With the rapid increase in the use of credit cards, the credit card frauds are also increasing. The virtual credit cards are offered as a protective measure for all these fraudulent activities. The services are mainly designed to protect personal information theft.
The virtual credit card services, also known as substitute credit cards, are an effective measure to stop credit card frauds. These services are mainly designed for the online shopping activities because majority of the credit card fraud activities are done through the Internet.
Fact about Virtual Credit Cards
The virtual credit cards have similarity with the original credit cards in the sense that the cardholders make use of a plastic card for every kind of transaction through the Internet. However, the mechanism of virtual cards is totally different because these credit cards use one number for a single transaction. Once the number is used, it cannot be used for further transaction. The numbers remain active for maximum period of two months and then it expires automatically. The maximum amount that can be spend through this card is also fixed and because of this the virtual credit cards are very safe.
More on Virtual Credit Cards
The virtual credit cards are offered by almost all credit card providers. These cards are similar to the gift vouchers that are issued by the banks because the highest spending limit is pre-fixed. These cards are known by different names that depend on the card providing company but the mechanism of the card remains the same.
Advantages of Virtual Credit Cards
These cards have a number of attractive features but the biggest benefit of these cards is the capacity to check the fraudulent activities. As these cards expire within a short period and the highest limit of spending is also pre-decided, the hackers are not so much interested about these cards. On the other hand, the virtual credit cardholders are also provided with additional coverage against any kind of misuse. As a result of such features, these cards are gaining popularity and especially the regular online shoppers are preferring these very much.
