Digital wallet firm Oxigen has joined forces with Visa and Zazoo to introduce a new virtual pre-paid card to be used for online transactions.
The virtual card, known as Visa Prepaid, is powered by mobile virtual card (MVC) technology.
The new card replaces plastic card data with a virtual card data, in turn mitigating risk of data compromise through theft, phishing, skimming, or spoofing.
Customers can create one mobile virtual card for their account or a new virtual card for every transaction, which will allow them to carry out transactions on all ecommerce sites and on sites where Visa payments are accepted.
Further, users can transfer the card to friends or family members through the app. No transaction charge is charged for money transfer to the card.