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Is secure your Credit/Debit Card ? Check Security First.

Friends, Credit cards have become an integral part of our life, but concern about its security and vulnerability is an ongoing issue. Here is a look at the security features introduced by card issuers and banks in the current scenario.

Verified by Visa / Master card Secure Code:
A significant upgrade in credit card security features came with the introduction of ‘ verified by visa master card secure code programmer ‘or second factor authentication. It addresses the credit and debit card transaction over internet.

EMV chip:
The EMV chip addresses security concerns while the card is physically swiped in a machine. When card are swiped on an electronic device, all the information stored on its magnetic strip get extracted for verification. The magnetic strip facilitates the transaction where EMV processing is not available and at the same time data will not be skimmed.

Second Level Authentication for IVR Transaction:
Even through second –level authentication has been introduced for online transaction, telephonic transaction with interactive voice response (IVR) started using second –level authentication with a PIN or a password this year only.

Credit Card Protection:
If you happen to loss your wallet while traveling in India or abroad, earlier you need to call each card issuer separately to get the card blocked .To ease this situation, a solution in the form of Credit Card Protection (CCP) exists.

Stay Safe :
Although many security feature have been introduced, still you can be a victim of the most common trap -phishing. Beware of mails appearing like coming from your bank / card company asking for your card details or personal information.

So, as far as credit card transaction go, be cautions. Here are few pointers:
  • Type the URL , your self and don’t rely much on search engines as there are chances for clicking similar duplicate sites.
  • Look for the prefix ‘https’ in the website, addresses. The ‘s’ in http stands for secured.
  • Keep in mind that no bank/card company would ever ask for confidential information through email/ phone under any circumstance.

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