What is the concept of VCC?(Virtual Credit Card)

I am not clear with the complete concept of vcc....i just know something...confused
I am also having some other question.....rt now i don't have a credit card.....if i make transitions through Vcc can i get the money deposited in paypal into my bank account?

 

Wrong section , u should have posted this on payment processing section,anyways it all depends on your vcc. if u buy a reloadable vcc u can use it to deposit money through PP into ur Bank.

 

Mainly they're used to verify Paypal, Ebay, or Adwords but there are other uses for them.

 

It is just a payment methord it would be very hard to set your own payment methord up as you would need alot of money and staff to advertise to online shops ect

 

Real pupose of Virtual Credit cards is to stay anonymous. Most of the people don't want to use their real credit cards online due to the high risk and some are curious about their privacy. Such people use virtual credit cards to shop online as you can use them with any name and address.

 

There are actually two kinds of VCC available. Some which are issued by legitimate banks as a one-time use credit card number to prevent fraud and there are those which are issued by some suspicious means for the sake of fooling Paypal and eBay.

The first time, the legal ones are issued by proper banks or financial institutions and they will take the step of verifying your identity and status before offering the VCC to you.

The second time are available here in DP where you just pay a few bucks to some person via e-gold and they give you the VCC number, CVV2 number and expiry date. The rest of the details such as name, address and country, you make them up yourself. So basically everything can be as fake as possible. If you use such a VCC, it will defeats the whole purpose of verification.

You can tell if it is legitimate by seeing if the VCC is issued by a legal financial institution. The bank or financial institution offered VCC will most definitely ask you to submit some kind of identity and maybe a credit card to fund the VCC like what ePassporte is doing. They run more like Debit Card where you can preload some funds.

In the end, you need to know who is the one issuing you the VCC.

 

The concept is to be anonymouse. People look for VCCs for that.

 

I wouldn´t say this: the main reason is to give people a secure feeling when buying stuff online. They don´t have to give out their credit card info to online stores because those shops often get hacked and the credi card info of thousands of people get in the hands of fraudsters. Because VCCs have an preloaded balance only there is not much to loose if this info gets in wrong hands, only the preloaded balance.

Of course VCCs are quite often used to register (often in fake info too) with services, like PayPal or for websites which need a "verification" or offer trial services (so there is no need to worry about fraudulent charges to your card from recurring fees or similar).

So anonymity is a "sideaffect" but not the main purpose.

Kind regards

 

Yes, you are right. I didnt think about this.