It was about 6 years ago, I cancelled my HSBC credit card due to the in-general missing security while making the online transactions. Only Card number, Card Expiry date and CVV number were the authentication inputs for any online transaction. It was easy for anybody to commit online transactions somehow if they get access to your Card information. Two years back Reserve Bank Of India made mandate for all the banks in India to include a second layer of authentication to make online transactions secure. But this applies only to the transactions crossing Rs. 5000/-. In the recent years i am just using my debit card for physical transactions and net-banking for online transactions. For the last two years i am using HDFC bank’s NetSafe virtual cards for all my online transactions including international payments. It is very safe mechanism for doing any online payments. This article talks about how you can use your existing Debit Card or Credit Card to make an Virtual Card and also addresses few
common concerns on using this cards.
The NetSafe Card is a virtual card that is generated through the HDFC NetSafe offering and can be used for shopping on the Internet. You need to do one time registration for NetSafe card and the registration is FREE as of now. The only requirement for creating NetSafe card is that one should possess a valid HDFC Debit Card or Credit Card.
- NetSafe card is always act as a Credit Card, No matter how you created it (either from Credit Card or Debit Card).
- The NetSafe Card can be used at any online shopping website that accepts VISA/Mastercard cards.
- Any unused amount from the NetSafe Card will be credited back to your source Credit/Debit card account.
- The Validity period of your NetSafe card would be 24 to 46 Hours
- If you created a NetSafe using with your existing Credit Card…
- For a completely unused NetSafe card, the amount is credited back at end of validity period
- partially utilized, the balance amount gets credited to the source account within 7 days
- If you created a NetSafe using with your existing Debit Card…
- the amount will be credited back in 3 working days to the source account
- partially utilized, the balance amount gets credited to the source account within 35 days
- The NetSafe Card is a one time use card and can be used for only one transaction on ANY online shopping site. i.e., The single transaction is from the user side.
- There is no risk involved in using the NetSafe card online.
- NetSafe cards can be used only for online transactions.
- Always generate the NetSafe Card for the value of your purchase and Use the card immediately at your chosen shopping website.
- As of now you can create 5 NetSafe cards per day
- Avoid using your NetSafe Card when You will be required to present your actual plastic HDFC Bank Card to receive your purchase, including some airline and movie tickets – check each merchant’s policy carefully before you purchase!
- Recurring charges will be automatically charged to your card. i.e., if any third party service charges would be taken from your virtual card after the main transaction completes.
- You can also get the refunds to your source account, if the refund is made with in the Expiry date of your virtual card.
1) To use NetSafe card, you need to first register your existing Debit Card or Debit Card. This is one time activity
2) Login using your user id and password which you created in step 1. After successful authentication you will be provided the below Home page.
3. Select your card If you have registered multiple cards, enter the amount and click on “Go” button. Your virtual credit would be created for the specified amount.
4. This virtual card has below fields
Name: Your name on the card
Card No: 16 digit credit card number
CVV2: 3 digit secret code
Expiry: Actual expiry of the virtual card. Note that the Expiry date is different than the Card validity date. The Validity would mostly between 24 to 46 hours only
Limit: The value of the card.
4. Now you will be able to use this credit card with in 24hours on any online shop including foreign transactions which requires payment in foreign currency. I used the above card to pay a client in US Dollars.
5. You can see the previous cards and their transactions when you click on the “All Accounts/Services” link in the Virtual Card image on the Home page.
There are confusions about the term “one time transaction” in the HDFC NetSafe FAQ. It meant that YOU can only make one transaction with the virtual card. Your virtual card would be in active status till card expiry (not Validity Period which is upto 46 hours maximum). Yu can also get the refunds to your source account, if the refund is made with in the Expiry date of your virtual card.