Is Your Credit Card Information Secure?
Whenever you use a credit card, security is extremely important. Your card is the gateway to all of your finances, so it is critical to make sure that no one can access it. Credit card companies are constantly looking for innovative and creative ways to increase the security on your card.
Personal Keypads
One exciting feature was developed by a company in Australia. It’s a battery-powered credit card keypad to reduce fraud. With this feature, your credit card includes its own keypad directly on the card and you type in your PIN number to get a one-time code that will authorize your purchase. The card is being used in Great Britain, Israel, Switzerland and Italy. This exciting technology puts the keypad in your hand, rather than on the merchant’s counter, where someone may observe what you are doing,
Credit Card Sleeves
Another great form of protection for your credit card is a credit card sleeve that hides the number. You put your card inside the sleeve and while it still shows your name and the last four digits of your card for identification purposes, the entire number cannot be read. The back of the sleeve is clear, so the merchant can authorize your signature.
Phone it In
Mobile phones are getting into the credit card game. Now you can get a cell phone that has a built-in program for your credit card information. You program the phone to carry your personal information and when you’re ready to purchase something you just choose the card you want to use and a biometric fingerprint capture terminal allows you, and only you, to access your account information. You can even program the phone with discount plans you are eligible at certain merchants.
RFID- Is it Safe?
One feature that makes using the “wave and pay” credit cards possible is RFID, or radio frequency identification. Keep in mind is that as credit cards continue to use RFID (radio frequency identification technology) to make their cards easier to use, that technology is not always as secure as you might like. In fact, recently Discovery Channel, on its popular television program, Myth Busters, prepared to do a program about how easy it is to hack into RFID technology and access information. Corporate lawyers from several major credit card companies showed up and put a stop to the upcoming episode. Obviously, card companies have been a continual to enhance the security feature because it is to their benefit to keep you as a consumer safe and secure, but never forget that all technology that uses Internet — based, radio frequency, or any other virtual communication system is going to be subject to vulnerabilities.
One feature that can enhance the security with all our RFID enabled devices are fingerprint activated measures, such as the ones used in the mobile phones mentioned above. In these cases, no information is actually stored on your device and you have to have your own personal fingerprint to access the accounts providing an additional security of RFID technology.
Technology Changes Rapidly- And so Does Credit Card Security.
Obviously, well need to pay attention to security features used on credit cards, but there’s little doubt that with the speed of technology and advancements, that credit card security will continue to rapidly improve. Never forget, however, to continue to take the standard security measures that you’ve used in the past.
The Old Standby Security Procedures are Still Important
Carefully guard your PIN number and never leave your card lay out. Always make sure you receive your car back from a merchant and maintain your receipts in a safe place. Don’t give out your card number over the phone, and never give your personal information over the Internet to any source that requests it from you, even if it may appear to be your own financial institution. Banks and credit card companies make a point not to request this type of information from you, so if you are asked for it, is quite likely, someone is trying to gain access to your personal information. You should only provide your private information on the phone or over the Internet when you have initiated the transaction and you are certain the intended party is the one receiving your credit card number.
Use a credit wisely and keep it as secure. You can take advantage of TechNet, technological advances and credit card security, but always remember their are dishonest people and hackers that are just as wise as the ones that create the security features in the first place.
