Around the world, there is a tougher struggle between cyber fraudsters and banking organizations. The first are trying every day to come up with new and new tricks to steal personal data, and the second always have to keep their ears sharp in order to actively protect the interests of their clients.
Now financiers are trying to introduce a new protective element to the masses, which has worked well abroad. A virtual credit card is no longer an innovation. In many banks of our country such a tool has been used for many years. It is useful if you often forget your plastic card or could not take it on a long trip. By issuing a virtual card, you get the card number and the same pin code as a regular bank card. When you need to pay in the store, you will be given the same card reader, but you will have to enter the number manually. The process resembles a case in a grocery store, when at the checkout the seller cannot scan a barcode and enters its data into the system manually.
Now a new virtual credit card is being developed, which should protect the personal data of the client and his money in the account. By issuing a virtual card on the new system, you yourself can configure it and set the rules of use and limits. It will act like a regular credit card, but you can set a short period of validity for it, for example, a month. Or set the same period as the main card, but specify the specific places where it can be used.
When you create your virtual credit card, you can use it either through the payment terminal, as described above, or, if available in your bank, through a special application in your smartphone. In this application, you can create the card itself, indicating all necessary conditions and pay for your purchases. Most likely, you will need a fingerprint recognition feature on your device. It is possible that our banks will be able to indicate the bogus data of the payer when creating a new virtual card. Such practice already works in the American systems.
Such an opportunity can make another blow to cash, which people use less and less every year. Many, for example, decide to take a loan or a cash loan precisely because they do not want to disclose their data on subsequent payments. One of the advantages of cash is that, paying them, you do not need to transfer information about yourself. And if you have a virtual credit card on which invented or completely hidden data, then you can not use cash.