When paying with a credit card at the supermarket checkout, in a restaurant, or at a hotel, many consumers fear that their data could be spied on. However, the risk of credit card fraud is higher than you might think. We’ll explain why in the following guide.
In 2020, the willingness to use electronic payment methods for everyday shopping increased. These include debit cards and credit cards. Both are generally secure, but carry a small security risk. Following the following tips will increase the security of credit card payments .
Credit card security: What you should pay attention to
Credit cards have several security features that make it difficult for unauthorized persons to use them. Let’s first look at the visual features. The lawyer database most striking is the so-called embossing. This involves information such as the name, card number, and expiration date, which are printed upwards in relief. Credit cards also contain holograms. Their appearance changes when the card is tilted. The EVM chip is also important. It is required for the secure transmission of data. This makes it difficult to use duplicates in card payments. Last but not least, the signature is an important protection mechanism for the consumer.
How do I pay with my credit card?
There are three options for credit card payments. First, a payment can be confirmed in the traditional way with a signature. It is also possible to participation in online and offline events authenticate by entering a PIN. Small amounts, usually up to €25, can be made contactless and without a signature or PIN.
PSD2 Directive: What has changed regarding credit card payments?
The Payment Service Directive 2 has changed credit card payments in three areas: After five contactless credit card payments, the PIN twd directory must be entered again. Security has been further enhanced by requiring double confirmation of a card payment. This is particularly important for online shopping, where entering personal information was previously sufficient. Another positive for consumers is that since the directive’s introduction, it is no longer permitted to charge additional fees for credit card payments.