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Bank of America discontinuing ShopSafe® virtual card number service

Cardholders will no longer be able to generate virtual card numbers for online shopping

Summary

Bank of America will discontinue ShopSafe – its virtual card number service for online shopping – this month.

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Bank of America has announced via email that it will be discontinuing its ShopSafe virtual card number service on Sept. 20, 2019, according to a report by Doctor of Credit. After this date, cardholders will no longer be able to generate virtual credit card numbers for online shopping. Additionally, any saved virtual numbers will be void.

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.

See related: Virtual account numbers grow as a way to cut fraud risk

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

Luckily, other major credit card issuers still offer virtual card numbers. Both Citi and Capital One offer services.

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.

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Published: September 5, 2019

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