Internet Security

Why Internet Security is Better Than Store Security

Many people assume that physically handing their credit card to a store clerk or cashier is the safest way to conduct transactions. Consider, however, how many people may physically handle your credit card information during a simple restaurant transaction:

• The server removes the card from your table and takes it out of your sight to process the payment.
• A separate cashier may be the actual person to ring up the payment.
• After you have signed the slip (which may have your credit card number printed on it), it will be put into a till that many cashiers have access to.
• A manager will be responsible for checking all slips and receipts when the till is emptied.

Even if the number of people seeing your credit card information is limited as much as possible, there are still many different people who have access to it for each transaction, not to mention other staff members who may be able to see it while it is sitting in the till, waiting to be processed, or after it has been accounted for.

An internet transaction, on the other hand, has much better security. No one physically sees your card and cannot, therefore, make a copy or emulate your signature. Once you have entered the information into an online payment form, it is carefully encrypted and sent to the appropriate server for processing – again, no human is necessarily viewing it. Larger companies may even store the information on secure servers that cannot be accessed from modems or other external connections, which guarantees that hackers cannot find your information. Because the information is transmitted so quickly, it is highly unlikely that anyone would be able to learn all the details – full credit card number, expiration date, and security code – necessary to commit any type of credit card fraud online.

Security Features

Most credit cards come with special features designed to guarantee internet security. The security code (found on the back of most cards) is a precaution designed especially for the internet – this 3- or 4-digit number is only needed for online transactions. Anyone who does obtain a copy of your credit card number but who does not know this code will be unable to complete most online transactions.

Some credit card companies, such as Citibank, also offer virtual account numbers for online transactions. This unique security feature is actually a randomly generated number you request from the credit card company that is then assigned to a particular merchant or transaction. When you make a purchase, you enter the virtual account number instead of your real credit card number, and the payment is processed with that anonymity. A different virtual account number is used for each merchant, guaranteeing that even if someone did gain access to your information from one website, they would not be able to use it elsewhere.

To guarantee internet security, most credit cards also offer fraud protection so that cardholders are not liable for purchases made without their consent. The conditions and limitations of this protection vary for each type of card, however, and consumers should investigate which card would be best for their internet transactions before shopping online.

Protecting Your Internet Security

There are many ways you can protect the security of your credit card information online in addition to standard card features. For the best security and peace of mind, consider the following tips:

• Require that all shipments be made to the billing address of the card. This will prevent someone from using your card to ship fraudulent purchases elsewhere.
• Carefully investigate an online store’s security policies before processing a transaction. An invalid or expired security certificate or lack of security explanation is a red flag for a potentially dangerous transaction.
• Choose to call in your order information to the customer service center rather than process the transaction online. There may be a small fee for this service, but it is well worth it for added security when necessary.
• Designate only one card for online transactions to minimize electronic exposure.
• Install strong firewall and anti-virus software and keep it updated to prevent anyone from hacking into your computer.
• Change your passwords to online accounts regularly and do not use the same password for multiple accounts.
• Keep detailed records about online transactions and compare them to your monthly statements to catch suspicious charges immediately.
• Check your credit report regularly to be on the alert for accounts you never opened.
• Do not shop or make online payments from public computers or any computer other than your own.
• Opt to be billed later for online purchases if possible, and then call in the payment or mail a check instead of exposing credit card information.

Credit cards are protected with superior internet security, and there are many ways consumers can protect their information through savvy shopping and personal protection. By carefully guarding credit card information, potential fraud and scams can be easily avoided.

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