State Bank of India has launched a ‘virtual’
electronic debit card for e-commerce transactions. The ‘State Bank Virtual’
card can be created by a customer using the banks Internet Banking facility
with transaction rights. The product allows the user to create a virtual card
for any online transaction and the customer is not required to share the
details of the principal account on the merchant Web site. The features of the
virtual card are: no charge on creation of the card and the customer can create
any number of cards at the same time. The card is created for each online
transaction and is valid for a maximum of 48 hours. The minimum amount with
which the card can be loaded with is Rs 100. There is no upper limit.
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