Days of ferrying around credit cards seem numbered. It's time now for people to use the 'Mobile Credit Card'; at least Reliance mobile users.

Reliance Communications (RCom) and HDFC Bank have come together to offer India's first virtual credit card to Reliance users possessing HDFC Bank credit cards.

The Reliance 'mPay' credit card allows users to make postpaid bill payments, get pre-paid top-up, and pay Reliance Energy monthly electricity bills.

Users don't need to enter a card number or card verification value (CVV) or expiry date to be able to use the 'mPay' service. HDFC Bank would authenticate all the information with RCom, which would then be used to initiate and authorize all payments using customers' mobile handsets.

The service is extended further to allow users book movie- and travel- tickets, make payments at shops and restaurants, and shop on the Internet.

RCom claims there isn't any financial risk involved in the event users lose their mobile phones; the reason being 'mPay' is PIN-protected. To use the service and make payments, customers need to use the same PIN that is issued them at the time of issue of the virtual credit card.

Besides, as all transactions are initiated using the mobile number to which the 'mPay' service has been issued, there's no risk of card skimming or card compromise on the Internet either, claims RCom.

The 'mPay' credit card can be used with HDFC Bank at any merchant establishment that accepts payment via Reliance 'mPay'.