Security and protection of credit card information

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Credit Card Applications » Research » Guides » Cardholder Benefits » Security and protection of credit card information

Security and protection of credit card information


Updated: December 25, 2012

The content is accurate at the time of publication and is subject to change.

Credit cards have many advantages that can be used to the benefit of the consumers only if they are used properly. The first step in the proper use of the credit cards is to secure and protect the credit card information to prevent any kind of fraud. While use of credit cards is very helpful in making cashless transactions, the information can get leaked and the same cards can cause financial loss.

The security and protection of credit card information can be dealt with by putting in checks to ensure a system that would avert any kind of credit card fraud.

Network security
  • At this level, a very sophisticated encryption technology safeguards the credit card information. This technology is called SSL or secured socket layer technology. The card number, pin number and other information as seen on the card are based on this technology.
  • All information regarding the transactions made through the card gets stored. This is done through internet protocol followed by all credit card companies. This helps in tracking the last user in case of a fraud.
Physical security
  • It is, but a common protocol, that all customer service personnel are barred from using their mobiles and other personal belongings when entering their work station. This is done to prevent any personnel from getting hold of the card information and using them.
  • The personnel are also barred from making any kind of purchase when assisting a customer.
  • A strict vigilance is kept on their conduct.
  • The note pads used when attending calls of card holders are shredded every day to prevent any leak of information.
Third party authorisation
  • To check any kind of fraud or discrepancy regarding the name of the cardholder and the signature put on the card, a third party verification process is done. This is a normal protocol where the card holder is requested to submit their card details and signature in a verified format. This process ensures that the card holder is aware of the transactions made on his card.
  • To verify the validity of the transaction, cross checks and calls are made to the card holder as well as the issuing bank.
FAQ

The credit card is verified by Visa and Master card secure code. This adds up a separate password for the card which only the user can use on line.

Besides the above technicalities the responsibility for the security and protection of the credit card also lies on the user. There are certain steps that the user too must take and they are as follows:

  1. Do not reveal the pin code of the card to strangers.
  2. Personal information should not be revealed.
  3. Cards should be used for online shopping only on recognised sites.
  4. Before using the card for online shopping, the card should be verified by Visa or MasterCard.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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