I noticed a lot of people sell prepaid virtual credit cards for Bitcoin in here. Anyone knows how the sellers go about making the cards? Doesn't Visa/Mastercard have KYC rules? And isn't it very expensive to become a credit card issuer?
Thanks.
It's very complex task to talk about. In overall you have to be a bank or associated with bank (despite the fact that users have to top up balance, you should be serious bank with good capital and strenght, at least you have contract with one of the most serious company). Once you team up with visa/mastercard, then you are able to provide virtual credit cards. This is what I can say shortly but I don't know exactly why it's possible for some companies to abuse vcc.
Also as far as I know there are some virtual credit card providers providing API to let users create a lot of cards.