Having made its groundbreaking entry in United States between the wars, the ubiquitous credit card or plastic money has revolutionized the credit transactions. Its use as a currency compels the debtor to keep his word and in turn creates feelings of trust and honesty. But through the passage of time, faster and effortless transactions are desired for speedy completion of tasks.
Add to that the fact that only credit card users are entitled to the benefits of online transactions. Many of them are also hesitant to actually savor the advantages as their personal information can be exploited. Technology and corporate feasibility have developed a solution- Virtual Credit Cards.
Concept of Virtual Credit Cards
A simple Virtual Credit card is nothing beyond a registered internet account which performs all the obligations of regular plastic currency. The unique feature of such a card is that it ceases to exist in physical nature. Its use does not require you to disclose your personal facts.
Your name, address and other details will remain secure even while you carry out purchases and hires via the Internet. This means that the user can transact freely without worrying about security or safety.
Geopolitical factors such as restrictions on inter-country transactions and legalities can be some hurdles but one can escape them by using proxies or representative servers.
The Possible Users
Virtual Credit Cards will be of great benefit to both credit card owners as well as those who have not yet availed of online transactions. Internet users, who wish to make payments discreetly and do not want their private data to be misused, will particularly find VCCs of great help.
Once the payments are approved through the VCC, the necessary expenses will be paid through online organizations which include WebMoney, Liberty Reserve, MoneyBooker and others. Transfers of funds can also take place through the reliable Western Union.
A prominent characteristic of a VCC is that its information is revealed only after the payments are made. The user does not have to worry about any illegitimate use of information. Some of the details include the type of the card used, the card number, the verification code as well as the date at which it expires. The major player is Visa Virtual. Visa and MasterCard issue most of the VCCs.
Applications and Uses
A VCC provides a user with the freedom similar to that by a regular credit card. It can be used almost in all online purchases, issues, transfers etc. However in cases of purchasing goods which have to be physically delivered, disclosure of a credible address is necessary.
Of course, Virtual Credit Card can be misused but a legitimate and legal use can prove it to be a miracle. So, what other you are looking for? Go and try out the miracle and do whatever you want the financial front by using the card, which is hailed as the most amazing tool the financial world has ever gifted to the mankind.