How to Use and Pay with a Debit Card?

What is Debit Card

A Debit Card is a plastic payment card to make any transaction at the Bank ATM or to the merchant. Unlike another plastic card like a credit card, any transaction is done through a debit card that transfers the money from the bank account of a cardholder. With the debit card, the use of real cash or cheques has been reduced significantly.

Why has Debit Card Replaced Use of Cash & Cheques

 A debit card offers the following benefits to card users.

  1. With the Mastercards, it has become possible to withdraw the cash 24*7.
  2. A debit card has undoubtedly reduced the risk of money loss, and in the case where the card gets stolen, it can be blocked immediately.
  3. A debit card is easy to carry anytime and can be issued free of cost.
  4. The most significant advantage of a virtual debit card is that it can be used conveniently at our comfort zones for ATM withdrawals, Online shopping, and making payment through Point-of-sale machines.
  5. With the quick transactions and several bonuses and rewards, the debit cards have indeed become the preferred choice for making transactions.

Debit Card EMI:

It is not a surprise that a debit card has transformed the ways of doing transactions. With the debit card, EMI options our financial needs are met in an upgraded manner. You can get an EMI with your debit cards if you don’t have the necessary balance in your bank account. With the bank approved overdraft facility, the amount of EMI is deducted every month.

Presently, you can avail debit EMI by using HDFC, SBI, Axis, ICICI, and Kotak Mahindra debit cards. However, you have to pay certain charges for debit card EMI.

Different Types of a Debit Card

These are some of the commonly used debit cards in India.

  1. Visa Cards-  These debit cards come with the overdraft facility, and there are no charges on cash withdrawals if you are using Visa debit cards.
  2. Master Cards- Mastercards can be used by people to withdraw funds worldwide.
  3. Rupay Cards- Launched by The National Payments Corporation of India, these cards can be used at ATMs, Point-of-Sale terminals, and by most online merchants in the country.
  4. Contactless- These cards have a built-in radio frequency module that allows you to make payments by simply waving the card over the machine.
  5. Maestro Cards-These cards can be accepted for payments at domestic and international PoS outlets.

Using Debit Card through Different Mediums

A debit card has multiple functions. It can be used through various mediums such as ATM, Internet banking, mobile applications, and point-of-sale machines.

How to Use Debit Card for Online Payments:

A virtual debit card is used for online shopping, paying rents and other utility bills, ordering food, etc. It is a secure way of doing business transactions as the debit card details are not provided to them. Here is a step-wise guide to using the debit card online.

  •  At the payment checkout, choose “Pay Using Debit/ Credit Card. 
  • Next, type your 16-digit Debit Card number. Enter the expiry date of the card.
  • After entering the card details, enter the CVV number. CVV number is a three or four-digit number mostly found on the back of cards.
  • As you have entered all the details, you will be asked to enter an OTP (one-time-password) that is sent to the mobile number linked to your Debit Cards.
  • Next, you will receive the notification about the completion of the transaction.

To use debit cards in the swipe machine, you will be asked to enter your debit card Pin after the merchant swipes the card in the swiping machine. The transaction is completed as you press enter in a few minutes. A debit card can also be used at ATMs to withdraw money from the bank account.

Thus, using and paying with a debit card is simple to make any transactions online through net banking or mobile application.

Also, Read This: Difference Between Credit Card and Debit Card

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