6 Ways to safely use your Credit and Debit cards in India
2 weeks, 4 days ago

6 Ways to safely use your Credit and Debit cards in India

India TV News  

With the growing popularity of online shopping and digital payments, credit and debit cards have become essential tools for convenience. Avoid using Credit cards for cash withdrawals While banks allow credit cardholders to withdraw cash, this can lead to high interest charges from the day of withdrawal. Instead, create strong, unique passwords using a mix of letters, numbers, and symbols, especially if you frequently use your card online. By following these safety tips—choosing trusted websites, using secure networks, enabling two-factor authentication, and setting strong passwords—you can shop online with confidence and avoid falling victim to cyber fraud.

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History of this topic

7 Smart tips for a safer online shopping experience in India
1 month, 2 weeks ago

7 Smart tips for a safer online shopping experience in India

India TV News  

With the growing popularity of online shopping in India, everyone is making online payments for cashless shopping. But with the strength of online shopping, the customers will have to be assured about safer transactions, as hackers and scammers are already actively tracking your moves, waiting for one mistake which could be an opportunity for them to steal from you. Use …

Mastercard wants to get rid of card numbers for online shopping
4 months, 1 week ago

Mastercard wants to get rid of card numbers for online shopping

Live Mint  

-- Mastercard Inc. is expanding its efforts to eliminate the use of credit card numbers when customers make purchases online in a bid to fight fraud. A decade after it first unveiled a technology that replaces consumers’ card numbers with so-called tokens, the company is now processing 1 billion such transactions every week, Chief Executive Officer Michael Miebach said in …

Credit Card Frauds: 5 Ways To Protect Your Hard-earned Money From Offline & Online Scams
8 months, 2 weeks ago

Credit Card Frauds: 5 Ways To Protect Your Hard-earned Money From Offline & Online Scams

News 18  

Cash transactions are considerably declining and people are increasingly comfortable with digital payments. Regularly monitor your credit card transactions through online banking or mobile apps. Avoid using public Wi-Fi for credit card transactions, as these networks can be less secure. Avoid entering your credit card details on suspicious websites or responding to unsolicited emails or calls requesting your card information. …

How to prevent credit card information theft while shopping online?
1 year, 4 months ago

How to prevent credit card information theft while shopping online?

Live Mint  

So many banks and fintech organizations are launching new credit cards with each kind of card offering benefits distinct from others. While factors like potential data breaches at your preferred online stores are beyond your influence, you can adopt prudent shopping practices that can thwart unauthorized access to your details and prevent credit card fraud. Listed below are a few …

The Maths behind the rise in credit card transactions in India
1 year, 6 months ago

The Maths behind the rise in credit card transactions in India

Live Mint  

Rise in credit card transactions in India: After the Unified Payments Interface, now credit card transactions have surpassed debit card usage in India. When compared to debit cards, credit card transactions had a total value of ₹1.33 lakh crore as opposed to ₹53,000 crore. Historically dominated by debit card transactions, the shift towards credit cards is driven by several factors, …

Beware of hackers! You can take these precautions to keep your financial data safe
2 years, 7 months ago

Beware of hackers! You can take these precautions to keep your financial data safe

Live Mint  

Hackers and fraudulent customers stole Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a complaint filed by the payment gateway company. RBI introduced an additional factor of authentication from October 1 last year in view of the storage of financial card details on merchants’ websites. The key reason …

SBI Customers Alert! Using UPI, Debit Card, Mobile Banking? Follow These Steps to Avoid Frauds
2 years, 8 months ago

SBI Customers Alert! Using UPI, Debit Card, Mobile Banking? Follow These Steps to Avoid Frauds

News 18  

SBI Digital Transaction: The State Bank of India, or SBI, on Monday shared a list of guidelines with its users while doing digital transactions. – Try using unique and complex passwords – Remember to change passwords frequently – Never disclose, store or write down your user ID, passwords or PIN – Remember, Bank never asks for your user ID/passwords/Card No/PIN/Passwords/CVV/OTP …

Safety Hacks You Should Know to Stay Protected from Rising Online Banking Frauds in India
2 years, 10 months ago

Safety Hacks You Should Know to Stay Protected from Rising Online Banking Frauds in India

News 18  

With the significant rise in the use of digital systems over the years, cybercriminals have swarmed the internet to perform online crimes such as data fraud, theft as well as hacking and the banking sector is also not out of their reach. Devious ways The most common forms of banking fraud in India are: Vishing- Phone calls pretending to be …

RBI's push for card security to hit merchants, lenders
3 years ago

RBI's push for card security to hit merchants, lenders

The Hindu  

The Reserve Bank of India's plans to move towards card tokenisation is likely to hit a wide range of companies from major e-commerce firms and food delivery firms to lenders, while increasing the use of cash, said industry sources and bankers. "Introducing an additional step in payments adds friction and several studies show that customers may end up dropping out …

Cyber Fraud: Protect Your Account From Cyber Criminals With These Steps
3 years, 1 month ago

Cyber Fraud: Protect Your Account From Cyber Criminals With These Steps

ABP News  

Cyber Fraud: With increase in online transactions, cyber criminals are becoming more vicious and finding new ways to steal money from your bank account. New Methods of Cyber Fraud: According to security agencies, such people are contacting customers pretending to be bankers, insurance agents, healthcare or telecom employees and government officials. These fraudsters convince customers to share information immediately, citing …

