| Timing | Who’s affected? | What’s happening? |
|---|---|---|
| January 2017 and beyond | All ecosystem participants | Issuers may be assigned 2-series BINs |
| June 2017 | All ecosystem participants | Merchant and ATM field testing and compliance program begins |
https://www.mastercard.us/en-us/issuers/get-support/2-series-bin-expansion.html
A google search on BIN ranges gave me this Barclaycard document - Going to leave here for more savvy users to explain @GalaxyMergirl
Yes and those documents including 2-series bins have been sent to merchants from late 2016. Even my company has updated and our release cycle is ridiculously slow 
Challenge accepted 
Howdy!
I had a thought based on some new functionality that Capital One has in the US.
Essentially, they have a new app where you can generate one off card numbers that are tied to your account. You can then use those numbers with online merchants so that if that number is compromised, it is useless, as it could only be used once. (Very similar idea to Apply Pay and Google Pay tokens).
The interesting addition they have is that you can optionally create long lived card numbers, that becomes tied to that merchant on first use. So you could create a card number to be used exclusively on Amazon, one to be used exclusively on Paypal, etc. That way you don’t need to constantly enter a new number, but it also becomes useless if its ever discovered and used elsewhere.
This kind of functionality sounds like it would be amazing on Monzo.
Cheers!
This sounds awesome. I would definitely benefit from that. Taking virtual cards to a whole new level.
How does the US have this, but not chip and pin? 
Howdy
Isn’t this what Revolut are doing?
I just save my card details so I don’t have to keep typing them in. I can see this being useful if you don’t trust the retailer but then why would you shop with a retailer you didn’t trust? If it’s compromised you can claim the money back anyway.
The idea that’s been thrown around about having certain pots on your account for certain retailers seems more of use eg all payments to Amazon coming out of Amazon pot of your account.
Sorry, I’m not sure, I don’t use Revolut, but I can’t see any info about it online?
I see they have “virtual cards” in the sense that you can sign up for an account without ordering a physical card. However what Capital One’s app does is have a one button click to generate a new card number for an existing account, which you can use somewhere. You can then see them all and revoke them all to your hearts content. As mentioned, it also gets tied to that merchant, so that it can’t be used elsewhere if discovered.
As for why shop at merchants you don’t trust, well, trust comes once a relationship has been established. 
Sometimes you just can’t find something on Amazon or Paypal. Maybe a one off piece of art from an artists website? I don’t necessarily not trust them, but their security might not be up to the usual standard.
Knew I hadn’t had a weird dream
Maybe it’s just because I’m very risk averse. I’d google the company and see what other customers said before I ordered. But I can see how serious art etc collectors might have a use for it
That would be one of the benefits of this, you wouldn’t need to be risk averse. If you had assurance that this number would work only once, at this merchant, for this one transaction, you wouldn’t need to worry about them getting hacked and that card being used by bad actors elsewhere.
(Of course there’s the case of actually getting the goods you’ve paid for, but how much you care about that would depend on how much it cost.)
Thanks for the link, that does look very useful! The biggest addition to the Revolut/Capital One system I see is the ability to keep the card number but for that merchant only. Revolut seems to delete the card number after the transaction has gone through.
EDIT: It also seems the Revolut system only allows you to have one virtual card number at a time.
Everyone can be hacked, including trusted, established companies.
You can be hacked, even if you take precautions.
So actually the main benefit of unique card numbers is: at some point your credit card number will be compromised, and then it’s a pain to have to update the possibly 10s or even 100s of merchants you use with your new credit card details. Subscriptions might fail because you forgot about one of them.
By limiting the scope of the damage to a single merchant when one of your numbers gets compromised, you save yourself a lot of pain.
It’s a great feature that I’d love to have, and switch credit card company to obtain, it’s not quite worth £7/month to me. If Monzo implemented the feature for free, it would give me a reason to use my Monzo account again.
And I feel that Revolut’s limit of 1 disposable card per account rather misses the point anyway.
Only about 5 for me. Probably that’s why i’m not concerned 
Sounds like you missed these updates.
Nope, they’ve said that they’re aware of this so it’s probably just a situation that’s out of their control.
Revolut is slightly different. You have virtual cards but not set to specific merchants.
Would be great if you could have a virtual card set to specific merchants so that if that number is used elsewhere then the card declines.
That’s the impression I got from the OP with Capital One
That is indeed the big difference/innovation here. As I mentioned in my first post, virtual one use cards aren’t really anything new (Although I’d still like Monzo to have them!). It’s the ability to create a long lived virtual card that’s tied to a specific merchant that I find the most interesting.
That’s bad design!
Whilst I am impatient for Monzo to do something like virtual card numbers, what I do appreciate is that when they do implement a feature, it’s well considered and not confusing.