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Plastic Money A New Way to Shop but Is Your Card Secure Enough???

Plastic Money A New Way to Shop but Is Your Card Secure Enough???

In : Technology By storytimes About :-2 years ago

Today in the era of technology, almost every person uses the debit or credit cards for making payments no matter online or offline. The Indian Government is also promoting to use cashless transactions and to use the plastic money by giving zero balance accounts and free debit cards to the users all over in India. But had you think before that your transactions are secured enough and your money is safe or not. For that you should consider these small points, by these, you can transact online securely.

 

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Should not save the Card:

Plastic Moneyvia


When you go for a transaction online, you have to submit your card details to the payment gateway and through this your purchase takes place. And almost all payment gateways give you the option to save your card details to make your future transactions faster. But all gateways are not secured enough and your card data may get stolen. So be careful and should not save your card details to payment gateways.


The CVV Number:

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In addition, banks give the facility of CVV (Card Verification Value) to the users to make the online transactions more secure. This is a code written back side of your card and without that online transactions will not take place even if someone has your card number. 


Identification of the Card:

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The starting digit of the card number allows the card issuers to identify the cards. As 4 is for Visa, 5 is for MasterCard, 34 and 37 are for American Express, 6 for Discover, 7 for Petroleum, and 1 for Airline Cards. This card numbers also allows the banks to identify the right customer.


Date of Expiry:

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Almost all credit and debit cards are issued for the short time periods by the banks and should be renewed once expired. This helps the bank to update the user data and also prevents frauds.


A Black Strip of Magnet:

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A black strip can be found at the back side of the card this is made of the magnet and used by swiping at the time of the transaction on POS (Point of Sales) terminal. The strip contains the data of the customer and it helps the banks to verify the user while transaction.


Security Pin and Chip:

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Nowadays the magnetic strips are not that secured enough and can be stolen easily. To avoid such situations the Reserve Bank of India gave the guidelines to the banks to issue pin and chip-based cards rather than Magnetic strip based. The chip adds the security to the card in next level as it generates the new token every time while transacting online or at POS.
 


Plastic Money A New Way to Shop but Is Your Card Secure Enough???