Virtual Debit Card for Online Subscriptions
Subscriptions require a recurring payment at regular intervals. Many use debit cards to make these payments. However, there are merchants who store your card details. This means that your crucial financial information is at constant risk of being compromised, especially in the event of a data breach. This could lead to unauthorised charges or fraud if your card information falls into the wrong hands. This is where virtual debit cards offer a smarter solution. With a virtual debit card for online subscriptions, you can enjoy the convenience of digital payments while significantly enhancing your security.
What is a virtual debit card?
A virtual debit card is a digital version of a physical debit card. You can access it through the mobile banking apps. These cards have a unique 16-digit card number, expiry date and CVV. They are primarily designed for secure online transactions. This has made them a popular choice for those who want to make digital payments in a secure way.
What are the key features of a virtual debit card?
Security:
When you use a virtual debit card, you do not expose your actual bank details. It generates unique card numbers for different transactions, adding a layer of security that protects you against fraud and unauthorised access.
Control:
With a virtual debit card, you can set spending limitations and expiration dates. This is helpful in managing different subscriptions and controlling the budget. If you want to stay informed about recurring payments and avoid overspending, then making transactions via a virtual debit card is a rational decision.
Access:
As you open your Kotak811 Savings Account, you can access your virtual debit card immediately. You do not have to visit the branch or fill out forms to get them. Then, you can make online purchases and enjoy a seamless payment experience.
Cost-Effective:
There are no fees to get a virtual debit card, making it a cost-effective option for managing online transactions. It eliminates the need for physical card issuance fees and the hassles of card replacements due to damage or theft.
What kind of online payments can you make with a virtual debit card?
Virtual debit cards can be used for a wide range of transactions. They offer flexibility and ease of use, which makes them ideal for:
Streaming services
You can enjoy watching a wide range of content on streaming platforms by paying for your monthly, quarterly or yearly subscriptions with a virtual debit card.
Digital news and magazines
Get instant access to news and industry updates by paying to the publications with a virtual debit card, whether it's The Times of India, Economic Times or international newsletters from The New York Times and The Economist.
Software subscriptions
Individuals or businesses who use software and productivity tools can also use a virtual debit card to pay for subscriptions to Microsoft Office 365, Adobe Photoshop, etc.
Cloud storage services
Do not let your cloud storage run low. Use a virtual debit card to pay for the subscription and save files, photos and more seamlessly.
Fitness and health apps
These applications charge users to use their services. You can pay those fees via a virtual debit card to easily access premium features, workout plans or personalised coaching.
Added benefits of a virtual debit card
- You can make contactless payments at physical stores using the 'Scan & Pay' feature. All you need to do is scan the merchant's QR code with your smartphone.
- You can simply cancel or replace virtual debit cards through the mobile banking app. Furthermore, generating a new one without disrupting their other financial activities is easier. This capability gives you peace of mind.
- Virtual debit cards are a convenient option for making global transactions. They are secure and universally accepted, and they can even handle subscriptions in different currencies.
Endnote
For effective monitoring, set spending limits on your virtual debit card and overview transactions through the mobile banking application. Also, enable real-time notification to stay informed of every purchase. Don't forget to review the subscriptions periodically linked to your virtual debit card. If you find services you no longer use or need, cancel them to save money and avoid unnecessary charges.
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