The previous post on Virtual Credit Cards talks about the basic concept of virtual cards while discussing how you can create one. Basically, it was about those which can be created from the net banking portals of banks. When it comes to creating VCC provided by banks, you are supposed to have an account as well as debit card or credit card of the respective bank in order to generate the virtual card.
However, there are other virtual card providers in India, who allow any debit card or credit card users and account holders to get their registration and generate Virtual Credit Cards.
These service providers operate through their websites or eWallets. Some of them are associated with banks whereas others are independent yet popular and trusted. Here we have 6 most popular Virtual Credit Cards provided through apps/eWallets and wesbites.
Virtual Cards Provided through E Wallets and Websites
1.FreeCharge Go MasterCard
Popular online recharge platform and mobile wallet, FreeCharge launched its Virtual card ‘Go MasterCard’ in partnership with Yes Bank and MasterCard in January 2016.
To generate Go MasterCard, login to your FreeCharge account through the website or mobile app. Click on ‘FreeCharge Go’ from the left and generate your mPIN. After entering the mPIN, you can have all the details of ‘FreeCharge Go MasterCard’ which you can use for online payments anywhere in India. You can top up the card by adding money to your FreeCharge Wallet from your stored bank account or cards. FAQs
2.Pocket Wallet by ICICI
Pockets mobile app is a digital wallet launched by ICICI in February 2015 which can be used for a multitude of financial services even by those who don’t have account with ICICI bank. The non-ICICI bank account holders can download the app from Google Play Store or iOS App Store and register themselves. Whereas ICICI account holders can use the same user credential of their net banking to complete the registration.
The Pockets wallet comes with a Virtual Prepaid VISA Card which shows on the dashboard. You can use the Virtual VISA card for online shopping in any ecommerce website in India. However, you can request a physical prepaid card to use with the Pockets wallet.
3.Lime Wallet by Axis Bank
The Lime Wallet app by Axis bank was launched in September 2015 for both account and non-account holders. The app allows you to create a prepaid card, which you can use for online shopping. The balance in the Lime wallet is the amount available in the prepaid card for online transaction. However, the bank is planning to offer physical cards for the users. But currently this is not live. FAQs
4.Entropay
Entropay offers an easy and convenient solution to your online payment through Virtual VISA prepaid card, which lets you pay online or over the phone. It has no monthly or annual charges. However, Entropay charges 4.95% on each amount transferred into the Entropay Virtual VISA card. Register for Entropay account and verify your credentials. Once you are registered, you can transfer funds to your Entropay Virtual VISA card from your personal credit card or debit card. FAQs
5.Payoneer
Payoneer is an online money transfer and eCommerce payment service provider that operates globally. Although this is a very good alternative to PayPal in India, the virtual card service is not available for all the users. Only the select Payoneer Mass Payout companies who payout at least $10,000 to its beneficiaries each month can avail the Virtual MasterCard facility of the company. Read the FAQs.
6.Oxigen Wallet
Oxigen wallet is India’s first non-bank wallet approved by RBI that allows its users to create Virtual Cards apart from offering instant money transfer facility. The Virtual Visa Prepaid card by Oxigen was launched in January 2016 to enable users make transaction on merchant websites without exposing their actual card details.
You can create VISA prepaid cards of Oxigen Wallet for every transaction you make on websites like Flipkart, Amazon and Uber who yse the Wallet. You can also use them on merchant websites who accept VISA card as payment option. Further, you can draw money from the Oxigen wallet and put them in the VISA prepaid card.
Recommended Reading: Oxigen Wallet launches mobile virtual prepaid cards powered by Visa
Learn about Virtual Credit Card facilities provided by different banks in India.
Virtual cards have emerged as an advanced and secure way of online payment over the past two or three years. Especially in India, where the market absorption of virtual card and wallet service providers is quite low, the growing popularity of these options is indicative of them becoming the future of online payment facility in the country. However, as we keep up with advanced technology, we should also become more responsible and alert regarding the way we spend our money.
