Paying bills using credit is a widely accepted method and has seen a gradual rise in usage all over the country. With each credit card transaction, customers are assured with reward points which can be redeemed to avail benefits like cashback and discount offers.
Citizens are now more inclined towards online credit card payments because of the host of benefits that it brings along. Apart from streamlining the process of bill payments, this financial tool has helped individuals make expensive purchases without stressing over the availability of cash.
According to the reports generated by Economic Times, around 93% of credit card users resort to their credit cards for making high-end purchases both online and offline. However, although credit cards come with optimum consumer protections, they are susceptible to fraudulent usage and online phishing. About 44% of cardholders have fallen prey to card payments frauds and forgeries; it is thus need of an hour to adhere to specific pre-emptive measures on behalf of the cardholder to mitigate the rising number of credit card scam and ensure safe monetary transactions.
Precautionary steps to safeguard online credit card transactions
Online credit card payments are susceptible to internet malice; given below are steps following fraudulent acts in the online platform can be put into check.
- Check about the authenticity of the site – Individuals should make a conscious decision and be more vigilant about the website they are shopping from. It is crucial that the shopping platform is authentic and is not fabricated for deceiving customers. It should start with a URL accompanied by letters “https”
- Don’t opt for online purchases using public devices – Individuals should refrain from using their credit cards for payments in public computers. The software integrated into such computers may store all the credit card information that criminals require to execute online scam.
The same also applies for unauthorised POS terminals. It is better to restrain using credit cards in every point of sale unit. Using it at genuine outlets, like at petrol stations to combat high fuel prices, reduces the risk associated with unwanted data theft.
- Use trusted sites to make credit card payments – Individuals are advised to avoid unsolicited emails while shopping online. These links may redirect them to a forged site designed to steal the credit card balances.
- Use online credit card profile – Customers should always refer to their online credit card profile and learn to analyse and read their credit card statement correctly. Individuals if they come across any misinformation and find dissimilarity in the accounts can report their complaint to their lending institution through credit card customer care number. In some cases, they can even ask their credit card issuer to block the credit card if they suspect any dubious act of transaction.
Reputed financial institutes like Bajaj Finserv provides Bajaj Finserv RBL Bank SuperCard, for the benefit of the users. It comes with the feature of monitoring the credit card profile online to allow access anytime, anywhere. It has accessible and achievable EMI options with exclusive credit card benefits.
With the gradual rise in the rate of credit card usage, the percentage of online scams have also seen a striking increase, thus being heedful while executing online transactions, individuals can lower their risk of getting victimized under cyber risks. With the above mentioned measures, individuals can safely perform their online credit card payments without bothering about online threats. Credit card customer numbers provided by every financial institution should be put into use when you suspect any act of deception.