India-based IDFC Bank has entered into a partnership with MobiKwik to launch virtual credit card on the Visa platform.
The virtual credit card does not contain bank account information and it will be linked to customer’s existing credit card or bank account which can be used for a single transaction or set of transactions.
The users can generate a 16-digit Visa virtual card via MobiKwik app for e-commerce and online transactions.
The facility is currently available by ‘invitation’ and will be open to all MobiKwik users.
MobiKwik co-founder Upasana Taku said: “MobiKwik was through this tie-up expanding the reach in terms of merchant network so that its users are not limited to using wallets only on MobiKwik merchants but could pay anywhere where Visa is accepted.”
MobiKwik currently has 65 million users and in the last year its reach has increased up to two million merchants.