Day by day online frauds are increasing very rapidly. The craze of an eCommerce system attracting customers to buy their essential things from remotely, which is really appreciable & good thing !
But the counterpart is safety of eCommerce. Which leads to various points while shopping online. In this age of internet you must be a “SMART” shopper instead of only knowledgeable. Your smartness helps you to avoid fraudulent activities.We must maintain our privacy and security while shopping online or doing any online transactions.We already cover some online security and safety tips.Though we follow all security guidelines we can’t give guarantee of safe & secure transactions, because hackers are more SMART than us 🙂 They know the security loopholes, so question is what to do for safe & secure transactions ? Is there is any magic-shield for protection ? It is ! It’s nothing but VCC (Virtual Credit Card )
Virtual credit card ( One Time Use Credit Card ) service is one of the essential services for the financial / banking sector but unfortunately people aren’t aware of these services & not every bank offer it 🙁 . VCC is nothing but a one time use machine generated credit card number protecting your real credit card number from identity theft.e.g If you have the card number like 1234-5678-9012-124 having a balance of 50k & you want to use it for online shopping to buy a mobile phone of 10k that time instead of using your original card number you can generate VCC from your online bank account by providing the withdrawal amount of 10k. After successful authentication you will get a VCC number like 1111-2222-3333-444 instead of original card number. Now you are free to use VCC for your 10k transaction. It implies the safety of the transaction as well as the privacy of your original card. VCC is a one time use card so we don’t need to care about data security 😀
Point to consider before generating your VCC :
1. Ask your bank for VCC service, if it’s there then knowing the process of generating VCC is essential. (In India HDFC, ICICI, Kotak Mahindra, Axis bank supports VCC service for saving a/c )
2. Before creating VCC you must ensure that you are holding international Credit/Debit card verified by VISA/MASTER secure code.
3. Ask your bank for VCC limit,VCC limit totally depends on your account type.You can also use your debit card for VCC generation.
4. Use your VCC within given time period, so generate it if you really want to use it. You can’t use it after expiration like an ordinary credit card.
5. Virtual process credit cards are responsible for handing transaction amount seamlessly i.e. if you generated VCC of 20k and use it for 15k transaction then remaining 5k amount will get credited in your account after a few days.Its depend on your banking policy !
6. Though you use VCC, always monitor your account activity log and statements .
Do’s & Don’ts of VCC:
1. Do check Currency Conversion rate before generating VCC if you are going to do International transaction in another currency then make sure your amount is up to the mark !
2. Only online transactions are allowed for VCC, you can’t do any offline transaction by providing VCC details.
3. Don’t use VCC where recurrent payments are done through online, because VCC expires after a few days which leads to malfunctioning of further process.
4. Keep VCC details in safe place, don’t copy or upload it to your E-mail.It’s a better to generate it and use it prior to any transaction.
Benefits of VCC :
1. Robust security.
2. Your original identity is not shared across the web.
3. VCC minimizes the chances of fraudulent activity.
4. You can use VCC for FREE TRIAL offers.
Sample of HDFC bank VCC:
Online security and vulnerability are major concerns in current internet age ! It’s our duty to secure yourself from such type of culprits. Shop Online by using SMART ways of technology !