State Bank Virtual 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 from a regular plastic card.
The key features of Virtual Card are as follows:
Easy to Use
No separate setup/installation or registration is required, any customer having internet banking facility with transaction rights can create Virtual Card.
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.
|State Bank Virtual Card description and its features|
|Eligibility||All INB Customers with Transaction Rights having PAN registered with the Bank 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-transaction Card|
|Card Acceptability||At any merchant 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 transaction 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 /unutilized amount will automatically be available to the customer for use.|