PayPal is scheduled to launch a new virtual credit card payment product, Secure Card. PayPal has partnered MasterCard to make this possible.
How it works
SecureCard is a browser plugin. It will recognize any instance a user visits an e-commerce site. The plugin then automatically fills in their stored financial information. The user need only to click the browser’s PayPal button to generate a unique Secure Card transaction number.
The good news is that Secure Card will not only be available to US PayPal users. It will also be available to international users soon (Will the Philippines be included?).
I believe this move would create a lot more users for PayPal. I hope Visa gets on with the action for those Visa users. It will be so much easier and secure to transact with websites that do not accept Paypal.
My Questions:
- What would the transaction fees be?
- How secure is this browser plugin?
How we do online transactions has evolved tremendously during the past years. Paypal’s new SecureCard will make a huge impact on online ecommerce as this new development opens up businesses to a new market.
I look forward to more of developments like these from Google Checkout and the others in the future.
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