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