Despite the high growth rates of e-commerce, the surveys are conducted to determine shopping habits on the Internet in many countries have revealed that one of the biggest barriers to electronic selling, is the Buyer doubt on the safety of introducing data on the network. To solve this problem many financial institutions, many banks and major credit card companies have launched a new product, the virtual credit card.
What is a virtual credit card?
There are several characteristics that differentiate this virtual cards of the traditional, in summary are:
These are prepaid cards, so the cardholder can use it for, you must load it before. The burden is on balance a checking account or credit card to another “normal”. When you load the card the user has the record that has limited the balance of your card balance that you’ve got, so you never, even in case of interception of your data, fraudulent charges may be made, above the balance .
Virtual credit cards offer the possibility to change the keys in each of the operations performed, this gives greater reliability to their owners.
The use of these cards are restricted to internet, so it can only be used for purchases in e-commerce.
There is greater control of spending, because these cards unique to the web, and have limited the amount of pre-disposition to, control over money spent on e-commerce is total.
Virtual credit cards are just virtual, so they do not usually stand in plastic, the issuer generates an account specifically for these cards, which control the balance of inputs and provisions, as well as the operations performed without need for a hardware, and without the risks of loss or misplacement.
Credit cards allow you to download the virtual balance in a bank account associated with your use, so that buying shares completed, can be emptied, to be more secure control over its funds.
Evaluation of virtual credit cards.
It should be stressed that the main advantage of these cards is to generate confidence that they produce in their users.
But do not forget that the major credit card companies and banks and other financial institutions that sell, often incorporate all credit cards, insurance fraud. Using a credit card from a good company, it is certain to be able to claim against possible vandalism actions taken against it.
The security system of the virtual credit card, it’s more a realization of an old system, which avoids the introduction of continuous data on the internet for many years, the prepaid system has been offered by leading companies in electronic commerce such as Paypal, which may operate upon the creation of an account, you can go recharging, without entering personal data in e-commerce websites. Paypal has been offering for many years, support not only to ensure the security of electronic transactions, but also about the delivery of the products offered.
In any case the evaluation of this new product, the virtual credit card, is unambiguously positive, insofar as it strengthens the security of electronic transactions and to generate more confidence in their use.