Virtual credit card

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  1. #1

    Join Date
    Oct 2014
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    Virtual credit card

    Ive just heard of the concept of a virtual credit card, that is linked to a real card or bank account, but has a number with a short expiry. So for online shopping youd use a VCC number that changes every few months to limit the possibility for fraud.

    Has anyone used one? And are there any services available in HK?


  2. #2

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    Virtual cards are usually provided by the card networks (Visa/MC) to very large corporates for procurement purposes. As far as I know, there aren't any available for consumers in HK.


  3. #3

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    HSBC says they have something. My US coworker in Japan has been using it for over a decade for on-line purchases, so US-based credit cards must have been doing it for quite some time.

    https://www.personal.hsbc.com.hk/1/P...lcome_pack.pdf


  4. #4

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    I am sure at some point there was a virtual card number generation feature on one of the consumer cards in HK. Citi or HSBC probably - no clue why I cannot find that info.


  5. #5

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    Quote Originally Posted by shri
    I am sure at some point there was a virtual card number generation feature on one of the consumer cards in HK. Citi or HSBC probably - no clue why I cannot find that info.
    ICBC have for sure what I know in mobile application.

  6. #6

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    Quote Originally Posted by resurection
    ICBC have for sure what I know in mobile application.
    Thanks - found a hint here. But that seems to hint at a "virtual number" for NFC based charges. Not that you can generate a new VISA/MC number on demand for a transaction - which is what the old ICAN card from HSBC did. I cannot find current information on HSBC anymore.

    https://www.icbcasia.com/ICBC/%E6%B5...es/default.htm

  7. #7

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    I believe they are available on Android platforms from Fintechs looking to increase financial inclusion rates and promote ecommerce, where it would not be possible without a bank account.

    As darenguo mentioned above, they are usually used by larger merchants. Virtual cards are huge in the travel booking (flights and hotels) industries. All online travel agents use this.