No doubt that online shopping is extremely convenient as it saves time and enables you to find the best prices without having to leave your homes. Well, getting your products is quite easy as you just need to put the item in your cart and check out. However, at checkout, do you hesitate a little when you need to enter your credit card number? Well, most people do, and it’s absolutely normal as you are concerned that your credit card number may fall into the wrong hands. This is where a single use credit card number comes as a savior.
Even when you shop online, you love your privacy. A single use credit card number helps you keep your privacy. It generates a one-time credit card number for online shopping that is only valid for a single purchase.
This will happen every time you purchase something online. This will save you from giving your actual credit card number, and therefore it will reduce the chances of you falling victim to online fraud such as identity theft.
Prevention from Identity theft!
Identity theft, along with other types of fraud, related to the use of credit cards is quite common these days. Large corporations and Individuals every now and then have all been the victims of such frauds and crimes. With increasing breaches in online security, even at the major corporations, consumers are enforced to look for better ways to shield their sensitive financial information.
How does single use credit card number help?
This number can only be used at the website where you make a purchase and that too for a limited time. This saves you in case hackers have accessed your real credit card details during the process of submission. Hackers won’t be able to use single use credit card number order to make a purchase, as it can only be used once.
It also saves you when shopping with online merchants, who may not be reliable. The only merchant’s credit card processing system usually sends the details directly from your screen to the credit card processor, however, in a few cases an unreliable merchant may have set it up to enable himself (or herself) to get a copy of each person’s credit card details. This is where a virtual card number makes it unfeasible for the retailer to take the number and go shopping.
There are many benefits of using a single use credit card number. Let’s check out a few of them:
- Single use credit cards prevent you from falling victim to identity theft since your real account number is never exposed during a transaction.
- You can also set a limit the amount of money on the card. For example, if you only put $200 on an account number, this amount is all that can be spent in case the number was somehow get stolen.
- A hacker or thief would only be able to make use of a given number for one exact merchant, which will limit the facility to make purchases on your account.
- A single use credit card number is perfect in case you want to store your credit card info with an online vendor.
- Single use credit account numbers are generated through downloaded software or through your financial institutions’ website and the account numbers can be used online and for telephone orders and mails.
Single use credit card number is a great source of added security. For those who use credit cards to purchase just about everything online, the security provided by this one-time use credit card number can be the best thing they ever come across.