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There are many situations where you may be asked to provide your credit card information over the phone. You may be setting up a new internet or telephone service in your home and being asked to remove your deposit, or you may be making a massive purchase from a company that does not have an online payment system.
Whatever the reason, sharing your private credit card details over the phone can make you feel risky and even scarier. It is possible that card details can easily be obtained incorrectly when sharing card numbers, expiration dates, etc. What happens next is mostly out of your control. This is the heart of the problem.
Risk of paying by phone with credit card
The risk of paying for something with a credit card on your phone may vary depending on the situation. However, you can include:
- You can share your information. Sharing card details over the phone increases the risk of fraud. Your information can be published online, or shared with bad actors who can use your data by scams, phishing attempts, or even worse.
- Card details may not be protected. Even if your information is not intentionally shared, you don’t know where card details will be kept after use. Your information may not be kept in a safe place, so it can be the wrong move.
- Fraudulent purchases may appear in your account. If your credit card information is compromised, the criminal can use it to make fraudulent purchases with your account.
Getting a card payment over the phone is also dangerous for merchants.
Provide card details over the phone adds another layer of risk as a consumer, but a similar risk applies if the merchant agrees to accept card-free (CNP) payments. One big problem is the companies that think they are talking to cardholders when they are actually criminals. This is part of the reason why merchants pay more Swipe fee Accepts transactions without cards.
Considering this risk, and because they can’t see your card, merchants involved in telephone transactions may ask for a considerable number of things Card details When completing a transaction. For example, they might want to know:
- Your full credit card number
- Your name displayed on the card
- Card CVV (card verification value) or Security Code
- Card expiration date
- your Billing Address With postal code
- Your phone number
They may even request information on your driver’s license, such as your date of birth and license number.
Security standards for credit card transactions over the phone
Paying by phone with a credit card means not physically swipe your card, but these purchases are different from in-person and online purchases in other ways. First of all, you are doing business with human agents. This leads to some additional security concerns. Agents may intentionally or unintentionally compromise your data. It is also possible that a third party can intercept the data while you are making a call. Therefore, calls must be made constantly through a secure network.
The major card issuers have established the Security Standards Council for the Payment Card Industry, which maintains Data Security Standards (PCI DSS) that governs how merchants should handle customer card information received. PCI DSS also laid out methods to protect collected information Phone-based transactions.
The merchant says in the PCI standard. Do not keep CVV or other sensitive authentication data on your card After use (unless there are government regulations to replace PCI standards). Also, whenever possible, they should not store your full primary account number. If the full number needs to be stored, businesses should not store it without obtaining proper protection (such as making sure it cannot be read). You can save other inputs, such as your name and card expiration date.
Guidelines for recording phone calls during trading
The PCI standard also sets up some basic rules for managing the recording of non-card transactions. For example, merchants should not record any confidential details given over the phone. If a call is being recorded when dealing with an agent, you must pause the recording while collecting that input, as it may be a customer service purpose. This precaution can prevent third parties from accessing the recording and intercepting information.
If you are unable to pause a recording while providing confidential card information, the agent will need to delete that portion of the recording after the purchase is processed. If the information cannot be erased, merchants must implement appropriate security protections to prevent outsiders from searching and obtaining this sensitive information. For example, you can use extended encryption to keep your customer information and credit card details secure.
How to protect yourself
If you want to protect yourself from credit card fraud but sometimes you want to be able to purchase over the phone, there are steps you can take to increase your security. Think of the following tips to ensure that a card-free purchase does not cause problems.
- Make sure you handle a legitimate company. I don’t know if you can trust it. Check your company profile online, check sites like Better Business Bureau (BBB) and TrustPilot to read customer complaints and reviews.
- Do not provide card details for calls that did not start. A scammer may try to call you and trick you into providing details about your card to make a purchase over the phone. If you’re the person who called them in the first place, you’ll need to provide the card details to the companies you trust.
- uYou can use your credit card when paying over the phone, not a debit card.. Credit card offer Better fraud protection than debit cardsand the majority of cards offer $0 fraud liability protection. With this perk, if a criminal uses his card number to buy something over the phone or online, he will not hook for one dime in a fraudulent purchase.
- Get confirmation. If you are buying something over the phone with a credit card, you will want to know exactly how much you are being charged. From there you will need to write down the fee amount and confirmation number. Store this information in a safe place so that you can later check your card statement to make sure your fees are correct.
- Please monitor your account for fraudulent claims. It is important that your credit card account checks for fraudulent charges at least several times a month. If you see any suspicious activities, please report them to your card issuer immediately.
- Consider using identity theft protection services. In addition to signing up for account alerts from the publisher, Personal information theft protection service. These services will help us monitor your personal information and protect you from fraudulent activities. Many of them also provide identity theft insurance and other assistance if your information is stolen by a criminal.
Conclusion
With online and phone shopping becoming more popular, there has also been a dramatic increase in card-free transactions. Fortunately, credit cards are safer than ever, as the fraud liability protection offered is $0. This advantage means you are not in the hook for fraudulent transactions made on physical cards or card numbers.
Also, be aware that federal protection for credit card fraud is far better than you would get if you pay with a debit card. According to Federal Trade Commission (FTC)federal liability for fraudulent credit card transactions is kept at $50 for consumers.
