Online Shopping Security How About A Virtual Credit Card
Below is a MRR and PLR article in category Internet Business -> subcategory Web Hosting.
Online Shopping Security: Consider a Virtual Credit Card
Summary:
Despite advancements in online security, many people are still hesitant to shop on the Internet due to fears of credit card fraud. Virtual credit cards offer an extra layer of protection for these wary consumers.
Article:
Research shows that the primary reason many people avoid shopping online is the fear that their personal information, especially credit card numbers, might be stolen by hackers. While online fraud has occurred in the past, laws and bank policies have evolved to protect consumers against such threats.
Even with these protections, the fear of potential identity theft and the hassle of correcting issues on consumer reports remain significant concerns. Although many credit card issuers offer zero liability for fraudulent online purchases, fixing the damage can be a time-consuming ordeal for victims.
Thankfully, there are several precautions one can take to minimize the risk of online fraud. Checking the privacy policies of websites and credit card issuers, ensuring transactions are conducted in secure and encrypted environments, and looking for reputable symbols like the BBB or Trust-e can all help. Additionally, avoiding email offers, routinely checking credit card statements for strange transactions, and shredding documents with personal information before disposal are wise practices.
Still worried? A virtual credit card (VCC) offers an enhanced layer of security for online shoppers. These cards provide a temporary number that typically expires within one to three months and can only be used at the specified online store. This unique feature renders the card number useless to hackers, as it cannot be used elsewhere. The transaction details remain confidential between the consumer and the bank.
Currently, virtual cards are available to Citi, Discover, and NBNA cardholders, designed specifically to give peace of mind to those worried about credit card fraud. Though each issuer's process may differ slightly, the overall goal remains the same: security. Consumers can sign up for a virtual card on their credit card's website and download security software to their computer. When ready to shop, a randomly generated card number is provided for use at the chosen online retailer.
While initially created for Internet shopping, virtual cards can also be used for mail and phone purchases. However, they cannot be used in physical stores that require a traditional plastic card. Virtual cards are also unsuitable for transactions requiring the physical card at purchase pickup, such as car rentals or theater tickets.
Despite being around for about six years, virtual credit cards haven’t gained widespread popularity, partly due to a lack of aggressive promotion. Are they necessary? Like any security measure, it depends on the individual's comfort and needs. Virtual cards offer an added layer of protection and peace of mind for those concerned about online security.
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