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A new tool enables consumers to shop online without providing personal or card information to merchants, addressing many consumers' concerns about the security of online transactions. Shop Shield, launched this week, provides shoppers "virtual" Visa card numbers to use instead of their permanent payment card numbers, according to Kemesa LLC, the Aventura, Fla.-based company pitching the service to consumers and financial institutions. Consumers can choose one-time-use numbers for single purchases or reusable account numbers for merchants they pay frequently. Consumers also may initiate virtual travel-reservation account numbers issued with travelers' real names attached to the transaction. Nearly all online merchants and bill-pay sites that accept Visa, MasterCard, Discover and American Express credit cards can accept Shop Shield's replacement virtual Visa card data, according to Kemesa. Except for travel reservations, Shop Shield provides merchants with replacement data for shoppers' names, addresses, phone numbers, e-mail addresses and other personal information. Kemesa encrypts the customer data, divides it into fragments of information and stores those fragments on independent networks, which it monitors for security, the company says. Merchants accepting Shop Shield transactions pay the same interchange fees they would pay for accepting Visa credit cards. For unlimited use, consumers pay a subscription fee of $9.99 per month or $99 per year. Or consumers can use Shop Shield for free if they link it to their checking accounts for automated clearinghouse debits, for $1.99 per transaction when linked to a major credit or debit card, and for 49 cents per transaction less than $25 that is tied to a major credit or debit card.
