One time use credit card numbers for online purchases

One thing I'd like to see is the ability to generate one time use credit card numbers somewhere within the BECU website that are tied to my account - I can use these numbers for only one transaction and then they become invalid.  The number is actually tied to my account, with the charge showing up on my regular becu credit card statement.

 

I'd use these numbers for online retailiers that I don't normally shop at/are a litttle on the shady side, or potentially even for placing orders over the phone with retailers I don't use.  So while I might just give my regular credit card number to Amazon and have them save it, if I really need to buy something from Jimbo's Online Emporium, I might choose to use a one-off credit card number to pay for that purchase.

22 Comments
Explorer

This is a great idea. We have used this "virtual number" feature (called ShopSafe) for our BofA credit card accounts for years. We use them for one time purchases and for monthly payments like Netflix and ongoing purchasing like Amazon, Starbucks, etc. as well as phone orders. Saved our (and the bank's) bacon last year when a French rail ticket booking site got hacked and thet got our virtual number, but it only had $4 of remaining predefined credit  (what was left after we bought the tickets).

Building on the idea based on our experience.

1- virtual numbers can have predefined purchase limits and expiration dates, both of which can be increased as needed. This is how we manage our Netflix and Amazon payment progile.

2- each virtual number is only valid at the vendor who first charges against it (eg., Amazon, Netflix, Newegg, Nordstrom, etc)

Sightseer

I love this idea and would definitely use it!

Tourist

@max wrote:

One thing I'd like to see is the ability to generate one time use credit card numbers somewhere within the BECU website that are tied to my account - I can use these numbers for only one transaction and then they become invalid.  The number is actually tied to my account, with the charge showing up on my regular becu credit card statement.

 

I'd use these numbers for online retailiers that I don't normally shop at/are a litttle on the shady side, or potentially even for placing orders over the phone with retailers I don't use.  So while I might just give my regular credit card number to Amazon and have them save it, if I really need to buy something from Jimbo's Online Emporium, I might choose to use a one-off credit card number to pay for that purchase.


I love this idea. I would definitely use this. I do a lot of shopping on line. 

Sightseer

While this is available through other means I would love it if it could be done through BECU for my BECU cards.  This is the online equivelant of the new security chip since the number is a one time use number and can't then be used or stolen by a website or other.  Often, smaller sites don't have the best security procedures so they may be the best little local shop, but if they or their provider gets compromised it would be great to know that my card numbers were safe.

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Sightseer

I really like this idea. Online security is becoming more and more a concern for me. This seems like it would be a good way to improve security issues.

Trailblazer

This is a great idea and a proven successful model. I have also taken advantage of the Shopsafe feature when I banked with an institution that supported it. Online vendors are not supposed to retain the credit card data you submit, but not all follow best practice. This feature would protect both the consumer and the banking industry. The only one who loses is the bad guys. Thumbs up!

Sightseer

Absolutely in favor of this feature. BECU's Fraud Alert Department is all well and good but when my card is turned off just before I try to purchase my groceries... not good. I, too, do a lot of online shopping and having a one-time use number for a site I've not used before, and don't plan to continue to shop, would bring ease of mind. I also like to option of time limits and preloaded amounts for things such as Netflix, Hulu, etc. I don't like having multiple credit cards and having to remember who I charge on what card for security purposes. All of the suggestions in this thread would be a wonderful feature for the BECU credit card program. 

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Status changed to: Needs Community Support