Paypal Alternative for Indians – Shop Online using IDBI Debit Cards Verified by Visa feature

Paypal restricted indian users from storing online earnings due to RBI guidelines and denied to work like a bank in india. Because of this change indians can no longer store their online earning on paypal for future spending or for hosting/bill payments. This is actually very serious issue for those who can’t get credit due to their low earning.

For example, those who work online as freelancer, blogger or developer, work from home mothers are not given credit card by most of the indian banks due to their less quarterly earning or transactions in saving or current account. To make matter worst indian debit cards are also not accepted without integration with visa/mastercard.

In order to solve this problem i did a little bit of search by asking bank authorities on resolution of this issue. I found that HDFC, IDBI and ICICI have their own ways of generating online transaction code for visa/mastercard enabled debit cards. This information is hardly passed by bank’s website and because of which we’re not aware of these features.

– If your debit card is verified by visa or mastercard and issued by IDBI bank then the information in this article is applicable to you. Mastercard’s maestro is not applicable for online transaction, so you need to get either mastercard or visa card.

Follow these steps to get your securecode from IDBI bank interface.

Step 1 :
Go to IDBI Bank’s official Sign up page. If you want to register by consulting bank authority then you can skip these steps and go to nearest branch and generate the code from there.

Step 2: You need to enter card number, expiry date and atm pin.

Step 3: In this step you’ll get important information about your account. Save this info on some file or book so that you can use it to remember later.

That’s it! You’re done with the Visa secure code interface. You can now skip paypal from now on and buy anything you want from online shops simply by entering visa related details that you generated earlier steps.

If you’re accepting money via paypal then don’t forget to connect your IDBI bank account in paypal’s profile. By doing this you’ll be able to withdraw money to your IDBI account and can also use it to spend online. So for spending online you don’t need paypal at all and for accepting money you can use their interface to get money to your bank account.