| Millions of people each year are victims of identity | | | | designed specifically for this purchase. Many program |
| theft. As a result consumers have become even more | | | | request a credit card for trial services, and this credit |
| cautious about the use and release of their credit card | | | | card is especially useful for those events, as the |
| information. Although many consumers want to enjoy | | | | consumer can set an expiration date and do not have |
| the convenience of shopping on-line one-fifth of identity | | | | to worry about cancelling, or unauthorized charges to |
| theft victims claim that on-line credit card use was the | | | | be cleaned up later. |
| primary reason for their identity theft. The number one | | | | Discover offer a virtual credit card program entitled, |
| reason stated by many consumers for not shopping | | | | Deskshop and according to Steve Furman of |
| online is the fear of becoming a victim of identity theft. | | | | Discover, Deskshop has "grown at a fairly strong pace |
| How Can Consumer's Be Safer Shopping On-Line? In | | | | over the last six to eight months." |
| addition to the protection software such as antivirus, | | | | A BETA version of virtual credit card numbers is |
| anti spyware and phishing protection, virtual credit | | | | currently offered to a limited amount of PayPal |
| cards may be one of the most inventive, and unknown | | | | customers. PayPal partnered with MasterCard to |
| services available by credit card companies to make | | | | create its virtual credit card which offers such features |
| shopping online that much safer. | | | | as form fill, and expiration limits. PayPal's BETA version |
| A virtual credit card is replacement for your actual | | | | also offers a downloadable tool bar to make the |
| credit card number that can be used to make | | | | process simpler, a security image to assure customers |
| purchases on line. Some credit card providers call | | | | they are on the PayPal site and fraud alerts to warn |
| them "single-use card numbers." The number assigned | | | | users that a website is fraudulent. There is no |
| is associated with your actual credit card number, but | | | | additional charge for using the PayPal service. |
| the only people aware of this are you and your credit | | | | Each providers program varies according to software |
| card company. The virtual card acts as a protective | | | | and virtual credit card requests. However, all of the |
| layer between you, your purchase and your credit | | | | participating providers offer this service currently at no |
| card information. | | | | charge. Most providers offer this service through their |
| Several banks and credit card companies offer this | | | | website, and may require a download of specific |
| service. Currently, DiscoverCard, Citi Bank and MBNA | | | | software to complete your virtual credit card request |
| credit card companies each have avirtual credit card | | | | and transaction. In many cases, consumer can choose |
| program. American Express testing one, and while | | | | an expiration date for some virtual credit cards that |
| consumers were pleased with it, the program was | | | | ends in one month or up to a year, as long as the date |
| discontinued due to a lack of interest overall among | | | | doesn't extend past the expiration date of the actual |
| customers. | | | | card. Discover's program expiration dates concur with |
| Virtual credit cards are not a new concept. They have | | | | the actual card. Some plans have spending limit options |
| actually been available by many credit card providers | | | | as well. |
| for about approximately7 years, however, with the | | | | Virtual Credit Card numbers can be used for any |
| increase on credit card fraud and identity theft, they | | | | purchase where credit cards are accepted including, |
| are getting more attention by both consumers and | | | | on-line shopping, on-line bill pay, and shopping by mail or |
| business. | | | | catalog order. You can even use it for many television |
| SafeShop, is the name of MBNA's program, which has | | | | or telephone shopping purchases such as QVC and |
| been available for approximately three years. "It's very | | | | HSN. However, purchases made online that require |
| popular with the people who use it," says Jim Donahue, | | | | presentation of your credit card to pick up the |
| spokesman for MBNA. "The only people who know | | | | purchase are not eligible, for example, "will call" game |
| the real number are you and us," Donahue. | | | | tickets. |
| Virtual Account Numbers, is the name given to | | | | Virtual credit cards may take some time to set up and |
| Citibank's protection program. Users may set a | | | | some extra steps prior to completing your on-line |
| monetary limit or an expiration date to be applied to | | | | purchase. However, these extra steps are a simple |
| the virtual credit card number. The virtual number is | | | | and cost effective compared to the steps consumers |
| associated with your real credit card number, but the | | | | may have to take to clear their credit record and |
| information is only available to the credit card holder. | | | | repair the damages made by identity theft due to |
| While shopping you use the "new" credit card number | | | | credit card fraud. |
| which is generated through a CitiBank program and | | | | |