Virtual Credit Card: It there something like virtual credit card? Yes there is. We have banks in India HDFC and Kotak bank that allows you to generate a virtual credit card which could be used for payments on websites. These cards are one time use cards and will expire as soon as you use it once. The mail objective behind such virtual card service is to protect the actually card information to be shared on websites.
Take a look: Its call Netsafe and remember HDFC is a very reputed bank in India
Moving further about the company Entropay. Take a look at the website. Most of the information you need to know about the company starts from the website data:
Lets take a look at the contact us page:
Any company that deals in financial services business has to be registered under financial services authority of the country they are doing business in. This company is based in Malta and should definitely be registered with Malta Financial Services Authority (MFSA). The company claims that they are registered with FSA under license registration number 540990. Sounds great everything is perfect but just to make sure I thought of taking a look at the MFSA website on the activity of the company. Here's a link:
Under License Holder Tried searching for the company Ixaris Systems Ltd. and here is what I found:
There was no record of the company on the MFSA database. I even tried not searching and looking into the complete database but no such company on the list. By the way look I found Western Union there:
What I mean to say here is only one thing. Any company that deals in financial transactions need to be registered with the local financial services of the country they have their physical address in. If suppose western union is an american company with physical existence in 100 countries they not only have to be registered with Financial Services Authority in US but also in every other countries they have their physical address in.
I know many of you will still argue that it has a valid verisign logo which means it's a company with physical address and its been verified. But please remember its very easy to fool those verisign guys coz almost every verification is done online. Also the verisign information of this company shows its a company registered in UK not Malta. Just to be very sure again I also checked the FSA website of UK. There is no such company under FSA regulations even in UK.
I would want to give you the answer to your question very boldly but I had a bad experience today on this same website so I would rather allow you make the decision wether its a legit company or a SCAM.