Power Sellers Unite

psunite · Joined: 27 Jan 2005 Posts: 6213 Location: Columbus OH

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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HowardH · Joined: 26 Jan 2006 Posts: 159

I read about some credit card providers having a similar service a couple of years ago, so it's not a new idea. I'm sort-of surprised it hasn't caught on & taken the world by storm.

goodstuff4you

I have actually been watching to see how long it would take Paypal to catch on to that feature. Some of my friends and family members have been using that feature for years including using the virtual numbers to make payments to Paypal for items purchased from ebay sellers as well as all other telephone and online sales items.

The credit card company one of my brothers uses lets you choose virtually every limitation you wish for a # issued, one time use, multiple uses at same or different site, timeframe (as in 1day or 1month etc), up to a set dollar amount, etc ,etc, etc.

That reminds me I need to get that card issuers info from my bro.