Credit card safety tips for online transactions

Posted on Friday, October 13th, 2023 | By IndusInd Bank

In today’s digital age, e-commerce has become more than a trend; it is a lifestyle shift that has fundamentally changed how we shop. The click-and-deliver convenience of online shopping has made it an indispensable part of modern living, especially in the age of social distancing and busy schedules. But with this unprecedented level of convenience comes a heightened risk of cyber threats and fraud, particularly when using credit cards online to complete your transactions.

While credit cards offer unmatched convenience for online shopping, they are not immune to security risks. Therefore, it is crucial to be vigilant about the safety measures you undertake and not just enjoy the benefits.

By the end of this article, you will have the tools and knowledge needed to strike a balance between convenience and security, ensuring that your online shopping experience is as seamless as it is safe. So read on to become an informed and empowered consumer in the ever-evolving world of online commerce.

Tips to master the art of secure online transactions

From choosing trustworthy websites to grasping the importance of one-time passwords (OTP), here are nine tips from IndusInd Bank that will help you avoid potential hazards, ensuring a secure and confident online shopping experience.

Stick to trusted websites only

Always ensure that the website’s URL starts with ‘https://’ rather than ‘http://’. Avoid clicking links in emails that redirect to shopping sites. Instead, manually enter the website URL to ensure you are not being led to a fraudulent site.

Avoid public Wi-Fi for transactions

Public Wi-Fi networks are often rife with security risks. IndusInd Bank advises against using such networks for making any transactions, as this may expose sensitive information like credit card numbers or banking credentials.

Avoid storing credit card details online

While it may be convenient, storing your credit card information online exposes you to identity theft risks. IndusInd Bank suggests entering your card details each time you make a purchase.

Keep your devices protected

Ensure your computer and mobile devices are equipped with the latest antivirus and anti-spyware software. These add an extra layer of security against potential hacks.

Stay updated with security settings

Outdated security systems are prime targets for hackers. Periodically check and update your computer and mobile device’s security settings to ensure you have the highest level of protection available.

Strengthen your PIN and password

Regularly update your PIN and opt for complex passwords for your online accounts. This makes it difficult for hackers to gain unauthorised access to your accounts.

Act swiftly in case of loss or theft

If you notice a lost card or an unauthorised transaction, contact the bank without delay. IndusInd Bank provides multiple channels, including sms, phone, and online banking, for this purpose. Your card will be promptly blocked to prevent further unauthorised activities.

Maintain a transaction record

After completing an online transaction, either save or print the receipt for your records. It helps you match transactions with your billing statement, aiding in the quick detection of any discrepancies.

Guard your OTP and PIN

Your OTP and PIN are crucial for securing your financial transactions. Never share them with anyone, not even if they claim to be bank representatives.

Opt for tokenization

In the payment sector, “tokenization” stands out as a pivotal technology, reinforcing the protection of your delicate financial data and reducing the vulnerability to online fraud and data breaches. Through card tokenization, your genuine card specifics are converted into a unique, encrypted token exclusive to your card.

How it works: During an online shopping checkout, you enter your card information and choose the option for tokenization. This token is then sent by the merchant to the relevant bank or card network for verification. Once approved, the generated token is returned to the merchant for future transactions.

The next time you make a purchase online, you will not see your full card number displayed on the merchant’s website or app. Instead, only the last four digits of your card number will be visible. To complete the payment, you simply select the card based on these last four digits, enter your CVV, and proceed to finalise the transaction.

How does IndusInd Bank keep your credit card safe?

IndusInd Bank offers a wide range of instant credit cards with a complete digital application process. It also takes your safety seriously and puts in place several ways to keep your credit card secure. For example, when you make a transaction, you will need to enter a one-time password (OTP) or a PIN. This makes sure that only the real card owner can use the card.

If you lose your card or think it has been stolen, you can easily block it. You can do this over a phone call, online banking, the IndusMobile app, or even by sending a text message.

We, at IndusInd Bank, also offer a special program called Total Protect. This program helps keep you safe if someone else tries to use your card without permission. If your card is lost or stolen, this program even provides insurance to cover any money that might be wrongly spent. The insurance covers you up to 48 hours before you tell us your card is missing.

This protection is not just for your main card; it also applies to any extra cards you might have. The amount of money protected is the same as your credit card limit.

Conclusion

While your credit card provider, such as IndusInd Bank, takes robust measures to ensure the safety of your transactions, it is equally crucial for you to be vigilant. Every credit card user should adopt these safety tips and enhance the security of online transactions.

With the right IndusInd Bank credit card, you can enjoy a seamless and safer experience in all your online transactions. Additionally, rewards points earned have no expiration date. You can redeem your reward points for cash in your credit card account. Some credit cards even offer “lifetime free” benefits without any joining or annual fees.

Apply now for an instant credit card from IndusInd Bank!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.