23 Safety tips for doing online payment using credit or debit card.
As number of online transactions is increasing day by day use of credit or debit cards have also increased. This also resulted in increased online payment frauds. When it comes to online payment credit card are generally safe. To make online payment using any card more safer check out following tips to avoid any online scams.
1. Use secure internet connection. As far as possible don’t use public hotspot. Shop online only from your own computer or laptop (or that of trusted friend) with a private Wi-Fi connection.
2. Don’t share your personal information with every site you visit.
3. Don’t enter your personal banking information, credit/debit card information or investment account information on a computer which is not protected with proper updated anti-virus and anti-spyware software (i.e. on unsecured websites).(Most of such anti-virus software updates automatically if you have software installed.) Before entering any credit or debit card information just ensure the address used “https” instead “http”. Also ensure your browser showing secure padlock sign the address bar (or elsewhere in your browser window).
4. Log off from the site and close the browser once you finish transaction. Never let any website store your credit or debit card number.
5. Whenever possible use your credit card for online shopping. Avoid using debit cards as if there are any fraudulent charges on credit card usage it can be easily disputed. In case of debit card use for payment, amount is directly debited from your account, so dispute resolution would be difficult.
6. Use Virtual Credit Card (VCC)
The best and secure way to use credit card is using virtual credit card (VCC) for online shopping. As VCC is replica of the actual credit card generated by online user to transact on any website. It is generated in virtual environment and contains all the required information same as of credit card, thus no need to carry your actual credit card ‘safely’ in your wallet. VCC is valid only for one-time transaction and automatically gets expired once the transaction is over. Also user is allowed to set the credit limit of VCC. So even if the card is hacked; it will not be useful as card expires after one successful transaction. And almost all payment gateways accept VCC as a real credit card. Thus VCC not only saves efforts but also are cost-effective as some banks offer reward/ bonus points whenever you use VCC. In India currently HDFC bank (HDFC VCC) and ICICI bank (ICICI VCC), Kotak Mahindra bank (Kotak Netc@rd) provides facility of VCC to their card holders without extra charge.
7. Keep the password strong. It should not be easy to decode the password. e.g. 1234 is not a good password. The password should be a good mix of numbers, characters (both upper and lower case) and special symbols. Don’t use obvious names/numbers like your name, date of birth etc.
8. If you receive any email asking for your credit card details, delete it. Don’t respond to such emails even if they look official mails from your bank. No bank asks for such details over phone or e-mail.
9.If you receive an e-mail with link to any shopping site (even if it is big name), don’t click on this link. Rather go to the address bar and type the site name you want directly on the browser. This will protect you from clicking fraudulent links.