OREANDA-NEWS. September 27, 2012. Bank of China launched virtual card services for customers of Great Wall Globe-in-One Platinum credit cards, and cardholders may subscribe to the virtual cards by dialing Bank of China’s hotline for Platinum Card holders at 40066-95569. In the future, virtual cards will gradually take over the entire credit-card product lines, and cardholders may efficiently and conveniently customize their personal virtual-card services at the mobiles Apps of Bank of China credit cards, the Points 365 website of the Bank, online banking, mobile banking and other channels, reported the press-centre of BOC. 

The virtual card is a little virtual card created in an existing credit-card account and is affiliated to the physical card. Online and other non-face-to-face trading operations through this card are mainly completed with such information as the card number and expiration date. As virtual-card transactions are all credited to the main account of the physical card, the cardholder does not need to repay separately.

Nowadays people's consumption via online shopping becomes increasingly common. As a result, corresponding problems of payment security emerge frequently. As an innovative payment service that can effectively reduce online payment risk and manage online consumption, the virtual card will develop into an important auxiliary tool for online payment in the future. To avoid the circumstance that the credit card information is stolen in the transaction process which might result in personal financial loss, the cardholder may set a payment limit when opening the virtual card, so as to lock in transaction risk within a certain time and amount. The client can also dynamically adjust and actively manage the limit at any time, which helps effectively avoid the risk of leaking account information of the physical card during online shopping.

Currently, the virtual cards of Bank of China credit card products support the UnionPay, MasterCard, VISA and other card networks. The virtual card does not limit the number of cards applied for or charge any additional fee. Cardholders may, based on their own risk tolerance, set the limit for single or cumulative transactions as well as the validity for each virtual card, so as to put the risk of online payment under control within a certain time and amount. Cardholders may also set different virtual cards for various transactions in line with their shopping habits, so as to realize active management of online consumption by reasonable planning and rational spending.
This year, Bank of China put forward the development strategy of building a "Smart BOC", striving to create the best customer experience.

The virtual card services launched this time are the first series of the innovative products on this strategic platform. In the future, Bank of China will rely on the "Smart BOC” platform, continue to strengthen payment innovation, combine the development trends of Internet payment and mobile payment to continuously expand the services of queries and the scope of availability for virtual cards loaded on such channels as Internet terminals, mobile terminals and e-commerce platforms, so as to provide customers with more secure consumption experience.