Hi Friends,
Have you done online shopping? Were you
curious that someone would use your credentials and go on spending it so that
you would be in dept? Since you are giving your card number the expiry date,
the CVV, yes you absolutely have the right to be afraid.
VCC (Virtual credit cards) is the alternative that was
introduced to overcome that fear.
So, what are these VCC?
Actually, a VCC is similar to a
credit card, they provide the facility to the card holders to use the card
without exposing the true credentials of the actual credit card.
The issuer or the service provider
will allow you to have the function to lock or delete the particular VCC number,
you are also provided with the facility to limit the number of uses at a single
merchant and you are responsible to add the spending limits of the card.
You can easily remove the VCC
without affecting the actual credit card.
Note that the credit card is
always linked with the VCC.
Some link PayPal to the card and
the Pay pal is linked to the bank account.
VCC is a facility that only provides
its services for online shopping, you may not use it to directly gain cash, but
there is an alternative way where you could link the card to a bank account and
get the cash there.
Today most online businessmen use
these VCC’s, for an example an eBay trader can enjoy huge benefits because id
there is an issue with the eBay account you need not remake your credit or
debit cards you can easily change the virtual card number.
The cons of VCC’s are they are not
ideal for transactions with refunds and since their expiration dates are low
this may also be an issue for your active subscriptions.
Today most banks provide VCC’s to
their customers because of their popularity.
Have you used a VCC? What are your
experiences? Comment in to join the discussion.
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