Since the beginning of time, mankind has invented and developed new methods of conducting business and commerce. Credit cards are not a new concept. In the mid-1940s, American Airlines and the Air Transport Association introduced the first credit cards to promote air travel. Later, banks and financial service providers offered the service to their customers. Today’s era of computing power and the diversity of the Internet has further revolutionized the way we conduct our daily financial transactions. Whether it’s shopping online, transferring funds, booking vacations abroad, or purchasing other services online, credit cards make it possible from the comfort of your own home. But are Internet transactions secure enough? Yes, with the introduction of virtual credit cards they now are!

Internet market and pirates

The internet age has brought immense convenience and ease to the customers in choosing the right products. Search the web for what you need and in what price range, all the options available to you will be there. Choose what suits you best and pay with your credit card in just a few clicks. As with all good things that have a downside, the Internet market also experienced a glitch. Web hackers have emerged as a threat to online transactions considered safe. The introduction of virtual credit cards has helped to overcome this problem.

security made possible

Modern encryption techniques and online security protocols/parameters such as SSL, SMPX, etc. they are now in place to ensure maximum security of your financial transactions. As an added measure of security, the concept of virtual credit cards, VCCs, was introduced a long time ago. VCCs are cards that are specifically used on the Internet and are considered a secure mode of online transactions. The use of the SET Protocol (Secure Electronic Transactions) makes possible the security and confidentiality of transactions. The security protocol of the information from the merchant to the client and from the client to the bank is followed, which allows access only to the relevant information for each of the two parties. These are simply cards linked to the users bank credit card or physical bank account that reproduces an alias of the original. All VCC service providers have a payment authorization mechanism. It can be an IVR (Interactive Voice Response) call on your personal cell phone asking you to confirm that you are the one making the transaction or, in certain cases, it can be an email or SMS message sent to your validated number. Or email. Currently, some banks offer temporary or time-limited VCC accounts. The great thing about VCCs is that you can set your own maximum credit limit, expiration date, and specific online locations to buy from. That is, there is no possibility of fraud or misuse of the card.

Virtual Credit Cards: A Great Service

One of these virtual credit card services is Paypal. Offering services that are based solely on digital systems to carry out transactions Paypal is one of the first to start among all virtual credit card payment providers of this type. It has around 81 million trading accounts spread across 190 markets around the world. An innovative post-invoicing service allows customers to be billed for their electronic invoices later via a bank account or credit card. They offer services associated with major online stores. Whether you’re buying accessories from amazon.com, paying for internet advertising, or a domain name from a registry like godaddy.com, Paypal is always there. Another one of the best VCC providers is Entropay. Having funded your Entropay VCC from a regular bank account, they release you to shop over the Internet once you’ve verified your address and other account details. A nominal transaction fee is charged when the card is used. A good alternative to Paypal, Netletter VCC offers a prepaid master card and registration is free. Usage costs per transaction. For people in the US, Netspend offers quality VCC services in association with Visa and Master cards. American Express, a big name in the US banking industry, offers VCC services along with Master Cards and Visa for hassle-free and secure online spending. And there are several other similar services on the market.

Go get it!

A virtual credit card is a must. With technology advancing rapidly and people getting used to easily adapting to newer and easier ways of life, VCC is a boon to both the customer and the retailer. Gone are the days when people who feared identity theft refrained from making purchases or conducting monetary transactions over the web. In this wonderful era of Virtual Credit Cards, if you don’t have one, you’re missing out on a lot.