Capital One is piloting a new feature for virtual card numbers (VCNs) called ‘binding’. Binding is where a a specific VCN is binded to a specific merchant meaning it can only be used at that merchant. Capital One added virtual card numbers in 2017.
Virtual Card Number “Binding” Pilot: We’re working on a way to ‘bind’ VCNs to a specific merchant, so that the VCN can only be used at that merchant. In other words, if any other merchant tries to process a transaction on that VCN, we will decline the charge. We plan to test this feature in this version of the Service. That means that a VCN you create to buy a hat from Merchant A should work at Merchant A but not work at Merchant B. We’re testing this out and “Binding” might not always work, meaning that VCNs might work at more than one merchant.
I don’t get it — this is how it has always worked for me.
Functionality is useless for preventing auto renew without ability to limit total charge amount to a given VCN.
Hasn’t this always been the case? Capital One’s virtual numbers are garbage, I can’t make numbers without being on desktop with the stupid ass extension. Fuck Eno.
Happy New Year.
This protection is if a Merchant database if reoccurring charges is hacked – stolen/hacked card numbers can’t be used elsewhere.
Now only if they would approve the community for some cards
1. Capital One (or any other bank) dont do code releases during holidays.
2. I see references to VCN binding dating back to December 2019
This feature has flaws because PayPal will use a different statement descriptor each time and Amazon has multiple statement descriptors. So I wouldn’t like this change.
i doubt they will be using the descriptors to map the merchants. they also have the vendors’ ids and stuff.
I hope you’re right. Citi on the other hand does use the statement descriptor- because they decline Amazon purchases on the same VCC used to pay for Amazon digital rentals or Amazon prime subscriptions.
They do use descriptors. Different vendors on Ebay, for example, need different VCNs
Hasn’t this been a feature for a while now with Capital One VCNs? I’ve already had this functionality available for at least over a year since I’ve been using VCNs
so what’s the point?
Umm, what? Hasn’t this always been the case with Capital One?
You make a VCN on Capital One and that card says “Use at [merchant website]”
Exactly. Whenever I’ve made a VCN, it says it can only be used at that merchant.
Yep. In my experience, this has always been the case using Capital One Virtual Account Numbers.
My guess is they are just taking the merchant name from the first transaction and using it to fill in that field on the VCN.
Citi’s had this functionality for years… Decades (since 2000 IIRC).
In today’s world of bait-and-switch subscriptions and in some cases, having to talk to someone to cancel the subscription, Citi is your friend.
They’re probably the last man standing in this area (outside of third party like Privacy.com or DoNotPay).
They more than make up for their bad IT with this virtual card option and their Double Cash offering.
Agreed