State Bank of India (SBI) offers virtual card which is a limit debit card. It can be created using SBI's internet banking for e-commerce transactions. This card can be used to shop online at any merchant website that accepts visa cards, without any difference from a regular plastic card, according to the official website of SBI.
Features of SBI virtual cards
1) SBI virtual card hides the primary card and account details from the merchant, thereby reducing the chances of any fraudulent activity.
2) SBI virtual card is valid for a period of 48 hours or till the transaction is complete.
3) SBI virtual card creation and online transaction is authorised only after successful validation of One Time Password (OTP) sent to your registered mobile number.
4) SBI customers can make payment through their net banking amount.
5) The minimum transaction amount to create SBI virtual card is ₹100 and the maximum is ₹50,000.
6) SBI virtual card can be used at any online merchant site that accepts visa cards.
7) SBI vitual card is a single usage card, i.e once used successfully it cannot be reused.
8) The amount is debited only when actual purchase, using the virtual card, is completed successfully.
Here is a step-by-step guide to create your SBI virtual card
-Login to your SBI online banking account (www.onlinesbi.com).
-Click on 'e-Card' tab on the top bar.
-Click on 'generate virtual card' tab.
-Now, select the account you wish to transfer money to the virtual card.
-Enter the amount you wish to transfer to the virtual card.
-Agree to the terms and conditions by clicking on the tick box.
-Click on 'Generate'.
-Now, you will have to verify the cardholder name, debit card account number and the virtual card limit.
-SBI will send an OTP to your registered mobile number.
-Enter the OTP and click on 'Confirm'.
-After successful validation, card image with card number, expiry date, etc will be displayed on the screen.
-SBI vitual card is now created and available for e-commerce transaction.