Online transactions are increasing every day, both in number and in volume. Naturally, this increases the risk of fraud.
As a cardholder, if you have taken all the steps you are supposed to (for example, making the transaction with 3D Secure), the bank refunds the transaction amount to the cardholder even if the transaction turns out to be fraudulent.
So what can we do to increase our security in online transactions?
- Make sure your transactions are made with 3D Secure.
- Make sure the online merchant you are buying from has an SSL certificate. (You can tell whether a website has an SSL certificate from the lock icon in the address bar when you reach the payment page.)
- When entering your card details, make sure the address in the address bar starts with https://.
- Use a virtual card for your transactions whenever possible.
- Set your virtual card limit to the amount of the transaction you are about to make.
- Turn off your card's e-commerce permissions after you complete a transaction. (E-commerce permissions can be turned on and off through banks' internet banking, mobile banking, call center and other channels.)
- Shop from your own computer rather than from public computers.
- No e-commerce site needs your credit card PIN during checkout. Stay away from shopping sites that ask for your credit card PIN.
