Originally published November 29 2005
Virtual credit cards can help protect online customers
by Mike Adams, the Health Ranger, NaturalNews Editor
Virtual credit card numbers are now available to Discover, CitiBank and MBNA cardholders. The numbers are "single-use" or can be used at the same site more than once. All of the cardholder's information is concealed.
Cardholders of Discover, CitiBank and MBNA credit cards have the option of participating in a program using virtual credit card numbers aka single-use credit card numbers.
The program was designed to give consumers concerned with credit card fraud and identity theft some peace of mind when making purchases online.
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.
According to a recent article in the Washington Post, virtual 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.
The virtual card technology has been around for six years, but according to consumer advocates the technology has not been very popular with consumers.
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.
Curtis Arnold, founder of CardRatings.com, sums up the benefits of the technology by stating that, "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."
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