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Cardholders can sign up for the free program at their credit card company’s website. When they want to make an online purchase, they receive a 16-digit number, randomly generated by the credit card company. This temporary credit card number can be used once or sometimes repeatedly at the same online store.
virtual prepaid credit card numbers were initially designed for Internet shopping, but can be also used for purchases made over the phone as well as through the mail. However, they cannot be used for in-store purchases or whenever a traditional plastic credit card is required for payment.
The virtual credit card technology has been around for six years, but according to consumer advocates the technology has not been very popular with consumers. In fact, American Express dropped its program last year due to lack of interest. Interest in virtual credit cards seems to be increasing, though, thanks to recent headlines regarding identity theft breaches. A major benefit of virtual card programs is that personal information is concealed during the transaction.
A recent study found that 46% of credit card fraud victims had no idea how fraud occurred, but 21% said they believed their credit card number was stolen off the Internet. Obviously, card issuers hope that virtual card programs will help address such concerns.
The virtual card program is simply an extra layer of security to protect the credit and identity of consumers who choose to buy online, much like installing a home security system helps to protect a home from intruders.
visacreditcards.cashbusinessopportunity.com
virtual prepaid credit card numbers were initially designed for Internet shopping, but can be also used for purchases made over the phone as well as through the mail. However, they cannot be used for in-store purchases or whenever a traditional plastic credit card is required for payment.
The virtual credit card technology has been around for six years, but according to consumer advocates the technology has not been very popular with consumers. In fact, American Express dropped its program last year due to lack of interest. Interest in virtual credit cards seems to be increasing, though, thanks to recent headlines regarding identity theft breaches. A major benefit of virtual card programs is that personal information is concealed during the transaction.
A recent study found that 46% of credit card fraud victims had no idea how fraud occurred, but 21% said they believed their credit card number was stolen off the Internet. Obviously, card issuers hope that virtual card programs will help address such concerns.
The virtual card program is simply an extra layer of security to protect the credit and identity of consumers who choose to buy online, much like installing a home security system helps to protect a home from intruders.
visacreditcards.cashbusinessopportunity.com
