PayPal 'Virtual Debit Card' Beta Seeks to Eliminate ID Theft

Malcontent · Dec 28, 2006

http://www.betanews.com/article/Pay...d_Beta_Seeks_to_Eliminate_ID_Theft/1167345809

The PayPal division of eBay, which operates the Web's most respected online payment voucher system, is beginning beta trials of a next-generation online payment system, in cooperation with MasterCard. Using what's described as a virtual debit card, a customer will be able to make a PayPal-authorized purchase using a one-time number good only for that transaction.

Perhaps the most innovative feature of the VDC system, the implications of which could be enormous if the trial is successful, is that it generates a new MasterCard number for each purchase. That number will be automatically filled in forms for retailers that accept MasterCard, by way of a browser-based add-in program. Once that number is validated, and a supplemental verification takes place between PayPal and MasterCard, that number would be discontinued.
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lu_chin · Dec 28, 2006

Hmm, sounds interesting although Citibank had a similar Virtual Card available for years. But may be Paypal has some "extra" features not available in similar services by other banks.

Happy New Year to all.

Malcontent said:

http://www.betanews.com/article/Pay...d_Beta_Seeks_to_Eliminate_ID_Theft/1167345809
Click to expand...

Rasheed187 · Jan 1, 2007

Yes, sounds interesting and I really think this is a good idea because it´s just a fact that paying with creditcards (online and offline) is not exactly a bulletproof system, it sucks.

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PayPal 'Virtual Debit Card' Beta Seeks to Eliminate ID Theft

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