Virtual Credit Card: Cheap, Reliable, Secure Way To Purchase Online

Hyderabad, May 21, 2013 -Are you scared of using your credit card online on some website because you feel there might be  fraud or a security threat? If that’s the case, then welcome to the world of Virtual credit cards, which I will explain in today’s article and also how it can be useful for you.

What is a Virtual Credit Card?

A virtual credit card (VCC) is a disposable credir card or a soft copy or plastic credir card with which can make online purchases(payment) most time just once because its expiration period is one or two months maximum. Virtual Credit Card is a one-time usable card which comes with a preloaded amount that is valid only for a specified time period. Virtual Credit Cards can’t felt or touched as their number, expiry date and CVV are only visible online. 

The key details of the virtual credit cards like the card number, expiry date, CVV number etc. are used when using the card online, but the user's primary card details are never shared with the merchant online. So, while using the virtual credit card online, users need not worry about losing their card or carrying their card safely in their wallet.

There are many banks which offers virtual cards instantly these days. Some of the major banks are:

ICICI Bank - ICICI VCC
HDFC Bank - HDFC NetSafe
Kotak Mahindra Bank- Kotak netc@rd
State Bank of India- SBI Virtual Card
Axis Bank - Axis e-wallet card

Why Virtual Credit Cards ? 

Virtual Credit Cards have one great adavantage and that is it ensures the money is secured because identity and the original details of our Original Credit Card are not revealed online thus protecting the buyer from hackers and or / fraudulent individuals and coupled with the fact that Virtual Credit Cards are only valid for one or two month, there is gurantee of a safe and secure online shopping experience. 

VCC help protect the user from identity theft, because the card cannot be used to provide proof of the thief's false identity. Virtual cards do not carry any of the owner's personal information, and only carry the temporary number provided by the company. 

Another benefit of a virtual credit card is its convenience. These cards allow the user to make online purchases without having to search for his physical credit card information first. All that the user needs to remember is the virtual card number itself. 

Virtual credit cards do come with certain disadvantages, however. They are usually limited to use on the Internet and cannot be used for offline transactions. Furthermore, their online use is restricted to certain types of purchases, as some merchants require real credit cards and personal information. 

The short expiry time for virtual cards, while providing security for the user, can also be an inconvenience. Failure to use the card before its expiry date means having to get a new one. The credit card user may specifically request a different duration for his virtual credit card, as well as the ability to reuse a virtual card number for a certainmerchant for the sake of convenience. Doing so may, however, raise the risks associated with using credit cards online. The processing time for virtual credit cards tends to be longer than that of physical credit cards as well.

Validity of the virtual card ?

Once you complete the transaction or if the card is cancelled. In case card is not used for 48 hours after creation, whichever is earlier.

How is Virtual Card safer?

The customer details (your bank account No., mobile No. , email address, etc) are not shared with Merchant / Vendor. The Card is a single usage card, i.e once used successfully it cannot be reused. The available window for Card usage is limited to a maximum period of 48 hrs. Card is created using secure Internet Banking website and Card limit is decided at the time of creation. Both Card creation and usage during online transaction are authorised only after successful validation of OTP, making it more secure. Refund/Cancellation.

Refund/Cancellation ?

In case of SBI card, once card is cancelled or expired, the lien marked shall be lifted and the unspent / unutilised amount will automatically be available to the customer for use. Validity Once you complete the transaction or if the card is cancelled. In case card is not used for 48 hours after creation, whichever is earlier.

Tarceva approval for first-line use in EGFR lung cancer

May 14, Hyderabad, India – The U.S. Food and Drug Administration approved the cobas EGFR Mutation Test, a companion diagnostic for the cancer drug Tarceva (erlotinib). This is the first FDA-approved companion diagnostic that detects epidermal growth factor receptor (EGFR) gene mutations, which are present in approximately 10 percent of non-small cell lung cancers (NSCLC).

 The test is being approved with an expanded use for Tarceva as a first-line treatment for patients with NSCLC that has spread to other parts of the body (metastasized) and who have certain mutations in the EGFR gene.

Lung cancer is the leading cause of cancer-related death among men and women. According to the National Cancer Institute, there will be an estimated 228,190 new cases of lung cancer this year, and 159,480 deaths. About 85 percent of lung cancers are NSCLC, making it the most common type of lung cancer.

 “The approval of the cobas EGFR Mutation Test will allow physicians to identify non-small cell lung cancer patients who are candidates for receiving Tarceva as first line therapy,” said Alberto Gutierrez, Ph.D., director of the Office of In Vitro Diagnostics and Radiological Health in the FDA’s Center for Devices and Radiological Health. “Companion diagnostics play an important role in determining which therapies are the safest and most effective for a particular patient.”  

