Security advice using your credit card on the Internet.

In this high-tech era, the Internet is growing bigger and bigger every day and online shopping is fast becoming our shopping standard internet access and adoption are rapidly increasing worldwide, and the number of digital buying, commonly known as online shopping keeps climbing every year. In 2020, over two billion people purchased goods or services online, and during the same year, e-retail sales surpassed 4.2 trillion U.S. dollars worldwide. At the same rate, Credit card fraud is also increasing, fortunately, the security of these credit/Debit cards is increasing and their use is secured for most of the cards in circulation. However, Today our expert will show you how to use safely your Credit card on the Internet.

First of all,

• Add an extra layer. Consider using an online payment system or mobile payment services like PayPal, Apple Pay, Samsung Pay, or Android Pay to keep your credit card number out of the hands of multiple places, so that if the commerce or institution is hacked, it can’t leak your account number. However, It should be explained that the majority of the online merchants do not receive any information regarding your Credit Card. They use Payment Gateways like
• PayPal
• Stripe
• Square
• SecurePay
• Worldpay
• Authorize.net
• 2Checkout.com
• Braintree

How Does A Payment Gateway Work?

• The customer adds products or services to the cart that they want to buy and proceeds with the payment page.

The customer is then asked to provide the details of the credit card or debit card. These details include a 16 digit card number, cardholder name, expiration date, and CVV number. After submitting, the information is securely passed on to your payment gateway, based on the integration type i,e. Server-to-server, payment page integration or client-side encryption.

• The payment gateway then encrypts the card details and goes through a security check before sending the card information to acquiring bank.
• The acquiring bank sends the information securely to the card schemes i,e. Visa, Mastercard, Maestro card, etc.
• The card schemes ensure another layer of security check and then send the payment information to issuing bank. After performing the security and fraud check, the issuing bank authorises the transaction. The approval or decline message is sent back to the bank from the card schemes, then to the acquirer.
• The acquiring bank then sends the approval or decline message to the payment gateway who then sends the message to the merchant. If the payment is successful then the acquirer collects the payment amount from the issuing bank and holds the funds in the merchant account. Based on the message from the payment gateway, the merchant may either display order or payment confirmation page or ask the customer to retry with other payment methods. The best payment gateway provides smooth transactions and the process happens in the background in real-time and the whole procedure takes less than three seconds to complete.
• Source : https://devathon.com/top-10-payment-gateways/

• Avoid Public Wi-Fi.

Don’t use your credit card to conduct transactions, including checking your accounts, with public Wi-Fi.  like Airports, Bars, Malls, Railways Stations etc The reason is that these public networks, can easily be hacked and your information intercepted by anyone.

Airports wifi is the worst place to use to connect your bank account and cybercriminals have understood this.

The reason is that some travellers sometimes find themselves in a difficult position where they have to check their account in order to pay customs duties or etc.

Check your account balance before you travel. Limit using your phone to check sensitive information with your phone at any public place.

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Ken May 2021