State Bank Virtual Card

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skumar9988

Forerunner
Great news for SBI Users...

Hope this goes live for all of INDIA and they allow payments for all currencies soon
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[font=Arial, Helvetica, sans-serif]State Bank Virtual Card[/font][font=Arial, Helvetica, sans-serif]

State Bank Vitual Card,also known as Electronic Card or e-Card, is a limit Debit Card created for ecommerce transactions. It provides an easy and secure way of transacting online without providing the Primary Card/Account information to the merchant.

Virtual Cards can be used at any merchant location accepting MasterCards / Visa Cards online, without any difference froma regular plastic card.

The key features of Virtual Card are as follows:

Security-

It reduces the risk of exposing the underlying Credit/Debit limit as the Primary Card / Account details are not communicated to the Merchant.

Card is valid up to maximum of 48 hours or till the transaction is complete, whichever is earlier.

Card creation and online transaction are authorised only after successful validation of One Time Password (OTP) sent to your Mobile during the process.

Highly Flexible-

It enables Bank customers to pay from any of their Internet Banking enabled accounts, having transaction rights.

Card can be created for any amount in round rupees.

Card can be used at any online merchant site that accepts Debit/Credit Cards.

Easy to Use-

No separate setup/installation or registration is required, any customer having internet banking facility with transaction rights can create Virtual Card.

Zero Loss-

No loss of interest as the Card is generated by marking a lieu on the underlying account and the amount is debited only when actual transaction using the Virtual Card is completed, successfully.

Description Features Eligibility All INB Customers with Transaction Rights can avail this facility. Card Type Visa (may be extended to Master Card Platform) Currency of Issue Indian Rupee only. Minimum amount of Issue Rs. 100/- Maximum amount of Issue Rs. 50,000/- Frequency of usage (Single / Multi) Single-transcation Card Card Acceptability At any merchat outlet that has facility for Online purchase. Domestic / International Domestic use only. (Valid for payment in INR in India, Nepal & Bhutan) Card Validity As soon as transcation is completed.

Or If the card is cancelled.

Or Card is not used for 48 hours after creation.

(whichever is earlier) No of cards per customer per day No limit Issuance / Maintenance Fee NIL Refund / Cancellation Once card is cancelled or expired, the lien marked shall be lifted and the unspent /unutlised amount will automatically be availiable to the customer for use. [/font]
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Presently, only Pune and Bangalore a/c holders can use this service. However, this feature is already available to the private sector banks customer base.
 
bump

Virtual Credit Cards are now available to all users. Used one today to recharge on Paytm. SBI VCC works just as a regular credit card. you can instanly generate them on online portal. Only two downside I see are:

* It can be only used for INR purchases
* Valid only for 48 hours
 
Gaurish said:
bump

Virtual Credit Cards are now available to all users. Used one today to recharge on Paytm. SBI VCC works just as a regular credit card. you can instanly generate them on online portal. Only two downside I see are:

* It can be only used for INR purchases
* Valid only for 48 hours
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Okay, apologies if i am ignorant/misinformed but those two shortfalls make this feature almost useless won't you say?
 
If it cannot be used for Paypal, then it's of no use except security provided by using VCC
 
Anyone purchased apps on Google Play or Zune marketplace using this ?

Will those purchases be counted as international or within the country purchase ?
 
thatsashok said:
Anyone purchased apps on Google Play or Zune marketplace using this ?

Will those purchases be counted as international or within the country purchase ?
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They charge you in USD right? So obviously international. The SBI VCC works only for INR purchases.
 
This is apparently not new, this was present in my 2 year old HDFC card. What will happen in cases where you do a transaction and then cancel it say if you book rail tickets and then cancel them, how the money is going to be refunded in this case since the card number is already expired.
On a second note, from a very bitter experience, try to stay clear of SBI CC, they boast of services given by many other banks as if it is coming first time in India, consider it still OK but if you have any clarification and you want to contact them then good luck.No one picks a call, they will kepp you on hold for at least 15mins. Now I resort to mail them for which also they revert back in 5 working days!!!
 
bumping this old thread. Did they make any changes so that one can use on International payment also ?

btw how is SBI overall ? I want to use this for a Indian CC purchase, but I want to know how is customer support at SBI if something goes wrong.
 
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