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Banks Finally Pushing Disposable Credit Card Numbers
from the gotta-fight-fraud dept
It's only taken them a few years, but it appears that banks and credit card companies are finally realizing that maybe (just maybe) it would be smart to promote their disposable credit card number offerings. Many have offered such services for a while, but most people still don't know about them. They let online shoppers generate a "disposable" credit card number that can be used for a single-time purchase (or only in association with a single vendor), without fear that your actual credit card number will be exposed. If someone does get the number, it won't work, since it's already been disposed, or won't be in association with the specific vendor. Still, as the article points out, American Express has gone in the other direction, and has shut down its own disposable credit card number program saying there are plenty of other security safeguards (there are?). Meanwhile, others like Privacy Inc. think that it shouldn't be the banks that are managing your info anyway.
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MBNA
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Citibank
They offer an installed application for Windows, or a Java applet for Mac (or a windows system where you are unable or unwilling to install an application). The software works with (most?) proxy firewalls.
I've only had a couple of online merchants reject the "virtual account number", and in both cases their online payment form immediately refused to recognize it as valid.
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Cost of doing business
Hey, if the credit card merchants don't seem too worried about thief's getting my credit card #'s ... why should I ?
The truth is the credit card industry does not CARE if there is xxx amount of fraud a year. It is simply looked @ as a cost of doing business and you & I as the consumers pay for it in inflated finance charges.
Each person posting above has mentioned that retailers either won't accept the #'s or they have had difficulties using them. The industry will continue to write off xxx amount a year as fraud & disposable credit card #'s will never take off.
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airsoft guns
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