The evolution of technology brings fascinating results. The plain credit card before is now upgraded to virtual credit card with the purpose to evade credit card frauds. The ordinary mobile phones evolved into FM radio, MP3, camera, recording device and GPS. And now, the latest trend is virtual credit card charge to phone bill.
It means that the mobiles phones can have a dual function which is a virtual credit card. The launching of this facility – virtual credit card charge to phone bill – is largely a phenomenon as this kind of system will eliminate the possibility of stolen cards, credit card frauds and simply the absence of the plastic card.
The virtual credit card char phone bill has been already initiated in other parts of the globe. Like in India, it launched the ‘Reliance mPay Credit Card’. The mobile number of the customer will serve as the credit card number once verified by the bank. After verifies, the customer can proceed with the purchase transactions he wish to do.
While in UK, such technology is not yet rampant though such concept interests to the 30 percent of the population of mobile phone holders. The research statistics has quite varied result. There are people who would like to utilize the virtual credit card charge to telephone bill for micropayments only while others prefer to use it for major transactions such purchasing airline tickets and booking for hotel rooms. It is an indicative idea that UK residents are open with such valuable option of payment method.
The virtual credit card charge to phone bill is exponentially growing in countries like Japan and Korea. It in fact launches the handsets turned into ‘mobile wallets’. This system serves multiple purposes in these countries varying from shopping for goods, electronic key, membership card and payment for services such as spa.
In Australia, the Telstra, NAB and Visa are collaborating to launch similar concept. A device will be inserted in the mobile phones. Payment will be made simply by waving the mobile phone to the merchant’s contactless reader. The same policy with credit card will apply in case of stolen mobiles. It should be reported immediately to avoid unauthorized use. The virtual credit card charge to phone bill concept is still scheduled for launch in Australia.
This innovative technology is indeed very beneficial to people specially the travelers, business men and even for housewives and ordinary working people. Credit card is a necessary matter nowadays from shopping in the malls to purchasing online for some items. With this type of purchase, our credit card details are exposed and easily subjected to fraud cases.
The various means of obtaining one’s credit card details are very easy and accessible hence using the virtual credit card charge to phone bill is a very convenient and safety option. Although not yet very dominant technological feature, improvised systems will be launched for sure in the next few months or years.
The virtual credit card charge to phone bill is one of the most useful technological innovation.