In this day and age, people mostly use credit cards instead of cash or checks. It has become a vital part of our everyday lives. We use it to pay our groceries, bills, when we eat out at restaurants, and even paying for school fees. Having a credit card makes life easier. Having a merchant account for your business and employing the use of credit card processing services has increased sales of small scale businesses. It is very important, both for consumers and businessmen.
You might be enjoying shopping online or eating at this new, trendy restaurant you heard about; giving your credit card to pay for your purchases has become second nature. But when you get your credit card statement you were surprised that you racked up a large bill but without the merchandise.According to Federal Reserve, 72% of buyers have at least one credit card. Another statistic from nasdaq.com reports that the United States was responsible for 47% of the total card fraud in the whole world in 2015. Identity theft and card fraud is more common than you think. So how will you keep your credit card information safe, especially when doing online shopping? Here are some tips and guidelines.
Double Check URLs
Online hackers and spammers are experts at what they do. They can replicate websites to make them look like the real thing. An unobservant person won’t even see the differences. This is one of the most common methods of having your information stolen. You have to be sure that the website you are entering and putting your information in is legitimate. So how will you know if the website you are entering is safe? Here are some tips to follow:
- If you have the time, you can call the contact information on the website to see if you will get an answer. If the number is not yet in service or there is no answer during business hours, there is a high likelihood that the site is a fraud.
- An easier method would be to check the address bar. Safe and legitimate sites are most of the time, verified by Google. It will have an https before the site name. If it is not verified, then it would be better to stay away from that site. You can also use Google to do a safety report on the site you want to shop from. Don’t go to sites that are included in emails you receive.
- Check who the owner of the site is. You can do this by doing a Who Is lookup. The site is easily searchable with Google or any other search engines. Check the owner and origin of the site. If the site is less than a year old, it is most likely to be fake.
- Check grammar. Sometimes even the best scammers can overlook the simple spelling and grammar of their web content. A wrong grammar and spelling is a dead giveaway that the site is fake. So you should really stay away from it.
Use Trusted Credit Card Processing Companies
If you are a buyer, you should stick with trusted issuing banks. Go for banks that take security of their customers seriously. Pick a bank that has amazing customer service so you know you will get help in case a security problem arises. Another would be to buy only from merchants that you have tried and tested. These vendors will treat you well and you know that they are legitimate based on experience. If you want to know more about a certain vendor then look them up and search for online reviews. The users’ opinions will tell you if the vendor is to be trusted and won’t engage with fraudulent transactions.
If you are a merchant, it is best that you choose merchant accounts from trusted merchant banks too. And because you are engaging in online business, accepting credit cards is a must have. Only engage with the best credit card processing services available. This will be the company that will be in charge of the processing of all the credit cards that will go your way. So it is important that you pick one that is trustworthy. If you want to know more about credit card processors, you should also look up reviews of credit card processing companies. This will give you an idea which of the companies will treat you well and help you along the way.
Don’t Go Wireless
Public Wi-Fi is available everywhere you go. It is offered in restaurants, libraries, airports and even the local park. If you have no connection at home, then it is easy to still be connected. Just go out and look for a free Wi-Fi connection. But there are lots of dangers when using public Wi-Fi. According to Norton, it is easier for identity thieves to steal information and track your online activities if you are connected to a public Wi-Fi. Even if you access encrypted sites, it is still easy for them to steal your information. You wouldn’t even know if your information has already been stolen. If you really have no choice and have to connect to a public Wi-Fi, here are some tips to stay safe when using a public connection.
- Be wary of the sites that you visit. As much as possible don’t do online banking when connected to a public wireless internet connection. Don’t go to sites that will require you to log-in with a username and a password. Save these types of sites for a more private connection.
- Use a virtual private network or VPN. This type of network was created to try to make your online activities on a public connection private. VPNs can make you invisible to possible thieves even while in a public connection.
- Be careful of your surroundings. At the risk of being paranoid, look around you and make sure no one is looking over your shoulder trying to see what you are doing on the internet. It is better to be paranoid that saddled with a big bill because your credit card information was stolen.
Only Give Out Needed Information
Online shops usually only need four information and that is your credit card number, expiration date, security code and shipping address. If they are asking for more, then you should ask yourself if the site is really legitimate. Credit card processing companies have no need for more information from you. Asking you for more sensitive information like your personal identification number is a big red flag. Don’t engage in sites that are asking you for more information than is necessary.
If you receive an email asking for your credit card number or other information, don’t reply and immediately discard the email. Online shops will not require you to send your information through your email because if there is a problem, you should return to the website or better give the company a call. Remember that no site will request information from customers through the use of an email.
If you want to contact an online store, use the contact information in their website and not the ones included in their email. It is safer if you get your information from the site itself rather than emails that might as well be spams. Credit card processing is a tricky business and you should only transact with verified merchants.
Don’t Store Card Information
Storing your credit card information on the website is a risk factor for your information getting stolen. Information on sites is more vulnerable to attacks. Even if the site has top notch security, there is still a possibility of a cyber-attack. To be on the safe side, you should never store credit card information on any site. Another reason is that, leaving your information on the site will give access to it to anyone who uses your computer. If your children have access to your computer then there is a possibility of them using your card to purchase stuff online. You wouldn’t know what they bought until it’s too late and the transaction is already on your credit card statement. The credit card processing system is easy to use and you don’t want anyone to have access to it unless they have your permission.
No Debit Cards
If you become a victim of identity theft and fraud using a debit card, the money on your card will be immediately stolen. It is easier to steal money from a debit card than a credit card and there is a different set of laws governing the two cards. Customers are more protected when they use credit cards rather than debit cards. So, for online shopping, it is safer to use the former rather than the latter.
If you are a merchant, you can still accept debit cards but credit cards are more common. Depending on your processor, not all debit cards can be accepted. When choosing the top credit card processors be sure to read credit card processing service reviews.
Use of credit cards can be very convenient but also poses risks and dangers. You can still be safe by following the tips and guidelines mentioned above when using your credit card especially when shopping online.
If you want to know the best credit card processing company for your business. Head on to CrowdReviews and read the users’ opinions.
John Tovar
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