Recently I got an Email from a Blog reader asking whether he can use NetSafe with PayPal? The Answer is YES, provided that you carry out the whole transaction process correctly.
Update: Many users have reported that PayPal has stopped accepting payments from Netsafe. Also, the bank has disabled generating of virtual credit cards from past many months, so I am unable to test it. Following temporarily unavailable message is displayed every time I log in:
If you want to pay online using PayPal, then try to get a real credit card.
What is NetSafe?
NetSafe facility allows you to create a Virtual Credit Card (VCC) online, provided that you already have an active account with HDFC Bank. The card is valid for one time payment and remains valid for 24 Hours after its creation, so that:
- The same card can’t be used on Multiple Websites for online transactions.
- To prevent misuse, the card can’t be processed by any particular merchant more than one time.
You can make use of this card for making payments online in Foreign Currency like US Dollar, Euro, British Pounds etc. User can also set his own Limit in INR, when generating a Netsafe Card.
How to use NetSafe with PayPal?
Follow these steps in order to use VCC with PayPal successfully:
In your NetSafe Account:
Suppose you want to pay $100 using PayPal and VCC. Make use of currency converters and note down the current exchange rate (Example). Now in order to make the transaction smooth, set the Limit in Netsafe Card a bit higher than the current exchange rate (150 to 200 INR more).
The final deducted amount can be seen in your account after some days and rest of the amount (if any) will get refunded to your bank account:
When you land of PayPal payment page via merchant website, don’t jump and log in to your account there! Instead directly start entering following details:
- Make sure that the country is set to India.
- Exact card number you generated using NetSafe.
- Card expiry date (in Month and Year).
- CVV / CVV2 (Card Security Code) in the CSC Field.
- All other remaining information viz. Name, Address, City, State, Pin Code, Telephone (Mobile or Land Line) and Email Address (You will receive your transaction details and summary on this mail address).
NetSafe supports both Visa and MasterCard, so PayPal should accept your Payment without any problem. Click on Review Payment button and Proceed with checkout.
Important Note: Setting VCC Amount (at the time of generating it) LESS than the amount which PayPal is going to charge (as per Exchange Rate) will result in either deduction of Remaining Balance from your Bank Account OR failed transaction.