You don’t need to manage your credit cards. The only reason why you need to is because the credit card companies have developed a flawed system that makes transactions very easy without any security. But they designed it this way so that payments are frictionless.
If this is the system they want, they should deal with the consequences. The burden of fraud, etc should rest on their shoulders, and it currently does. The more burden they put on our shoulders, the less it is for them. It’s like boiling a frog. When they implement PIN numbers, then they will be able to completely put the burden of liability on our shoulders. They want the convenience of quick payments with none of the liabilities.
What you’re talking about is presumably hundreds of virtual credit card numbers being distributed, which is even more of a burden for us. And then figuring out which number to cancel etc.
Credit card companies currently have a lot of incentive to catch fraud early because if you need to cancel a card, you will switch it to another card from another company, presumably.
> They want the convenience of quick payments with none of the liabilities.
All payment systems are moving in that direction: PayPal, any RTP like PayTM, cryptocurrencies, etc. You (the consumer) control the account and the transactions are easy to make. If you want to revert a transaction, you have to prove that you lost control of the account in a way that is not your fault. And even then you may not have a recourse other than going through the legal system.
Merchants eat the majority of fraud costs not the credit card companies. It is up to them verify billing address and whether to allow a shipment to another address. Only time credit card company will eat the fraud is on a stolen credit card that is used in a chip based payment. Card not present is still on the merchant.
If this is the system they want, they should deal with the consequences. The burden of fraud, etc should rest on their shoulders, and it currently does. The more burden they put on our shoulders, the less it is for them. It’s like boiling a frog. When they implement PIN numbers, then they will be able to completely put the burden of liability on our shoulders. They want the convenience of quick payments with none of the liabilities.
What you’re talking about is presumably hundreds of virtual credit card numbers being distributed, which is even more of a burden for us. And then figuring out which number to cancel etc.
Credit card companies currently have a lot of incentive to catch fraud early because if you need to cancel a card, you will switch it to another card from another company, presumably.
Let them handle it.