple and does not require you to contact the authorities for assistance.

• You choose your transaction limit

Despite almost zero chances of cloning, a virtual credit card is made even safer by setting a limit. This ensures that a certain amount will be capped and even if your card is accessed by any unauthorised person – he will not be able to use the entire credit limit.

• Avail this facility at free of cost

You can avail a virtual card at free of cost from any leading financial institution or NBFC. This ensures that users do not need to pay any additional charges for it. Some providers also offer the option of a virtual card to be used as a prepaid card based on the debit card.

A virtual credit card functions as an online credit card facility. This card is specially created to carry out online transactions. This credit card consists of a unique number, CVV code, and validity dates, just like any other standard credit card. However, all of the details are only available online and can be viewed via the registered app.

No matter what type of credit card you have, keeping these pointers in mind can help you choose a financial tool that best suits you.