Indian bank credit card and Virtual Credit card

Discussion in 'Payment Processing' started by Siddu11, Sep 5, 2011.

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  1. #1
    I am from India. I need to know which bank offers virtual credit cards. Does VCC function similar to credit cards, like getting statements etc.,

    I want to use it for paypal for verification and also for transferring funds from paypal to the card. I use merchant account, so that all the funds from the account can be directly transferred to the Card.

    If anyone is experienced, please mention about which bank offer the virtual card facility.
     
    Siddu11, Sep 5, 2011 IP
  2. ApocalypseXL

    ApocalypseXL Notable Member

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    #2
    I don't know what bank offers that service but 1 thing i can tell you about VCCs and Paypal . I have two friends that used VCCs for PayPal and both got their PayPal accounts banned .
     
    ApocalypseXL, Sep 5, 2011 IP
  3. Siddu11

    Siddu11 Peon

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    #3
    Hmmm... Bit scary.
     
    Siddu11, Sep 5, 2011 IP
  4. MayurGondaliya

    MayurGondaliya Well-Known Member

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    #4
    Virtual cards from indian banks are one-time-use cards. you do not get statements. They allow just one transaction and the card is closed.

    Try entropay and use any indian debit cards (VISA).
     
    MayurGondaliya, Sep 5, 2011 IP
  5. Card

    Card Well-Known Member

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    #5
    Dont go for VCC as they are risky in eyes of Paypal and Debit cards now dont work with Paypal.Take Credit card against Fixed deposit of Rs20000 in ICICI,HDFC,SBI,Axis or Yes Bank :)
     
    Card, Sep 5, 2011 IP
  6. Siddu11

    Siddu11 Peon

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    #6
    You mean that i cannot use that 20k which i deposit for the card. Should i add more funds to the card except the initial deposit to spend or it is possible to spend the money with that 20k.

    Also can we draw the money from paypal to that card, as they say that we can draw our money to credit card. Suppose i use Malaysian account for paypal and i like to transfer to Indian card. Will i work?
     
    Siddu11, Sep 6, 2011 IP