Consumers who are worried about being hit with fraudulent credit card debt may be interested to learn about a new mobile payment system being shown off by a global card issuer.
CSI GlobalVCard, which issues MasterCard-branded debit and credit accounts, recently unveiled its new virtual credit card payment system at the latest Consumer Electronics Show in Las Vegas, according to a report from InformationWeek. This system allows consumers to create unique account numbers and have digital credit card images bearing those details emailed to them so that they can be displayed to a cashier when completing a transaction.
The security of this platform comes because consumers can customize the credit limits and expiration dates on each new account they create as debt prevention steps, the report said. However, CSI GlobalVCard also acknowledges that there may be some obstacles to adoption, and future versions of the payment system will involve near-field communications technology to make it even more secure as well.
Mobile credit card payments are expected to be adopted on a large scale by consumers within the next few years, but security concerns are currently seen as the biggest obstacle to that goal.