Continued Success of Cahoot Webcard
Around 63,000 people have used the Cahoot disposable credit card service since its launch nearly 2 years ago
12th August 2003
Online bank Cahoot have revealed that around half of its credit card or current account customers have made use of its 'Webcard' system to buy online. Under the system, the customer's real credit card number is never given out - a fresh number is issued for each transaction, which cannot be used again.
About 100 people a day use the system - or 63,000 since its launch in December 2001 - and Cahoot say that £600k of credit card fraud was prevented in the first 6 months of this year.
Deborah Cutler, cahoot's Marketing Director, commented:
"More and more people are seeing the benefits of webcard for shopping online. Webcard prevents fraud by totally blocking transactions from fraudsters who may otherwise have used customers’ account details to obtain funds illegally."
Read More: Cahoot Press Release
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Products from Cahoot : Card, Current Account, Savings, Unsecured Loans |
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