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Is online shopping really safe?

Stories of high-tech hackers breaking into company databases on the Internet to steal customer information (such as credit card numbers) stop many people from making online purchases. Although these types of problems dont happen often, there is an ever-present fear among consumers that the wrong person may get hold of their credit card number or other private information.

Because of booming e-commerce and the love affair with the Internet, there is much at stake for credit card companies should these problems or fears get out of hand. As you might expect, companies are working quickly with new technology to stop the problems and calm the fears of their customers. Their solution? Disposable or temporary credit card transaction numbers.

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 Private Payments assigns unique random numbers that are linked to a consumers actual card account, but the numbers are only temporary and do not reveal any private information. This temporary credit card number is good for one purchase only, meaning that it does no good for someone to swipe that number because they wont be able to use it after the initial purchase.

For example, each single-use card number is unique to an online store that you visit and will not be valid at any other store. In addition, you may use the same number for recurring charges such as monthly bills that you elect to pay online.

Although disposable credit card numbers are not available with every company yet, do not be surprised if these types of programs are offered by most major credit card companies soon.

Regardless of whether you take advantage of disposable card numbers , you should always protect yourself with safe Internet shopping practices.

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But arent consumers already protected against credit card fraud?

The maximum liability for credit card holders in the case of loss or theft of their credit cards is $50 (many card issuers now even have "zero liability policies" in place). So why are programs such as Private Payments needed if consumers are already protected? The main reason is to alleviate hassle. The business of contacting your credit card company and explaining the situation, filling out the necessary forms and making claims can be cumbersome. It makes more sense to be protected from fraud in the first place rather than after it has taken place. One more reason? To protect merchants who do business online. Because of chargebacks from fraudulent purchases, online fraud costs merchants millions of dollars overall each year.

One more note regarding protection with shopping. Although disposable credit card numbers are safe to use in most cases, companies do recommend that some purchases be made with your actual card number. These occasions include purchases that require the buyer to present their credit card (Not Virtual) in order to receive their purchase, such as the purchase of airline and movie tickets. Continue ...

Try International Virtual Prepaid Credit Card