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Reliance Communications, HDFC Bank join hands to launch India’s first virtual credit card

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Reliance Communications, HDFC Bank join hands to launch India’s first virtual credit card

Reliance Communications and HDFC Bank has announced the launch of Reliance mPay, claimed to be India’s first virtual credit card. The service would be available to Reliance Mobile users across the country. The user’s Reliance Mobile number would be the credit card number.

HDFC Bank will authenticate all the information with RCom, which will be used to initiate and authorise all payments using the customer’s mobile handset. Thus, there would be no card number, Card Verification Value (CVV) or expiry date that the customer has to enter with the Reliance mPay service.

Announcing the launch of Reliance mPay, Rahul Bhagat, Country Head - Retail Liabilities, Marketing & Direct Banking Channels, HDFC Bank, said, “In continuation of HDFC Bank’s tradition of using cutting edge technology to provide the best in world class banking experience to its customers, I am pleased to announce the launch of India’s first virtual credit card on Reliance Mobile phones. An HDFC Bank customer can now shop using his Reliance Mobile and make payments without disclosing details of his credit card.”

Speaking on the occasion, Mahesh Prasad, President, Applications, Solutions and Content Group, Reliance Communications, said, “We are very pleased to partner with HDFC Bank to provide our subscribers with this first-of-its-kind offer. We are very excited that all Reliance Mobile customers can participate in the mobile credit card evolution. This is another step towards making mobile commerce a reality in India.”

Reliance mPay services will offer Reliance Mobile post-paid bill payment, pre-paid top-up, and payment of Reliance Energy monthly electricity bills, and would be extended to allow the customer to book movie tickets, travel tickets, merchant payments at shops, restaurants, shopping on the Internet, etc.

There is no financial risk to the customer in case of loss of mobile phone as the use of the Reliance mPay is PIN protected. To use the service and make any payment, the customer will have to use the PIN (issued to the customer at the time of issue of this virtual credit card). As all transactions are initiated using the mobile number (to which the Reliance mPay service is issued), there is no risk of card skimming, card compromise on the Internet, etc., thereby ensuring no misuse on the Internet.


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