Bank of America will discontinue ShopSafe – its virtual card number service for online shopping – this month.
With data security at the forefront of cardholders’ minds – especially in light of recent data breaches – this change can be a big drawback for Bank of America customers. Virtual card numbers provide an extra layer of security when shopping online, reducing the potential impact if your data is stolen.
In the email sent out to customers, Bank of America cited changing technology as a reason for the discontinuation. As more comprehensive fraud alerts, digital wallets and other secure payment solutions become more commonplace, the need for virtual card numbers is diminished.
Nevertheless, the shift can be a negative one for customers worried about their data. If you want to protect your card number while shopping online, be sure to employ an alternative solution – such as using a digital wallet to pay – in order to keep your card number secure.
Virtual card numbers from other issuers
With Eno® from Capital One, cardholders can instantly generate a virtual number when shopping online. Plus, the service carefully monitors your charges and alerts you to potential fraud.
Similarly, Citi cardholders who enroll in virtual account numbers can receive a randomly generated number for use in online and mail order shopping. Unfortunately, Citi’s benefit is not available to all cardholders, so you should check your card’s benefits before you enroll.