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PayPal Launches Virtual Debit Card
Posted by
ScuttleMonkey
on Wed Dec 27, 2006 01:47 PM
from the good-idea-bad-testbed dept.
from the good-idea-bad-testbed dept.
IpSo_ writes "You can now use PayPal via a Virtual Debit Card when making online purchases anywhere MasterCard is accepted. Basically it generates a virtual card number each time you make a transaction online so you don't have to use your personal debit or credit card number. Will people be more comfortable making online purchases with this, or will it flop because its too much of an inconvenience?"
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Your Rights Online: Paypal Agrees to Consumer Protections 136 comments
davidwr writes "Paypal settled a suit with Maryland and 27 states. Among other things, they'll conspicuously advertise a contact phone number and staff it 14 hours a day and be much more forthcoming about when they will debit your bank account. For those of you who think Paypal Sucks, well, starting soon it sucks just a little less."
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PayPal Launches Virtual Debit Card
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Citibank has had this for years (Score:4, Interesting)
Re:Citibank has had this for years (Score:5, Interesting)
No kidding. (Score:5, Insightful)
Wait a minute. Oh-ho-ho! Nice try, Paypal! You almost got me there. Whew!
Re:Citibank has had this for years (Score:4, Interesting)
And Paypal said after using up 16 virtual Citi numbers:
YOUR ACCOUNT HAS BEEN LIMITED
- the reference number given in the reason did not reveal a case
- emails to support did not solve the issue
- talking to support (yes, it is possible at times) did not solve the issue
Another account needed to be created to use PayPal for business purpose
After filling out a ridiculouly long survey-like questionaire for this case and mentioning that they would have heard from my attorney would there be any funds on the account, it came to their attention that there may be something wrong and - yes you can now use an unlimited number of credit card numbers...
No, thank you very much, Pay Pal!
Discover have been generating numbers for years... (Score:5, Informative)
there's the stanadlone App, or the web-based version - the numbers are one-time use, and can be used anywhere - on or off the net.
why is the rest of the world not keeping up?
Re:Discover have been generating numbers for years (Score:5, Interesting)
(http://www.lazylightning.org/)
Because I have very little use for one of these? My credit card already protects me from fraudulent charges and I'm not worried in the least if someone uses it two states away for gas. If Chase makes me call them when I'm going outside of my "home area" so they don't shut me off, then I'm not concerned if someone steals the card number after I make a purchase online at Newegg.
If someone uses the card locally, big deal. I call Chase and tell them that the card was stolen and the charge wasn't mine. Not many questions asked.
For *most* people, they just aren't paranoid enough to use a one time number for their purchases.
Re:Discover have been generating numbers for years (Score:5, Insightful)
(http://www.lazylightning.org/)
You should *never* use a debit card *anywhere*. Why you might ask? "But they are so popular! Everyone is doing it!"
Just wait until a drunken bartender, rushed register clerk, or malicious waitress adds an extra digit to your transaction and you're suddenly bouncing checks or being charged fees for your overdraft protection.
This is a GREAT idea. (Score:5, Insightful)
(http://androidethic.com/)
2.) Online Buying Clarity: You'll be able to view all charges you make on the internet individually and not have it mixed in with your regular credit card bill.
1.) Privacy: You can use a Credit Card online with it it showing up on your Credit Card Bill. It will be BIG in the online porn world.
Re:This is a GREAT idea. (Score:5, Funny)
(http://www.mitwebcam.com/)
Re:This is a GREAT idea. (Score:4, Informative)
(http://www.shaunc.com/)
This is a new idea? (Score:2)
(http://www.mitwebcam.com/)
Doesn't every other major credit card bank do this already? I know my AMEX, Discover and Citibank cards already let you go online and generate a one-time-use number. It's handy not only for security purposes, but in case I don't have my wallet with me and need to buy something online. I just have to log into the website and can immediately get a usable number for the purchase.
"Article" is a pop-up window (Score:4, Informative)
The link goes to the contents of a pop-up window displaying a FAQ that's intended for the BETA USERS of this service.
"Launched" isn't the word that should be used for the current state.
It's been around for years (Score:3, Interesting)
Credit Card companies have had this for years. (Score:1)
Paypal: We Suck Harder (Score:5, Insightful)
Any time someone claims "the security is very real", the bogometer enters the red.
