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.
Virtual credit card numbers are similar to the buy vcc disposable cameras that people by when on vacation rather than taking their expensive cameras. Each is meant to function in the place of something else. The virtual credit card numbers protect personal or credit information while performing transaction over the internet.
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. Individuals and card companies are looking for the right approach, one that protects consumer card information while also lowering the risks. By far one of the more innovative solutions to these circumstances has been the development and issuing of virtual credit card numbers.
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.
The purpose of virtual credit card numbers is stand in as the real number so that it protects you from fraudulent card use that can damage credit. For the computer criminal who penetrates secure processing centers to scavenge card info, the virtual number can make all the difference. If they try to use them, they will come up with nothing.
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.