 The safety and effectiveness of the cobas EGFR Mutation Test was established with clinical data showing that, on average, NSCLC patients with specific types of EGFR mutations (exon 19 deletions or exon 21 L858R substitution mutations) lived without their disease progressing for 10.4 months when they received Tarceva treatment, compared to 5.4 months for those who received a standard two-drug chemotherapy regimen. Investigators used tumor samples from the clinical trial to validate the test’s use in this patient population.

 The approval is Tarceva’s fourth indication and the third use for lung cancer. The FDA approved Tarceva on April 16, 2010, for maintenance treatment of patients with locally advanced or metastatic NSCLC whose disease has not progressed after four cycles of platinum-based first-line chemotherapy. Tarceva was originally approved in November 2004 for the treatment of patients with locally advanced or metastatic NSCLC after failure of at least one prior chemotherapy regimen.

New drug for advanced prostate cancer

May 15, Hyderabad, India – The U.S. Food and Drug Administration approved Xofigo (radium Ra 223 dichloride) to treat men with symptomatic late-stage (metastatic) castration-resistant prostate cancer that has spread to bones but not to other organs. It is intended for men whose cancer has spread after receiving medical or surgical therapy to lower testosterone.

 Prostate cancer forms in a gland in the male reproductive system found below the bladder and in front of the rectum. The male sex hormone testosterone stimulates the prostate tumors to grow. According to the National Cancer Institute, an estimated 238,590 men will be diagnosed with prostate cancer and 29,720 will die from the disease in 2013.

 Xofigo is being approved more than three months ahead of the product’s prescription drug user fee goal date of Aug. 14, 2013, the date the agency was scheduled to complete review of the drug application. The FDA reviewed Xofigo under the agency’s priority review program, which provides for an expedited review of drugs that appear to provide safe and effective therapy when no satisfactory alternative therapy exists, or offer significant improvement compared to marketed products.

 “Xofigo binds with minerals in the bone to deliver radiation directly to bone tumors, limiting the damage to the surrounding normal tissues,” said Richard Pazdur, M.D., director of the Office of Hematology and Oncology Products in the FDA’s Center for Drug Evaluation and Research. “Xofigo is the second prostate cancer drug approved by the FDA in the past year that demonstrates an ability to extend the survival of men with metastatic prostate cancer.”

In August 2012, the FDA approved Xtandi to treat men with metastatic castration-resistant prostate cancer that has spread or recurred, even with medical or surgical therapy to minimize testosterone. Xtandi is approved for patients who have previously been treated the chemotherapy drug docetaxel.

Xofigo’s safety and effectiveness were evaluated in a single clinical trial of 809 men with symptomatic castration-resistant prostate cancer that spread to bones but not to other organs. Patients were randomly assigned to receive Xofigo or a placebo plus best standard of care.

The most common side effects reported during clinical trials in men receiving Xofigo were nausea, diarrhea, vomiting and swelling of the leg, ankle or foot. The most common abnormalities detected during blood testing included low levels of red blood cells (anemia), lymphocytes (lymphocytopenia), white blood cells (leukopenia), platelets (thrombocytopenia) and infection-fighting white blood cells (neutropenia).

YES BANK Wins The Coveted Golden Peacock Global Business Excellence Award

Mumbai, India,  May 13, 2013 - YES BANK, India’s fourth largest private sector Bank, has received the coveted Golden Peacock Global Business Excellence Award 2013 at the Dubai Global Convention on Business Excellence. YES BANK was awarded this recognition in the Financial Services - Banking Category. The Award was presented by H.E. Hon. Sayyad Abd-Al-Cader Sayed Hossen, Minister of Industry, Commerce and Consumer Protection- Govt. of Mauritius. 

The event was also graced by His Highness Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture Youth and Community Development- Govt. of UAE; Hon’ble Ajit Singh, Union Minister for Civil Aviation-Govt. of India and H.E. Hani R. Al Hamli, Secretary General – Dubai Economic Council.

On receiving the accolade, Rana Kapoor, Managing Director & CEO, said, “We are extremely pleased to receive this prestigious recognition which is a testament of YES BANK’s business excellence, strong processes driven approach and proficient management practices. We recognize that consistent and superior service delivery is a key pillar for us to achieve our vision of Building the Best Quality Bank of the World in India.” 

YES BANK has won numerous international recognitions for ingraining business excellence. YES BANK was conferred the Best Managed Bank in India at the Asian Banker Leadership Achievement Awards 2013 at Jakarta, Indonesia; the ‘The Strongest Bank in India’ by the Asian Banker Magazine and was also recognized as one of the two top Indian organizations to feature in the top 50 Corporate Governance rankings by CLSA Asia-Pacific Markets, Asia's leading independent brokerage and investment group among others.

About the Golden Peacock Global Business Excellence Award

The Golden Peacock Global Business Excellence Framework (GPGBEF) seeks to characterize validated best management practices, as a basis for accelerating the rate of organizational improvement. The Award has been instituted by the Institute of Directors to encourage Business Excellence achievements in both manufacturing as well as service organizations globally.