Virtual Credit Card is a online card that is not physically issued by any Bank or NBFCs . And it is a free service to their users for the online payment. Like any credit card, these too have a specific card number along with CVV and validity dates, the only difference between a conventional and a virtual being the lack of a physical card in case of the latter.

Credit card usage has evolved as much as it has been on the rise. With the advent of online banking and its obvious convenience, the natural evolution of credit cards led to its online functioning in the form of virtual credit card. It has its very specific features which are effectively advantages. A virtual card is comparatively more secure since it has no physical entity that can be misplaced or stolen. The credentials and details, though they can be stolen, it cannot be used over a long period owing to two reasons.

First and foremost, these virtual credit cards are active over a short period thereby restricting anyone to access them indefinitely even in the case of misplacement of information. Secondly, owners of credit cards can set a financial limit while activating a virtual card. It especially aids in the event of misplacement since even with access to details, an unauthorized user cannot go beyond the cap in terms of spending.

Amongst many features, another crucial one is that it cannot be lost. In turn, this makes it pocket-friendly since it does not have any secondary costs while activating or reclaiming it if stolen. The online credentials and details are all that these cards have as identity, and it need not be replaced by any physical asset. These cards, activated for a short period, also ensure that in case a user is not too happy with its methods they can stop using it after a few days.

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What is Virtual Credit Card and How Does it Work?