E-Wallet is an digital card which performs like a charge or credit score cards for making protected on the internet expenses towards a vendor. It can be designed by all Axis Financial institution on the internet financial clients and also no signing up is required for the same.
The main advantage of this card is that the debit/credit card variety is not affected on an unidentified web page. Any client, who does not have a debit/credit card OR is challenge an on the internet deal on a web page whose authenticity/security is not confident from his viewpoint, he may be reluctant to discuss his debit/credit card variety to this relatively new and unsafe web page.
While making payments online by using an e-Wallet Card, you don't have to reveal our credit/debit card number. Therefore there is no risk of your credit/debit card number getting exposed on the online transaction on the merchant website.
A e-Wallet Card allows you to create a card with limits as per your requirements. Hence, you can create a card ranging from Rs. 10 to
Rs. 50, 000 as per your payment needs.
A e-Wallet Card will be valid for maximum 48 hours from the time of creation. If the card is not used within this validity period, the card gets blocked and the funds are reversed in your account (the source account from which the card was created) within 4 working days.
A e-Wallet Card can be used only for a single transaction within the validity period. Once used, the card gets blocked and cannot be used again. In case you wish to carry out another transaction, you can create a new e-Wallet Card on Axis Bank Internet banking.
In case you use your E-Wallet Card for a partial amount, the un-utilized amount will be credited back to your bank account. (The refund would be processed post settlement with Visa.)
e-Wallet Cards work for both debit/credit cards whereas E shop cards work only for credit cards.
Has an added security feature in the form of VBV password
If the customer has registered his mobile with his axis internet banking account, then if a transaction greater than Rs 5,000 is done he would be informed on his registered mobile via sms (2 factor authentication).
Your E-Wallet Card is created online via 2 factor authentication on Internet banking.
An e-Wallet Card expires in 48 HRS from time of creation if unutilized and the amount is reversed to your account.
An e-Wallet Card is an online, single transaction card. Once used, this card can't be re-used.
You will be the first and the only person to use the card. The used cards get blocked and are never re-issued.
e-Wallet Cards have no direct linkage to your debit or credit card.Hence you don't divulge any physical card information while using e-Wallet Card.