Credit cards facilitate online payments, especially if you want to deal with overseas companies. But with data leaks, credit card information may be stolen resulting in transactions being made without your knowledge. To reduce the risk to their customers, Alliance Bank today launched the Alliance Bank Visa Virtual Credit Card service which is a virtual credit card.
The Alliance Bank Visa Virtual Credit Card is unique because it uses a different 16-digit number for each transaction. The customer's real credit card number will not be exposed if the e-commerce site used has been hacked. Customers can generate different virtual credit cards for different transactions and services. Each card number can also only be used within 30 minutes after being generated in the Alliance Bank application.
Customers can manage their virtual credit cards directly from within the app. They can control the amount of spending, limit the value of each transaction and freeze it quickly if there are any suspicious transactions.
Tags
BUSINESS & MONEY