Card Security in Online Payments
Use Virtual Keyboard
You will be surprised but hackers can figure out your password by capturing your keystrokes on the keypad. You can unwittingly download programs such as spyware and trojan programs from free MP3/MP4 downloads, which can capture your keystrokes. Banks have introduced the concept of virtual keyboards to protect your account, card information or password (IPINs) to avoid such frauds. So, always enter important information using on-screen keyboard as there is a risk of interference by some spyware.
Ensure Card Security Features
Most cards (credit/debit) have a signature panel, expiration date, magnetic stripe and unique account number. Make sure you sign at the back of your card. Be cognizant of the three-digit code known as the CVV (Card Verification Value).
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Upgrade your magnetic stripe card to a chip card to encrypt any transaction. Make sure your card has a holograph unique to the card-issuing authority. You can also request to add your photo on the card from the issuing bank. Besides the above-mentioned ways, certain card providers also give a virtual credit card number to prevent fraud and identity theft.
Don’t Save Cards/Passwords
It is a common practice by many customers to save their card details on merchant sites to save time and effort for repeated transactions. You need to avoid this temptation to keep your data secure. Password is another crucial aspect that you need consider to keep your online transaction secure. Set a strong password and change it every six months if you are doing frequent online transactions. Further, it would be best if you did not fall victim to anyone asking for your password or PIN.
Use UPI Safely
In April 2016, the RBI introduced the UPI (Unified Payments Interface) and now we are using in our DilPay App for safely which has proved to be a boon for merchant payments and peer-to-peer transactions. A standard error on the UPI platform is that customers do not know the difference between collect or payment requests.
Remember that you do not have to enter your PIN while receiving money through UPI payment. You should also check the transaction type whether funds are to be received or sent. When in doubt, reject the transaction and do not install malicious apps.
