Credit card risk – Dos and Don’ts on Phones: 5 critical points to note if you don’t want to lose money
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(The Conversation) Credit card risk - Must Dos and Don'ts: Paying for things digitally is so common, most of us think nothing of swiping or tapping our credit card, or using mobile payments. While doing so is second nature, we may be more reluctant to provide card details over the phone. Merchants are allowed to ask us for credit card details over the phone – this is perfectly legal. But there are minimum standards they must comply with and safeguards to protect consumer data.
So is giving your credit card details over the phone any more risky than other transactions and how can you minimise the risks?
1. How is my credit card data protected?For a merchant to process card transactions, they are expected to comply with the Payment Card Industry Data Security Standard. This is a s...