Sunday, February 20, 2005

"Disposable" Credit Card Numbers Boost Online Sales

Have you heard about the push toward "disposable" or "temporary" credit card numbers?  Some credit-card issuing banks are moving in this direction very quickly to combat the rising tide of fraud and identity theft.  The way the disposable credit card numbers work is this:  when you're ready to make an online purchase you generate a new, temporary, number that is assigned to your real credit card account -- you then preapproved that temporary number for the amount you need for that particular purchase and place the order.

The temporary number is only good for that one purchase and only for the amount you pre-approved. 

This is great news for online business owners since it helps solve one of your biggest problems -- the fear of identity theft and the lack of trust in online transactions.  Look for this trend to continue to grow explosively over the next few years -- after a while, you'll wonder why you ever used to use your real credit card number for ANY purchases whatsoever.


9:22:40 PM  #