Pre-Pay Credit Cards Coming To A Store Near You

The launch of a ‘major innovation in the credit card industry’ has taken place in Ireland and is soon to become a permanent feature in the UK and other European countries. The disposable credit card, the first of its kind in the world, has been unveiled by Permanent TSB.

Other partners along with Permanent TSB who were involved in the making of the credit card voucher are 3V Transaction Services Ltd, who owns the patents for the product. Alphyra, the major shareholder of the company 3V Transaction Services Ltd developed the software and is the leader of electronic transactions in Europe and the major credit card company Visa. All of these companies together have made it possible for this new innovation to come to fruition in Ireland and now hopefully see it become available across the UK and Europe in the months ahead. Some of the European countries that will see the launch of the voucher in the next 12 to 18 months will be Germany, France, Holland, Spain, Italy, Greece, Poland, Romania, Czech Republic, Austria and Sweden.

The 3V voucher, which will be its branded name, is designed for use over the phone or internet when purchasing items or services and will be aimed at people who do not have access to a credit card and existing credit card customers who are anxious about internet security using their credit card details over the internet in fear of being a victim of fraud. With limited credit on the voucher and a different number every time you purchase credit the chances of identity fraud and fraudulent credit card transactions will be reduced dramatically.

The way in which the 3V Voucher works is similar to the way in which pre pay mobile phone credit works.

The customer will be able to register with the company and go into any shop to pre purchase their credit. When a customer purchases credit from the shop they will be given a receipt with its own Visa number on it which then can be used to purchase products or services over the phone or internet. The number can be used several times until the credit has been used. The maximum amount of credit that you can obtain on the 3V Voucher is 350 euros and the minimum amount you can obtain is 20 euros, hopefully it won’t be long before we see it in pounds.