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Information Technology News PayPal trials Virtual Debit Card to fight off Google
Information Technology News PayPal trials Virtual Debit Card to fight off Google | PayPal trials Virtual Debit Card to fight off Google |
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| by Adam Turner | |
| Friday, 29 December 2006 | |
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When PayPal users are ready to make a purchase on a website that accepts MasterCard, a pop-up asks if they'd like to pay with PayPal Virtual Debit Card. Clicking the pop-up generates a pre-populated payment form. The service generates a new card number for each transaction, along with a card verification number - the three-digit number usually found on the back of physical cards. Funds are deducted from users’ PayPal accounts. The move comes as internet behemoth Google makes inroads into PayPal's territory with its Google Checkout service. Launched mid-year, Google Checkout allows users to store their credit card and shipping details in their Google Account, so they don't have to enter their details when shopping at participating sites. The service is currently only available to US businesses, with Google waiving merchants' fees until the end of the year. PayPal's owner eBay responded to Google Checkout's launch in June by adding the Google service to eBay's banned payment methods list. The month before, PayPal had signed a deal to allowing Yahoo customers to pay for services using PayPal.{moscomment}
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