I was really impressed reading about the beta version of Paypal Virtual Debit Card. With this you can use PayPal Virtual Debit Card when making any online purchases as long as they accept Mastercard. It generates a virtual card number each time you make a transaction online so you won’t be using your personal debit or credit card number–so no one can then steal those numbers! It also protects your sensitive financial information every time you shop online. Paypal’s Virtual Debit Card pre-populates your information in shipping in billing forms at checkout. More features:
- Protects you from fake eBay and PayPal websites
- Offers zero liability on unauthorized purchases made from your account
- It’s free
When making an online purchase a notifier appears asking if you’d like to pay with PayPal Virtual Debit Card. You can click on the notifier to use PayPal Virtual Debit Card or there are other icons you can click to access their service. Each time you make a purchase on a website, a new number is generated, so their is no unique account number that is attached to you and your financial information. To start, you just link it up to your bank account.
Once this is out of beta this will be huge for Paypal and Mastercard, becausethere is growing concern about ID theft and online secure payment and this will go a long way to alieving many fears.