Paypal's Virtual Credit Card

Paypal, the world's largest online money processor with over 100,000,000 accounts, has just come out with a beta version of a new technology that promises to be a key feature in broadening most online retailers' profit margin. Its called a Virtual Debit Card and it can be used anywhere Master Card is accepted online.

This is something totally unique because it's not simply a debit card and much more than a prepaid debt card because it is a cheaper alternative to both - IT'S FREE! No monthly bank fees and no "Loading" fees to put money on the card yet it allows you to maintain that high level of security like a prepaid debit card so that nobody can come in and drain your regular bank account. The Virtual Debit Card help prevents you from becoming a victim of identify theft which all of us would appreciate.

With the new Paypal Virtual Debit Card you can you still get all the security and simplicity you expect from Paypal, but with a whole new level of convenience. You have to have a Paypal account of course, but you don't need to have a "real" credit card or a debit card so your credit score has nothing to do with you being accepted or denied this Virtual Credit Card. So if your credit is bad and you can't get a credit card anywhere else you'll still be able to shop as if you do.

This new concept should open up the doors for online merchants to be able to sale to people they otherwise couldn't sale to before. This will allow merchants who've never set-up a Paypal account or never even heard of Paypal to benefit from Paypals over 100 million account holders.

You will need a valid bank account as part of Paypal's normal business set-up and from there you can shop online with your virtual card without ever worrying about being charged multiple times or be hit with any type of hidden fees because the Virtual Master Card is actually a type of disposable credit card in that you use it once and only once per each purchase and then you are given a new virtual card and number.