Benefits of NetSafe – “HDFC Bank Virtual Credit Card”

Benefits of NetSafe – “HDFC Bank Virtual Credit Card”

Benefits of NetSafe – “HDFC Bank Virtual Credit Card”:

While doing online financial transaction by means of credit cards, your details are shared with the shipper webpage and there are chances that the data might be abused. In fact, in spite of the safety efforts being set up, there have been several occurrences of card related frauds which are increasing with time. This is where the option of using virtual credit cards pitch in. Virtual cards are similar to credit cards, except that they don't have a physical structure and accompanies a pre-defined credit limit set by the customer. 

Usage:
If you want to buy an item online worth Rs 20000, you can stack your virtual card with Rs 20,001 and make the purchase. The rest of the cash will reflect back to your original bank account. Now, even if the card details are abused in the future by the shipper webpage, the details will be useless as the virtual card numbers were assigned only one time and are worthless after the accompanying transaction. 

NetSafe Virtual Credit Card:
To curb credit card related frauds, HDFC bank has recently launched a virtual credit card called “NetSafe” which can be used for safe and secure online transactions, shopping etc. A virtual credit card is basically a one-time randomly generated credit card number (depending on your original credit card) which can be used as normal credit card. In short, the NetSafe card is a virtual credit card generated through the NetSafe technology and can be used for secure transaction. 

With this latest technology, you create a virtual credit card (NetSafe Credit Card) from your HDFC bank Visa or Master card Credit Card number. 

Salient Features:
Some of the salient features of this virtual credit card include – 

  • NetSafe card is only one time usable card 
  • NetSafe card card eliminates use of HDFC bank credit card for online processing 
  • All the purchases via this NetSafe card appears on your statement as usual 
  • An option for creating unique password for additional security 
  • The NetSafe card number is auto generated and expires after 48 hours 

The NetSafe card is a single transaction card and hence cannot be used more than once. It is created online instantly and in real time for any amount. 

Eligibility Criteria for HDFC Virtual Credit Card:
The HDFC bank has set the following eligibility criteria for NetSafe card -   

  • You should have an already existing HDFC credit card 
  • You should have sufficient credit for the online transaction to take place 

Charges for Virtual Credit Card:
The HDFC bank has not levied any additional fees for using NetSafe virtual credit card. You should just meet the eligibility criteria for usage of the card. In other words, it is being provided currently free of cost. However, the card can only be used for making online payments at sites that accept VISA or MasterCard range of cards.  

How to Generate HDFC Virtual Credit Card?
To create NetSafe Card, follow the following steps – 

  • Step 1: Navigate to the official website of the HDFC bank 
  • Step 2: Log into NetSafe using your Login ID and password 
  • Step 3: Select your preferred account from which you wish to draw funds for creating the NetSafe Card  
  • Step 4: Click on “OK” to generate the NetSafe card 

You may also generate the card by downloading a plug-in which shall reside on your device. When you shall click on the plug-in, it will directly take you to the page for generating the NetSafe card. 

Frequently Asked Questions (FAQs):

Do I need to register for using NetSafe?
Answer: Yes, you need to register using your existing HDFC Credit Card for creating your NetSafe Card. 

Can NetSafe be used at all websites?
Answer: No, you can use it only at those websites that accept Visa and Master card as payment options. 

How to cancel NetSafe card?
Answer: To cancel a NetSafe card, follow these steps – 

  • Step 1: Login to NetSafe and choose your account
  • Step 2: Select “Card List” that shall display all the generated cards 
  • Step 3: Select the card you wish to cancel 
  • Step 4: Tap on “Cancel Card” option 

The amount will be credited back into your account at the end of the validity period 

Can NetSafe card be used for cash withdrawal ? 
Answer: No, the NetSafe card can only be used for online transaction. As such, it cannot be used for cash withdrawal.