Feeds

Disposable credit card attracts 10,000 Irish users

Plastic Paddies

Beginner's guide to SSL certificates

Permanent TSB says that pre-paid credit for its disposable Visa card is now available in over 1,000 shops and petrol stations throughout Ireland.

The disposable Visa cards - dubbed 3V cards - enable people to buy goods and services over the phone and the internet even if they don't have a credit card. Customers buy credit in retail outlets, in the same way that they can buy pre-paid mobile phone credit. The maximum credit which can be purchased on any one 3V voucher is €350 and the minimum is €20.

More than 10,000 people have registered for the service since it was announced at the beginning of September and the Permanent TSB says that around 400 new people sign up for the service every day. The initiative is a collaboration between 3V Transactions Services, electronic payments firm Alphyra, Permanent TSB, and Visa.

Niall O'Grady, Permanent TSB's general manager of marketing, told ElectricNews.Net that some people signed up for the disposable card because they are reluctant to give out their credit card details over the internet. Others signed up because they have been unable to get conventional credit cards. Some people signed up because they preferred to prepay for transactions, rather than incur credit card debt.

Users of the service are not liable to pay the Irish government stamp duty of €40 which is payable on traditional credit cards. Since there are no negative balances, customers will not pay interest to the banks. However, credit card top-ups will cost €5, regardless of the value of the credit purchased.

Each time a customer purchases credit they will receive a printed receipt with a unique Visa number. This number can then be used to purchase items online or over the phone, in one or more transactions, up to the value of the credit purchased. The number can be used from anywhere in the world, when dealing with any merchant who accepts Visa.

O'Grady said that the credit card numbers cannot be used for point-of-sale transactions. He also said that purchases are processed in real-time, which means that consumers will not be able to exceed the amount of credit on a particular disposable credit card.

The service is to be expanded to the UK and 18 other European countries over the coming year.

Copyright © 2005, ENN

Secure remote control for conventional and virtual desktops

More from The Register

next story
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.