Buy virtual credit cards
Since the beginning of time, mankind has been inventing and developing new methods of conducting business and commerce. Credit cards are not a new concept. Dating back to the mid-1940s, the first credit cards were introduced by American Airlines and the Air Transport Association to promote air travel. Later, banks and financial service providers offered the service to their customers. The current age of computing power and the diversity of the Internet has further revolutionized the way we conduct our daily financial transactions. Whether it’s online shopping, transferring funds, booking a holiday abroad or purchasing other services online, credit cards make it all possible from the comfort of your home. But are internet transactions secure enough? Yes, with the introduction of virtual credit cards, they already are!
Internet market and pirates
The internet era has brought immense comfort and ease to the customers in making the right choice of product. Search the web for what you need and in what price range, all available options will be there. Choose the one that suits you best and pay with your credit card with a few keystrokes. As with all good things that have flaws, the Internet market also had a problem. Online hackers have emerged as a threat to otherwise safe online transactions. The introduction of virtual credit cards helped overcome this problem.
Security is possible
Modern encryption techniques and online security protocols/parameters such as SSL, SMPX, etc. are now available to ensure the best security of your financial transactions. As an additional security measure, the concept of virtual credit cards, VCC, has long been introduced. VCCs are cards specifically for use on the Internet and are considered a secure mode of online transactions. The use of the SET (Secure Electronic Transactions) protocol ensures the security and confidentiality of transactions. Merchant-to-customer and customer-to-bank information security protocol is followed, allowing access only to information that is relevant to each of the two parties. These are simply cards linked to the user’s bank credit card or physical bank account that plays an alias of the original. All VCC service providers have a payment authorization mechanism. This can be either an IVR (interactive voice response) call to your personal cell phone asking you to confirm that you are the one making the transaction, or in certain cases it can be either an SMS/e-mail message delivered to your validated number or email. Some banks today provide temporary/time bound VCC accounts. The best thing about VCC is that you can set your own maximum credit limit, expiration date, and specific online locations to shop from. Which means there are no chances of fraud or misuse of the card.
Virtual Credit Cards: Great Service
One such virtual credit card service is Paypal. Offering services that rely entirely on digital transaction systems, Paypal is one of the earliest among all virtual credit card payment providers of its kind. It has around 81 million operating accounts spread across 190 markets worldwide. The innovative Pay Later service allows customers to be charged for their e-invoices later via bank account or credit card. They offer partner services with all major online stores. Whether you’re buying accessories from amazon.com, paying for internet advertising or a domain name from a registrar like godaddy.com, Paypal is always there. Another top VCC provider is Entropay. After they have loaded funds into your Entropay VCC from a regular bank account, they release you to shop online once you have verified your address and other account details. A nominal transaction fee is charged when using the card. A good alternative to Paypal, Netletter VCC offers a prepaid basic card and registration is free. Transaction Usage Costs. For people in the US, Netspend offers quality VCC services in partnership with both visa and master cards. American Express, a big name in the US banking industry, offers VCC services along with master and visa cards for secure, hassle-free online spending. And there are several other similar services on the market.
Take it!
Virtual credit card is required. With technology advancing rapidly and people getting used to easily adapting new, easier ways of life, VCC is a blessing for both the customer and the retailer. Long gone are the days when people fearing identity theft avoided making purchases or conducting monetary transactions online. In this wonderful era of virtual credit cards, if you don’t have one, you’re missing out.
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