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  • Category: Miscellaneous

    How safe are online payments using our credit or debit cards?


    Are you apprehensive about using a debit card or a credit card to make an online payment for a product or a service? Discussions in this thread refer to the safety measures that can be taken to ensure that the card details are not accessed by miscreants.



    Dear Members,
    While we are not to disclose our card information to anybody, how safe would be the online payments to the online suppliers? To make a payment, we need to enter the Credit/Debit card number - Card validity month & year - CVV number. Then we get a OTP (One time password) from our bank in our registered mobile number. We enter the OTP. The payment is successful.

    My question is - Is it 100 % safe? Can any supplier or anyone play foul with the credit/debit card details provided for payment?

    Your experience, views and opinions, please.
  • #714982
    The chances are very less. To accept the payment through the card the OTP system is there. This OTP will come to you on your registered mobile-only and the mobile accessibility is alone to you only. So as long as you don't reveal the OTP to outsiders there will not be any problem.
    But sometimes some people call you and ask you to say OTP. You should not tell them. They may be having your card details and they may be trying to use it. To make the transaction they require your OTP. So they try many ways to get that OTP. So you should be always alert and whoever may be calling you, you need not tell them the OTP.

    drrao
    always confident

  • #714985
    This is quite a robust system where there are many checks and verification and only we can do these through our mobile and OTP and other credentials. Supplier and sellers cannot do any mischiefs because all the reference numbers and records are there which they cannot negate. Still the system is not 100% foolproof. There are many reasons for that. If we are using a computer system where suitable virus protection is not there then the hackers can fish out the valuable data and can do certain mischiefs with that. Cloning of the cards for ATM transactions is also there. Any hacker with an IT qualification knows about it equally to the level of a design engineer who have designed these systems. So those who can design it can break it also. Before OTP, we had some frauds. To circumvent them OTP was introduced. Now some banks are including a grid behind their debit cards and the grid will change every 6 months and we will get an email for that. So, that is another level of protection. There is a continuous war between the designers and the hackers who are, I will again repeat, equally qualified. So, frauds can happen anytime and after that only another level of protection will be made available to us. This will go like this only. We have to use secure places only for transactions and take all the care that we can.
    Knowledge is power.

  • #715076
    To know the loopholes is equivalent to taking appropriate steps to ensure ones safety. Most of the sites and communication regarding safety of cards is discussed and even detailed but I would rather let you know two big loopholes which I personally suggest, if anyone asks for ensuring safety of his cards.

    First is the Swipe payment feature of cards. Payments can be made with just a tap and no need to give the card to merchant for deducting any payment from card. Now, new cards are coming with this feature disabled and one has to go to bank to get the same activated. Those with old cards still have this feature enabled and they must be very cautious as anyone with a swipe machine can actually swipe away money from your card without even you knowing about it.
    Anyway, the limit has been capped at Rs 2000 for minimizing the loss still, one must be wary as to when and where to use the card and how to keep it safe so that the money is not withdrawn without one's notice.

    The second loophole is International payment.
    If there is international payment feature enabled on your card them you must get the same diabked6 immediately or fix a small limit for international payments.

    In case of international payment the requirement is OTP is also skipped and the payment gets professed as soon as one enters his card details and clicks make payment option. So, one must always disable the international payment feature and also keep no limit for payment. If you have to make any intentional payment then activate it before making the payment and deactivate it immediately after payment.

    Many times the cards details gets leaked or stolen by online scamster, database leak of on-line sites, details copied at shops while making payment, etc.

    Most of the times your card and online transactions are safe and if the above 2 loopholes are alos covered then for the time being all your transaction online are completely safe unless the scamsters come with some new trick to defraud people.

    Live before you leave.

  • #715091
    I think except for getting the OTP from bank on our cell phone nothing is secure and our credit and debit cards can be hacked. The online marketing companies are asking all details of cards to make payment and thus all our details including CVV is with the customers of ours. Even the pass words can be managed with the illitereate people who does not know the banking procedure and has much money in the account and does not know how to draw and how to deposit. The banks should not deal with those who are suspicious and when ever card payments are done we must be doubly sure not to share all information.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #715101
    Nothing is 100% safe theoretically.
    But practically if we take prudent steps we can avoid risk to the maximum possible extent.
    The card usage is protected by three-level control.
    1. Physical possession of the card/Card number and name and the entry password for your device.
    2. The CVV
    3. The OTP coming to your mobile phone.
    If all these are breached only the risk comes.
    So the precautions are:
    1. Keep your mobile or laptop or desktop password protected. Erase the traces of the transactions after completing the same.
    2. Keying in the password. Keep your password very unique with a proper combination of alphabets, numbers, special characters and using keys from different levels in the key board. Change password periodically. Use virtual keyboard for entering password for transaction.
    3. Never answer to any mail or phone enquiries about your card, CVV, OTP or PIN.
    4. Never be in a hurry while doing an online transaction. Be calm and look for the 'lock' symbol on the address bar.
    5. Some internet security software give protected windows for such transactions.(Example- 'Safe Money" in Kaspersky Internet Security). If so use them for such transactions.
    6. After completing the transaction ensure you get confirmation of your orders in email. Also visit your account page in the website of the shopping portal and ensure the order confirmation and details are there as per your transaction.
    7. In case you do not get order confirmation from the shopping portal and your money is taken from the card, you take up with the shopping portal and inform the transaction and ask for order confirmation.
    8. Some shopping portals save your card details. If so, after completing the transaction, come back, log in to your account in the shopping portal, and delete the saved card details.
    9. As an abundant precaution to reduce the risk, limit per day and per transaction amount to some low amount. You may even de-activate the card after usage and activate it when needed as per your needs (this varies with service providers)
    10. In the case of POS transactions, never allow your card to be away from your sight, and let the swiping etc done in your presence and get the card back immediately. Ensure SMS received in your mobile for the transaction.
    Install good Internet security software and keep it updated always.
    If we follow these prudent precautions we can avoid maximum possible risk as per the current knowledge and situations.

  • #715141
    Yes, nothing is 100% safe as far as card transactions go. It is we who need to take the necessary precautions and #4, #8 and #10 are very important points that Venkiteswaran has brought up. In my case, I avoid doing any online transactions late evening/night. During the day I am likely to be more fresh and alert and if at all some mishap occurs and I am unable to get through the Toll-free number to block the card, I can go quickly to the Bank directly.

    There was an online talk that my sister had once attended, where the speaker had mentioned that we should avoid keeping large amounts in the account of which we use the card for online transactions, and ideally use only that one card for all online transactions, whether purchasing something or paying an online bill.

    When you make a commitment, you create hope. When you keep a commitment you create trust! ~ John C. Maxwell

  • #715212
    People say that online transactions are fool proof and there is no risk in using them. At the same time when the hackers or other people do some fraud by manipulating the system then we become fearful that same thing can happen to us. Due to this continuous and looming threat some of us avoid online transactions and do it in a limited ways. Only good thing is nowadays the banks or credit card companies have provided some contact number where one can register the fraud so that the liability of the card holder is limited to that extent or in most of the cases banks recoup these losses. Still the fear of being duped online is always in the back of our minds while using these digital methods of payments.
    Thoughts exchanged is knowledge gained.


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