Most of the people today are not comfortable shopping on the Internet because of the threat of insecurity, the threat of the possibility of the leakage of the card number and misuse of the same. This paper discusses a new payment model, which provides the user with control of when and for what the card is used, basically by adding an additional business security layer. The credit card owners has to login and provide a password to authenticate the transaction. It also provides for the division of this security layer into two parts one is the virtual i-card number, which is made available to the restricted public as identified by the credit card owner. The other part is the wPIN (Wireless pin) that is used only by the credit card owner for authorizing the transaction on fly.