PayPal To Offer Virtual Credit Card Payment Product

[id62000]

Paypal will launch a new virtual credit card payment product Tuesday.



The new service “PayPal Secure Card” generates a one use unique Mastercard number that Paypal users can utilize to make payments on sites that don’t take Paypal. According to Reuters, the software package with PayPal Secure Card automatically recognizes an e-commerce checkout page and fills out the payment information for the user.

The move is said to be in response to Google’s Checkout service (launched June 06) that also stores financial details for secure online payments.

It’s a great idea; not only does this open up Paypal accounts to shopping on sites that don’t take Paypal, it also provides credit card access to folks who don’t have a credit card (or similar credit style debit card), either by choice or because they are unable to obtain one. On the security front it also provides an alternative to using your actual credit card online, a secure way of using your credit card (if linked to your Paypal account) without the risk of your real details being disclosed.

[buaya]

Originally Posted by digitalsjob

I don't understand how to use Google Checkout and what actually google checkout do? Could one of you explain to me just a briefing of google checkout?

Originally Posted by animecrunchy

Wow another good service from paypal. i think they want to compete with Google Checkout with this service. So we can use everywhere now.

Before you all get happy, it is only meant for user residing in the united states. Other countries are not supported

About google checkout, it is an online payment processor that allows users to store their credit or debit card and shipping information in their Google Account, so that they can purchase at participating stores at the click of a button .But unlike Paypal, Google Checkout does not require the purchaser to create an account, does not permit the use of stored funds nor allows payments from person to person.

[zapper]

Hey!.. this is really a very good move!. Atleast now, PayPal has realized that it`s important to protect it`s clients from switching to other e-currencies. But, sad for international mebers as it`s only valid for the US citizens.

And, Buaya, Google Checkout cannot be termed as a "Payment Processor", since it doesn`t allow transfer of funds from one person to another...

[alec11]

and about virtual CC from paypal, i think that is a great move by paypal, because if we do online shopping with that virtual CC in scam site, maybe paypal can cancel that transaction.
so, we can be more safe and secure while doing online shopping.

[nuaeman]

Originally Posted by zapper

Hey!.. this is really a very good move!. Atleast now, PayPal has realized that it`s important to protect it`s clients from switching to other e-currencies. But, sad for international mebers as it`s only valid for the US citizens.

And, Buaya, Google Checkout cannot be termed as a "Payment Processor", since it doesn`t allow transfer of funds from one person to another...

I believe it won't be long since they wish to counter google checkout but still I'm worried they just open for specific countries only while others would have to wait a long time.

Google Checkout is considered a "payment processor" where it is defined as a company that attends to the actual processing of a credit card transaction, to be distinguished from the merchant account bank, which merely acts as the recipient of the transaction, proceeds. - ecxweb.

[indieover]

Originally Posted by nuaeman

I believe it won't be long since they wish to counter google checkout but still I'm worried they just open for specific countries only while others would have to wait a long time.

Google Checkout is considered a "payment processor" where it is defined as a company that attends to the actual processing of a credit card transaction, to be distinguished from the merchant account bank, which merely acts as the recipient of the transaction, proceeds. - ecxweb.

so now we can only use to make purchase. it is like we just dont' have to give the information of our credit card or debit card to the stores. but we will have to put those information in Google checkout. and google will be the one going to pay using our account without giving our account numbers.

works like paypal but in only that manner. besides it has nothing else familiar with paypal

[star123]

Well this is a great features for us who are webmaster and have some problems with hosting wesbite and SEO service when they don't accept PayPal funds for payments. I will surly use it and will give a feedback here so we can know more about PayPal features. I have seen few changes in PayPal too in sent option for Business account.