"Offered to holders of Citi, Discover and MBNA cards, these 'virtual credit cards,' or single-use card numbers, are designed to give some peace of mind to consumers concerned about credit card fraud. Although the system slightly differs on each card, the principle is the same: For no extra charge, consumers sign up at the credit card's Web site, often downloading software on their computers. Then, when they're ready to shop, they receive a randomly generated substitute 16-digit number that they can use at the online store. The number can be used once or, in some cases, repeatedly at the same store."The Social Security Administration should follow this example--allow people to get one-shot SSN's that work only for a relationship with a given organization. [ed--isn't this your hobby horse for doing away with SSN's? Yes}
Sunday, October 02, 2005
Washington Post yesterday had an article on "virtual credit card" numbers as an antidote to credit card theft.