Forensics analysts warn that credit and debit card frauds are frequent during the winter holidays. Many of us anticipate the holidays in excitement and few of us are concerned about credit card security.
Forensics analysts warn that credit and debit card frauds are frequent during the winter holidays. Many of us anticipate the holidays in excitement and few of us are concerned about credit card security. In the times where we open gifts, reunite with family members and enjoy the moments we share, criminals are always lurking behind our backs, trying to put their hands on our hard-earned money.
Credit card theft may result in an online spending spree that can leave us with a negative card balance. Stolen identities and security numbers put the control of our finances in fraudulent hands. During the peak of debit card deceptions, technologies offer quite an overwhelming opportunity to protect our money.
Mobile-based card controls eliminate the protection challenges and give customers the possibility to set spending limits and location restrictions. They make holiday shopping secure and on budget. These apps not only control who is purchasing items but also provide location-based settings, which means that your card can be used only when near your phone. The smartphone app verifies your location and the risks of credit cards being declined are significantly reduced. Moreover, if one’s card is stolen it can be disabled with just a few taps on the touchscreen.
U.S. Payments Forum reports that CNP frauds are the most common way of frauds around the globe. This is specifically true for countries that have moved over EVM. Having that in mind, it turns out that chip and pin cards are prone to hoax activities. Online shopping provides a lot of channels of fraudulent actions to culprits. This is why mobile apps let customers decide whether their cards can be used for online payments or not. Different settings range from requiring confirmation for every transaction to completely disabling online purchases.
Furthermore, users can set specific settings on their cards – in what stores they can be used or in what range of miles there are active. The customization nature of mobile-based card controls attracts customers to these types of cards and apps. Once your location and online settings are made, you can easily have control over your budget – set it, change it, delete it. Setting limits on your card prevents you from overspending and going into debt.
Using mobile card controls makes our holidays joyful and headache-free. Our money is secure, we control who spends it, where he spends it and how much is spent.