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Thousands sign up for first disposable credit card

Fri, 04 Nov 2005

A consortium of Irish companies has launched the world's first disposable credit card in association with Visa.

The 3V credit card will be available in shops, supermarkets and petrol stations across Ireland and can be used throughout the world.

Over 10,000 credit card customers have already registered for the service, which enables people without traditional credit cards to pay for telephone or internet purchases and services.

The disposable credit card works in the same way that prepay mobile phone users buy credit for their phones.

Customers of the 3V credit card will be able to purchase a voucher with a unique Visa number. This can then be used for online and telephone transactions anywhere in the world where VISA credit cards are accepted.

The minimum value of credit card vouchers is €20 and vouchers of up to €350 can be purchased. However, topping up a 3V credit card will cost €5, regardless of the amount of credit bought.

It is expected that the disposable credit card will be popular among people who do not wish to give out credit card details over the phone or internet.

People who have been unsuccessful in obtaining a traditional credit card or who want to avoid credit card debt are also expected to register for the service.

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