Ecommerce Risk Reduced to Zero with PayPal Virtual Credit Card
Hundreds of millions of shoppers using their paypal account to ensure security on their ebay purchases can now use their paypal accounts for all purchases. With the new debit card number associated ot their paypal accounts, shoppers can use this new "paypal credit card" to shop safely on all retailers accepting credit cards.
Paypal accounts are designed with online fraud protection, since they can only be used online. Paypal guarantees fraud protection and polices its account transaction proactively. Online security is heightened by technical encryption and authentication technologies, over and above the standard secure transaction page.
Paypal's new innitiative to improve consumer confidence online should have higher impact in countries where confidence is still low. The value is limited in the UK and US where credit card companies and major banks have dedicated online fraud units, and confidence is high.