THERE are some simple steps that can be taken to ensure that transactions using credit cards are secure. The added level of security is essential to ensure that there is no misuse of the information on the cards for carrying out fraudulent transactions.
While there is a long list of things that can be done to ensure this, it is important that the individual focuses on a few steps that will be effective in ensuring that there is adequate security for transactions.
Verify sites:
One of the ways in which credit card users can protect themselves on the internet is to ensure that they use only sites that are verified and have a certain level of security. This will ensure that the information that they are submitting on the website is protected.
The presence of the term 'http' on the address space of the website and a lock at some place on the screen of the browser are the signs that one has to look for. This does not eliminate fraud but it increases protection.
Computers:
A common way by which the information related to a credit card is stolen is through computers and there are times, when the credit card user also does not pay attention to the computer on which they are conducting transactions. Thus, using public computers where anyone can insert a virus and not a personal one, where there is a certain level of security and safety, could lead to problems.
When such computers are used for transactions, someone can capture the details of the credit card, which is then misused.
There are also computers and browsers where the information relating to an individual's credit card is often stored and this should not be allowed so that someone else does not get this information once the credit card user has completed the transaction.
There is also an option that is given on various websites, where the user can use a virtual keyboard instead of the actual keyboard and the use of this can also ensure that in many cases, the password can be protected from being captured by unauthorised entities.
Physical use:
When it comes to the physical use of credit cards, the individual has to be aware of where it is actually being used and the manner in which the card is being used. The use of the CVV number on the back of the card is important for any transaction and hence, the individual has to ensure that whenever they are giving the card for a physical swipe, it is being provided at a place where chances of theft are remote.
Even after a basic level of care, a cardholder must also check the details of the transactions once these are completed. They can sign up for the transaction alert system, whereby they are informed after each transaction through a message on their mobile and this will help them track any usage that is unauthorised and help in taking immediate action. At the same time, they need to keep the helpline number of the credit card with them.
Additional security:
There are a host of options that are available for the individual user when transacting using a credit card. The Reserve Bank of India has made it mandatory that there should be an additional level of password use that has to be present when a transaction is done online.
Similarly, there has to be a new, one-time password generated when the transaction is being done on the phone using a credit card.
The same level of protection has to be followed with these passwords while transacting in this manner so that the additional layer of security acts as a protection ring for the user.
