[BusinessTeam] temporary credit card numbers

Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F6327822BD@exchange01.lab49.com> · Fri Oct 20 14:08:45 2000 UTC

The Throwaway Credit Card

MBNA, the largest independent Visa and MasterCard issuer, says its service
offers a more secure way to shop online.

 <mailto:rabramson@thestandard.com> By Ronna Abramson

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American
<http://www.thestandard.net/companies/display/0,2063,10085,00.html>
Express Company (AXP
<http://www.thestandard.net/article/stock/1,2107,,FF.html?sym1=AXP> )
MBNA  <http://www.thestandard.net/companies/display/0,2063,12449,00.html>
Corporation (KRB
<http://www.thestandard.net/article/stock/1,2107,,FF.html?sym1=KRB> )

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<http://chart.neural.com/servlet/WatchList?field=SCGactivity=QTE&symbol=AX
P,KRB&column=istandard_columns&width=150&rowheight=15&ahr=2&cup=009933&Ign
ore=161836&mode=1&border=0&gline=0&crow1=CCCCCC&crow2=ffffff&cfcol1=CCCCCC
&cfcol2=ffffff&Ignore=161836>

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AmEx  <http://www.thestandard.net/article/display/0,1151,18373,00.html> to
Make Online Porn Purchases Safer

AmEx  <http://www.thestandard.net/article/display/0,1151,18347,00.html> -
Don't Surf the Web Without It

And  <http://www.thestandard.net/article/display/0,1151,18346,00.html> You
Thought You Had Credit Card Trouble 

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MVP.com  <http://www.thestandard.net/article/display/0,1151,19536,00.html>
May Be in a Slump
(October 19, 2000)

Smoke  <http://www.thestandard.net/article/display/0,1151,19539,00.html>
Signals: What's Next for Net Cigarette Sales?
(October 19, 2000)

Fuel  <http://www.thestandard.net/article/display/0,1151,19474,00.html>
Economy
(October 19, 2000)

The  <http://www.thestandard.net/article/display/0,1151,19505,00.html>
Throwaway Credit Card
(October 18, 2000)

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The
<http://www.thestandard.net/research/store/report_display/0,1202,1717,00.h
tml> Optimal Interactive Device: Cell Phone or PDA?

Television:
<http://www.thestandard.net/research/store/report_display/0,1202,1719,00.h
tml> Interactivity and Beyond

Online
<http://www.thestandard.net/research/store/report_display/0,1202,1709,00.h
tml> Travel Sites

Booking
<http://www.thestandard.net/research/store/report_display/0,1202,1706,00.h
tml> Travel Online

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Email to a Friend
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Print Article
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 <mailto:tips@thestandard.com> Got a Scoop? Tip us off

Following American
<http://www.thestandard.net/companies/display/0,2063,10085,00.html>
Express (AXP
<http://www.thestandard.net/article/stock/1,2107,,FF.html?sym1=AXP> ) 's
launch of a similar product last month, MBNA
<http://www.thestandard.net/companies/display/0,2063,12449,00.html>  (KRB
<http://www.thestandard.net/article/stock/1,2107,,FF.html?sym1=KRB> ) ,
the world's largest independent credit card issuer, announced plans
Wednesday to give consumers a more secure way of shopping online, with a
disposable credit card number.

MBNA will use technology created by New York-based Orbiscom to allow its
45 million Visa and MasterCard customers to buy goods on the Net without
ever disclosing their personal credit card number. MBNA cardholders will
be able to download Orbiscom's O-power application from the bank's Web
site to use a unique card number for each transaction and set a dollar
limit on that transaction.

MBNA, based in Wilmington, Del., will be the first U.S. bank to offer such
a service, expected to debut next month, just in time for the busy holiday
shopping season. American Express began offering its cardholders
disposable credit card numbers online, using in-house technology, at the
end of the month. But the AmEx service does not give cardholders the
ability to set a price limit on purchases.

MBNA will initially offer the service to only its U.S. customers, later
expanding it to Canada and the U.K. Orbiscom's technology already has been
adopted earlier this year by HFC Bank in the U.K. and AIB Bank in Ireland,
which beta-tested the technology. A competitor, New York-based Cyota, has
announced an agreement to offer disposable credit card numbers in Israel
by January to the more than 1 million customers of Isracard, a credit card
issuer owned by the country's largest bank.

Such disposable credit card systems protect customers when numbers are
stolen online, as they have been recently in high profile cases involving
such companies as Western Union. "If it was one of these numbers it'd be
absolutely useless because they've already been transacted," says Orbiscom
COO Ray Sheridan. "It would be kind of like getting a check that's already
been cashed."

MBNA research has found that security is a big concern and often an
obstacle when cardholders shop on the Internet, says company spokesman
Steve Boyden. From January through July, 5.5 million of MBNA's 45 million
cardholders purchased $2.4 billion of goods online.

Luke Flemmer
VP Strategic Ventures
nano
phone: (212) 402-7870
fax:      (212) 430-6374
www.nano.com <http://www.nano.com/>