> I missed the demo when I downloaded the PayPal Virtual Debit Card. How can I see it again?
"Downloaded"? You mean this is an application? Bogometer pegged. Spyware sensor into the red.
> How do I use PayPal Virtual Debit Card?
>
> When you are ready to make a purchase on a website that accepts MasterCard, a notifier appears asking if you'd like to pay with PayPal Virtual Debit Card. You can click on the notifier to use PayPal Virtual Debit Card, and you can also always access PayPal Virtual Debit Card from the icons located on your browser's toolbar and system task tray.
Ah, it's not just a separate application, it's an (IE-only, presumably) Browser Helper Object and/or background service. Not only is the bogometer needle is bent, but the spyware sensor is on fire, and I'm reaching for my wallet, where my small fistful of weathered Federal Reserve Notes is looking mighty comfortable right about now.
Even by PayPal's standards, this is looking like a galactic-central-black-hole-through-buckytubes pile of suck.
It'll flop, but for different reasons (Score:3, Insightful)
(http://www.tenthousandpercent.com/ | Last Journal: Sunday September 09, @10:15AM)
It'll flop because paypal is the worst 'bank' to have to deal with. They have poor customer service, the fees are outrageous, phishing is out of control, and the Bank of America already has something like this.
Ever get accused of not delivering something on E-Bay? It works out pretty well because paypal will just automatically steal the money out of your account, or send debt collection on your ass if you don't have the balance.
This all happens before they even talk to you. This is why I use neither E-bay nor paypal.
accountability (Score:5, Insightful)
(http://www.halley.cc/ed/)
How about asking, "Will it finally force PayPal to follow US Federal Law regarding financial institutions, or will it continue to act as with capricious disregard for facts and evidence when there's a payment dispute?"
Does it work with Allofmp3.com? (Score:1)
(http://www.jaymzworld.com/)
Old news (Score:1)
(http://www.jesnetplus.com/ | Last Journal: Wednesday December 27 2006, @11:31PM)
That list includes PayPal: back before eBay bought PayPal (at least four years ago), PayPal had a directory of shops. They had a feature where, if you added a credit card to your account, it'd let you browse the web with a frame at the top of the window (IIRC) with a virtual Visa/MasterCard number which you could use to buy things.
new paying systems (Score:1)
(http://dheera.net/)
what's wrong with the bank's debit card (if you want it) and a credit card of your choice?
Well... this sucks. (Score:5, Insightful)
(Last Journal: Tuesday September 12 2006, @03:31PM)
From their QA about the virtual debit card [paypal.com]:
Need I say more?
stop beeing so US centric (Score:2)
(http://patsplanet.com/)
Liability? (Score:2, Informative)
Hasn't Paypal done this for years? (Score:2)
(Last Journal: Sunday August 19 2001, @02:21PM)
I seem to also remember there being issues with lots of places not taking these cards due to extreme fraud.
-Cliff
If you ever contacted PayPal you know the answer (Score:2, Informative)
I will never use PayPal for anything other than cheap crap (less than $100) I buy occasionally on ebay.
Dear A.C.,
Due to an increase in seasonal email volumes, we may not have been able to
answer your email.
If your inquiry has not been resolved or you have further questions
regarding your PayPal account please call 1-402-938-3531.
Thank you for choosing PayPal!
Similar to a OTP (Score:3, Interesting)
(Last Journal: Monday October 09 2006, @07:35PM)
Has it's uses (Score:1)
If this works here in Germany I'll be mighty happy. I do not have a credit card, since a debit card works better here.
There are some things I might occasionally need a credit card for (mostly Pearson exams). My Dad won't let me uses his so a one-time card would be just the thing.
Paypal itself is virtual (Score:4, Insightful)
Paypal is not a savings and loan.
Paypal is not a retail store.
Paypal is not an insurance company.
Paypal is not a manufacturing company
Paypal is not an exchange of any kind.
Paypal is not a foundation committed to a cause.
What argument could then persuade me to trust them with money that is most certainly NOT virtual?
I'm not someone with a cross to bear. Paypal has never screwed me over, and the idea of paypal is very appealing. However, the practices of Paypal have been and are egregious for very little benefit to the average consumer. Even as a small business owner, the appeal of Paypal as it currently operates is scant.
