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For those who are concerned about give out their credit or debit card number online, Paypal has began testing its new service called Virtual Debit Cards where customers need to download Virtual Debit Card application and use it to generate a virtual debit card every time you shop. PayPal has tied up with Mastercard, so that you could use these virtual debit cards wherever Mastercard is accepted.
Anti-phising or fraud protection system warns customers whenever they land on potentially fraudulent sites. Customers could shop fasted using the Form Fill feature which automatically completes shipping and billing details. Plus, the customers financial information will never be disclosed to anyone.
PayPal Virtual Debit card is still in it Beta, so wait for sometime for it to become available. Right now, you could just take the tour or read their FAQ.
[via Freakitude]
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Anyways, get well soon!...
wrote, on December 26th, 2006
Hmm I think it`s just like Pre-Paid MAsterCards.
Anyway I can’t have a paypal account since my country is not supported
wrote, on December 27th, 2006
I’ve a feeling Mastercard has been dishing out a lot of downmarket cards lately, it seems that they’ve worked out a way to safely profit from lower income groups without sacrificing their image.
wrote, on December 27th, 2006
Thilak:Does adding a debit card to a Paypal account costs?
wrote, on December 27th, 2006
I am a bit wary about using my Credit Card to authenticate my PayPal account. Reason? I have not to date used my Credit Card, and I would like to keep it that way as far as possible.
There seems to be an option to use Debit Card to authenticate the PayPal, but my bank (ICICI India Ltd) seemed to have blocked the facility. And I have been a bit lazy to follow it up. So, I am not sure of it, Thilak.
And coming back to topic, for the reasons stated above, I am not very sure, but it does seem promising. If I could get my Debit Card to validate my PayPal account, this would be a good feature for me to use.
wrote, on December 27th, 2006
I dont think so if they accept a debit card.But it depends may be sa they are same just with adifference of available cash workin.It might also depend on service provider
wrote, on December 28th, 2006
Ashish: They do accept debit cards with visa or mastercard logo on them.
wrote, on December 28th, 2006
Oh thats great Information for me right now i have started using paypal because now i am receiving few bucks every month from some sites.
wrote, on April 26th, 2007
Even the proper debit cards of ICICI bank cannot be used for any online transaction outside India. I tried mine to verify once and then it was declined. So, I called up ICICI and they told me the debit card would work for only Indian websites and not for foreign ones only the credit cards work on foreign ones. It was a shock to me.