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Carrying multiple credit cards? Follow these 5 tips to ensure your online transactions are safer

Carrying multiple credit cards? Follow these 5 tips to ensure your online transactions are safer

Carrying multiple credit cards? Follow these 5 tips to ensure your online transactions are safer&nbsp

New Delhi: In recent years, credit card usage has grown exponentially especially in urban India. From not carrying wallets full of cash to getting consumer protection, credit cards have made lives simpler. However, with increasing credit card usage, the consumers are becoming more liable to be a victim of cybercrime.

According to a senior official from the Ministry of Electronics and Information Technology, India witnessed over 50,000 fraudulent cases related to Debit cards, Credit cards, and internet banking across the country in FY20. In fact, just recently, an Andheri-based entrepreneur got back Rs 50,000 in his account, the amount that his father lost in an online credit card fraud. The entrepreneur’s 78-year-old father died as he was disturbed after losing Rs 49,999 in an e-fraud.

Here are 5 tips that make your transactions safer:

1. Only shop from reputed websites: Online shopping is becoming increasingly popular and credit cardholders enjoy certain discounts, deals and EMI options on e-commerce platforms. While shopping from any website, make sure to always ensure that the connection to the website is secure. Instead of http://, the website address should begin with https://. This is an indication that transaction on payment gateway is secure and encrypted. Consumers should also search for protected digital certificates that will authenticate the website before any purchase from online merchants and websites.

2. Avoid using public devices, networks: Whenever you are carrying out a transaction of any sort, it is always advised that you avoid public devices or networks. Always complete your financial transactions on your password-protected laptops, mobile phones, or even desktops. Avoid entering your card details in any public device as there is a possibility that their security may be compromised. Additionally, avoid using unsecured public networks and use a secure Wi-Fi connection before proceeding with any financial transaction as using public Wi-Fi makes your data vulnerable to attacks.

3. Cash on delivery option: While withdrawing cash from ATM seems like a hassle especially when you have debit card, credit card, UPI payment options, it is advised that you don’t hesitate to use the ‘Cash on Delivery’ option whenever possible as it is a safe option with no extra charges. This choice is offered by almost all e-commerce sites.

4. Do not save your credit card details on devices: In order to access card, account details quickly, consumers are often tempted to save their credit card details on their devices. In order to avoid entering details again on shopping sites, customers even save their card details on their favorite. However, this places them at a higher risk of theft. Any time you make a payment, it would only take you a few seconds to fill in the credit card information and is a much safer option.

5. Lock your card: If you’ve lost your Credit Card, without further ado, you need to lock your card and prevent it from being misused. Most card issuers allow you to block or freeze your card through their mobile app or website or even through a phone call. Until the card is blocked or frozen, keep a sharp eye on the card statement and report any unauthorized transaction immediately to your bank and credit card issuer.

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