Consumers more concerned about digital payment frauds: Survey
3 years, 6 months ago

Consumers more concerned about digital payment frauds: Survey

Live Mint  

Bengaluru: Indian consumers are increasingly concerned about digital payments and look to exercise greater caution, according to a new study conducted by YouGov and digital payment software, ACI Worldwide. Almost 71% of consumers surveyed by YouGov and ACI Worldwide are more concerned about scams and fraud owing to the shift to digital methods of payments due to covid-19. When it …

Debit Card, Credit Card Rule: Can't Use New Card for Online Transactions? Know How to Activate it
3 years, 7 months ago

Debit Card, Credit Card Rule: Can't Use New Card for Online Transactions? Know How to Activate it

News 18  

Amid rising cases of banking frauds in the country, the Reserve Bank of India has introduced several measures for secure debit and credit card transactions. For online transactions: To enable any other facilities including online transactions, international transactions and contactless transactions in the debit and credit cards, customers need to approach the bank. How to activate online transactions in your …

Banks Can Now Disable Debit Or Credit Cards For Online Transactions. Know What It Means To You
4 years, 3 months ago

Banks Can Now Disable Debit Or Credit Cards For Online Transactions. Know What It Means To You

ABP News  

In order to secure banking transactions and curb misuse of cards, the central bank has issued new guidelines that have been effective starting October. CBDT Extends Belated, Revised ITR Filing Deadline For AY 2019-20 | Check Details From this month onward, all the new debit and credit cards issued by banks will only be enabled for domestic transactions at ATMs …

What you need to know if you’re getting a new credit/debit card after 16 Mar
4 years, 9 months ago

What you need to know if you’re getting a new credit/debit card after 16 Mar

Live Mint  

Anytime after 16 March if you intend to get a credit or debit card, you'll have to keep a plethora of things on your mind. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their new card. Note that a contactless transaction occurs when one buys products or services via …

Never used your credit/debit cards for online purposes? They’ll be disabled by 16 Mar
4 years, 10 months ago

Never used your credit/debit cards for online purposes? They’ll be disabled by 16 Mar

Live Mint  

Come 16 March, an RBI rule will kick in, which will automatically disable any credit or debit card that has never been used for online purposes. For existing cards, issuers may take a decision, based on their risk perception, whether to disable the card not present transactions, international transactions and contactless transaction rights. Existing cards which have never been used …

Despite OTPs, This is How Fake Transactions Can Happen on Your Card in India Too
4 years, 11 months ago

Despite OTPs, This is How Fake Transactions Can Happen on Your Card in India Too

News 18  

While phishing attempts are nothing new, most cardholders in India consider themselves safe enough, thanks to the two-factor authentication of card transactions in the country. While the factor of non-OTP transactions pose a threat to cards outside India, the same can happen for anyone even based in India, says Manan Shah, founder of cybersecurity consultant Avalance Global Solutions. Further frauds …

SIT on black money: Govt should make credit, debit card mandatory to pay bills; move will curb use of unaccounted money
5 years, 2 months ago

SIT on black money: Govt should make credit, debit card mandatory to pay bills; move will curb use of unaccounted money

Firstpost  

Banks and institutions in India are fully geared to usher in a debit or credit card revolution, consumers have also realised the advantages and benefits of using debit or credit cards. New Delhi: In the backdrop of massive increase in currency in circulation, the Special Investigation Team on black money has suggested that the government should make debit, credit card …

Never use debit card for shopping or online. Why? This famous con artist explains
5 years, 3 months ago

Never use debit card for shopping or online. Why? This famous con artist explains

India Today  

Security and privacy, whether its related to data or finances, has always been vulnerable to hostile sources. In his latest piece for CNBC, Abagnale speaks about the security systems of today and specifically asks people not to use debit cards. When I use a credit card, I’m spending the credit card company’s money every day until I pay my bill …

Online banking fraud: 7 tips to ensure fraudsters can't swindle your money
5 years, 5 months ago

Online banking fraud: 7 tips to ensure fraudsters can't swindle your money

India TV News  

Online banking has reduced customers tensions for basic transactions and allow individuals to conduct financial transactions on a fingertip via the Internet. Every year over thousands of people reports of being duped via online banking fraud. Well, if you are an online banking user, then you must follow these tips to avoid net banking fraud. Online Banking Fraud: 7 things …

Keeping digital wallets safe: Staying vigilant is key as cyber theft risks rise
5 years, 6 months ago

Keeping digital wallets safe: Staying vigilant is key as cyber theft risks rise

Firstpost  

Innovations in India’s fintech landscape are changing the way its population manages their finances. As India moves towards a cashless economy, there is a heightened need to secure one’s digital wallets and mobile banking applications. A digital wallet requires the user to link their bank account details to the app to transfer money based on user’s needs, which means sensitive …

7 ways to protect yourself from credit, debit card frauds
5 years, 10 months ago

7 ways to protect yourself from credit, debit card frauds

India TV News  

With more and more people switching to online modes of making payments, the chances of credit card, debit card, ATM cards and banking frauds are on the rise. In a recent development, even the State Bank of India has warned card users to stay alert in order to avoid card skimming frauds, which involves copying data of a credit, debit …

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