PayPal Pilots Virtual Debit Card

January 04, 2007, 6:26 p.m. EST 1 Min Read

PALO ALTO, Calif. – Online payments provider PayPal said it is pilot-testing a virtual debit card, in partnership with MasterCard. The system will generate a MasterCard number and one-time card verification code that are linked to PayPal accounts and used when paying for online purchases, instead of a consumer’s own credit or debit card. The virtual debit card will generate a unique number for each new purchase. The new service will replace PayPal’s existing virtual Debit Bar system, which uses a static MasterCard number for online purchases that don’t accept PayPal directly. PayPal is a unit of online auctioneer eBay.

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