Virtual Credit Cards – Pranksters And Cheaters Take A Walk
While the advent of information technologyin conjunction with credit cards has made the life very convenient as any thing canbe obtained at the click of a mouse, it has also increased the susceptibility towardsfrauds as well.
The fraudsters after taking the cards and the PIN numbers do online transactionsand lead to a situation of despair for many of us.
There was an apprehension that withthe intensity of online frauds increasing the luxury of conducting all the businessrelated and personal transactions from the comfort of home may become a thing of thepast.
But it has not happened like that.
After all, the creator is one step ahead than thedestroyer.
The lucrative business proposition that the credit card companies have createdfor themselves could not be allowed to die a slow death.
So, the panacea was found inthe virtual world itself, and the genie unplugged out of the bottle was Virtual Credit Cards.
What is a virtual credit card? A virtual credit card is a card that existsin a virtual world.
It does not have any physical shape or size.
The validity of the card isalso transaction limited.
The card has come into vogue so that the transactions can bedone in the cyber world without using the physical card.
This is to instill confidencein the user about the security of the transaction.
Whenever a transaction is to be done throughthe credit card, and if it has an option to generate virtual credit card, it would giveyou an option of generating the same on screen, before the transaction is to be completed.
This is done through a note or a dialogue box that would pop-up on the screen and wouldask you whether you want to use the virtual credit card to complete the transaction.
Virtualcredit card therefore can also be termed as a pre-paid card in the virtual world.
As thevirtual credit card is a pre-paid card with a fixed denomination value, it can only beused for a specific transaction and after that the card is destroyed from the records.
For every new transaction that is to be done, a new virtual credit card is generated sothe cheaters and fraudsters cannot con you even though they might have copied the numberof the card stealthily, as it is self-destructing.
When you use the virtual credit card, it providesprotection about your financial information.
The biggest advantage of virtual credit cardsis that it comes with zero liability against any unauthorized purchases made from youraccount.
Another advantage of virtual credit card isthat as it generates a new number every time, there is no chance of number being misusedat all.
Besides, the virtual credit card is free of cost and no maintenance or membershipcharge is made on this card.
If you are using it, there is no download or user charge aswell for using the virtual credit card.
You can be assured that the transaction done byyou is safe as a dialogue box appears on the screen which announces that the informationbeing passed on to the web is encrypted by a state of art encryption method.