Just mod me as flamebait, I guess. In the immortal words of Tom Hanks in Big, I don't get it!
Oh it'll flop alright. (Score:1, Redundant)
You could always do that with PayPal (Score:3, Insightful)
(http://www.zansstuff.com/)
This feature has been around for years and years.
Old news? (Score:2)
Boo! Citibank has been doing this for years! (Score:1)
This is just a copy cat of Citibanks long-standing program of temporary numbers.... and that systems works well.
YAWN.
Old Fart Alert (Score:1)
(http://j-walk.com/other/ossw/)
Good idea....but (Score:1)
The throw away credit card number (Score:3, Interesting)
I used to have an actual credit card that had this feature (MBNA bank if anyone is interested, highly recomended.)
They had it where you could use the app on the webpage, or download what appeared to be a flash standalone app that did the same thing.
It would generate a credit card #, exp date (of your choosing, min 1 month in advance rounded to the end of that month) and the 3 digit code. You could also set a limit on that card.
Once it was charged to by someone, the number was locked to that vendor, and only they could make future charges to it.
You can also go in and shut it off at any time prior to the expiration.
The idea is, in the automated way a charge is made to the card, and even if it is stored, stolen, or sniffed along the way, anyone ELSE trying to use that number after the automated charge would get denied.
Also the store itself would get denied if it tried to charge over the limit, or past the expiration or when you disabled the number.
It was a feature I used quite alot.
The only downside here is the fact its PayPal and not a real bank. So kudos for them adding a good feature, but booo for them still being paypal and all the downsides that entails.
e-cards has been around for a couple of years. (Score:1)
PayPal has done this before (Score:1)
Virtual debts too? (Score:1)
Paypal? (Score:2)
(Last Journal: Wednesday November 06 2002, @05:15PM)
Oh my. That's the first thing that's ever gone wrong. Hm, how about that?
(end hackneys Simpsons reference)
I'd love to yell and scream about this more, but unfortunately (and unfathomably), Paypal has wide market acceptance. Sure, BidPay is making inroads, but the sad point is that Paypal has become commonplace... so this will take off, and another round of unwitting saps will be rudely reminded that Paypal isn't really a bank, and they can do whatever the fudge they want.
Why hasn't there been a class-action suit yet?
pointless (Score:1)
eBay and PayPal (Score:4, Insightful)
(http://www.zembek.net/)
Yes, new....very new. (Score:2)
My credit card company, Citibank, also offers the same thing.
How is this new? Or interesting?
Paypal makes Russian Mafia look legit (Score:1)
Not a bank! (Score:2)
(http://www.mithral.com/~beberg/)
They do a great deal of business catering to criminals, er customers that cannot get a credit card or a merchant account. Considering the criteria for both are trivial, that's saying a lot.
This isn't new (Score:2)
(http://www.dienaked.com/)
I'm not sure what's different now.
btdt (Score:1)
Why Would Anyone CHOOSE To Use Them?! (Score:2, Interesting)
Putting ridiculous fees, poor customer service, and numerous loop holes aside - I just don't trust them! From my experience, you are never actually 'covered' as they keep telling us, and when you do get bitten by a scammer - you may as well just bang your head against a brick wall instead of trying to get your money back from them!
I for one, would never CHOOSE to use them. They are another one of these big corporations who just don't care about the little people, but expect everyone to log on and happily give over all their credit card details.... and then charge them for the privilege.
http://www.paypalsucks.com/ [paypalsucks.com] anyone?
Without ebay, Paypal would come tumbling down in seconds. No wonder ebay are making excuses to block google payments and alike!
morehawes
Old news in Portugal (Score:2)
Different Solution (Score:1)
They don't allow gun purchases (Score:2)
Finally (Score:2)
(http://slashdot.org/)
I love the idea of putting money on a debit card, that can be used as a credit card. Hopefully this paypal offering will offer Mastercard-like (and not paypal-like) handling of problems and concerns, and also be available in Canada.
Re:Real or Virtual (Score:2)
(http://www.zansstuff.com/)
Re:Old service in France... (Score:1)
(http://slashdot.org/)
But hey, that's probably not it. It's probably the France thing...