Is your credit card data safe online? Here are 5 ways to protect it

Since the rise of digital payments, protecting credit card information in transactions is much more important than before. Security risks, that include phishing, bullying, hacking attacks and data losses, are real threats to financial security.

Hence, it is extremely important to keep your credit card data secure at all times. Let us learn more about how you can protect your credit card details during online transactions

Use secure websites

While making any transaction online, always check whether the website is secured or not. Secure sites typically have URLs beginning with “https://” at the beginning of the link and a padlock in the URL bar. These indicate that the web site has encrypted your information. Therefore, do not put your card details on unsecured sites as they can be easily hacked.

Avoid using public Wi-Fi for transactions

Coffee shops and other public areas provide you with free Wi-Fi which you can use to surf the net. However, for making payments, this might not be a good idea. An open Wi-Fi makes your data vulnerable to hackers. Public networks have poor encryption standards and means it is easy for hackers to tap into your connections.

In cases where you cannot avoid making a transaction using your phone, you should make the payment while using a Virtual Private Network (VPN) which will encrypt and save your data to some extent.

Enable two-factor authentication

Two factor authentication(2FA)enhances your credit card and overall device security because it uses an OTP (one time password) which will be sent to your registered mobile phone or email address when making payments online. Hence, even if a hacker tries to make a payment through your credit card details, an OTP will be required to make the payment successful.

Do not share your card details

Never share your credit card details over the phone, through email or social media requests, even if they seem genuine. Banks and merchants never request for your card details such as PINs, CVVs, OTPs through such channels. Remember to always report back any strange request on your card to your issuer without any delay.

Beware of phishing scams

Phishing is a scam in which fraudsters aim at tricking people into sharing their personal and financial details in the form of email, messages or websites. This happens when hackers use fake e-mails which appear like genuine service providers.

Make sure that you never open a link or an attachment from unknown sources or somebody that is unfamiliar to you. Along with this you must never reply to an email from an unknown sender or when there are doubts whether it was sent by the right person.

In conclusion, securing your credit card details is extremely important and can be done easily by staying vigilant and by taking necessary precautions. Always be cautious while using any app which requests you to make any sort of payment and before taking any further steps make sure to verify the website or app.

Avoid saving your card details on your device so that even if you do not make any online transaction, there is less chance of data leak from your device. With this, you will be able to use your credit card carefree and make the most out of the benefits provided to you by the lender.

(Note: Using a credit card carries its own set of risks)