A VirtualPIN is string of alphanumeric characters which acts as an alias for your financial information. In both cases, it is linked to your financial information entirely off the Internet. By using a VirtualPIN in place of your personal financial information, you are able to conduct business over the Internet without fear of someone obtaining your valuable information. The seller then sends the VirtualPIN to First Virtual with a request to charge the buyer's credit card for the purchase. Then, First Virtual sends an e-mail message asking the buyer to confirm the seller's request for payment.
Some sellers wait for the buyer's confirmation before delivering their product.
For Buyers and Pioneer Selllers, getting your VirtualPIN is a simple process which can be done any time, any day. There are three steps involved. First, you send us basic information, like your name and address. You will get a response from us via e-mail, usually in less than an hour. Next, you will activate your VirtualPIN for either buying, Pioneer selling, or both.