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How Are Virtual Credit Card Numbers Used |
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Written by Webmaster
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Wednesday, 14 January 2009 |
By Alisdair Cosgrove
 While they are getting noticed by more and more people, the use of single-use or virtual credit card numbers will continue as new consumers learn the security benefits of the numbers for online purchases.
These virtual credit card numbers are analogous to the disposable cameras that many people take on vacation instead of their more expensive cameras. Both serve the same basic purpose, protecting precious information or products from theft or damage.
While it may no longer seem odd, the number of credit/debit card fraud and outright identity theft are more concentrated than they once were. Worried consumers and credit card companies are putting new solutions into practice that lower risk while not sacrificing the convenience of using credit cards to buy from local retailers and online. Among the potential answers to these serious problems, the virtual credit card number holds enormous promise.
With a virtual credit card number, you can make purchases online at anytime of the day or night. These temporary numbers allow you make complete transactions without revealing your actual credit
card number. Very often, the virtual credit card number is designed to be used only once at a single website. Sometimes, the card number can be used for multiple purchases because it is valid for a set time limit. This period allows you plenty of opportunity to use the number before it becomes inactive.
People are using virtual credit card numbers because are a means to safeguard your real credit card number from improper use or abuse that could lead to credit damage. If a hacker infiltrates a credit card processing center online to snatch card information, they will come away with worthless numbers. When they try to use the number, the virtual card will no longer be valid.
Even when it seems like your card information is completely safe on a secure location and you are fairly sure that the data is not vulnerable during online payment submissions, there is another threat. Unfortunately, there are some online merchants who may take your information and put it into the hands of criminals.
It must be said that most of the larger and legitimate online retailers have sound credit card processing centers that are made to keep information totally secure. Still, this does not eliminate the possibility that a merchant or dealer may choose to compromise information gleaned from credit card numbers for a profit.
Virtual credit card numbers are a great source of additional security. Hackers and other criminals will not be able to make use of the numbers to make their own purchase because the numbers will no longer work. Those consumers who make several purchases each month will see the awesome benefits of using virtual numbers to secure all of their transactions and protection their information.
Alisdair Cosgrove is a freelance writer specializing in personal finance. You can read more of his work at www.JSNet.org for credit card comparisons including cash back credit cards and also offers a comprehensive list of airline credit cards.
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Last Updated ( Wednesday, 14 January 2009 )
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