The evolution of the payment systems from cash registers to e-wallets has made payment methods considerably easier. More than 40% of Visa payments are made by just a tap of a card. The demand for contactless payment methods is on the rise and merchants, as well as customers, are switching to these options for convenience. However, in the midst of all the ease, security is often at risk of being compromised.
Crimes pertaining to contactless payments have also spiked, along with the increase in demand. Therefore, it’s high time to look for preventative measures to avoid any mishap. Here are some effective ideas to save yourself from payment fraud.
Be Careful with Your Card:
Your credit card is one of the key elements for making e-payments and it’s one of the first things criminals will target. Neglecting the safety of your card can land you in serious trouble. According to a report, almost 60 million credit and debit cards were stolen in 2018 in the US.
Scammers can scan your card from your pocket while you’re standing in a subway or any other public transport. All they need is a card reader and they’re good to go. So the next time you travel using public transport, stay vigilant of your surroundings.
Get an RFID-Blocking Wallet:
Sometimes, you need extra protection and an RFID-blocking wallet gives you just that. They are a great way to avoid the skimming of your card in a public place.
An RFID-blocking wallet is a metal casing with separate folders to hold your cards. The metal doesn’t allow the card reader’s waves to contact your EMV card and acts as a protective shield.
Keep Your Digits Strong:
An easy PIN code is just as easy to crack. Experienced criminals know of the most commonly used PIN codes. Therefore, refrain from using a generic password. Avoid using similar passwords and PIN codes for cards, social media accounts, and mobile locks. Don’t use your personal information as a security verification code.
Keep Track of Your Payments:
Do you throw away payment receipts as soon as you get them? Or never checked a credit card statement in your life? This isn’t a good practice and should be avoided at all cost. Scammers often add an extra item or two on your list that you never bought but will be paying for.
Check your bank statements and payment receipts thoroughly to avoid theft and fraudulent activities. Ask for a refund if you find an unrecognized item in your purchase.
For maximum security and protection of your business, invest in secure payment processing solutions. Get in touch with UIC to explore a wide range of products ranging from semi-integrated payment devices to PIN pad payment devices and more.