This is a good Technological innovation which VISA and Master Card have come up with to combat Internet Fraud. Some banks have enrolled for this service.
Whenever a customer of these banks does an Internet Transactions, the customer needs to input his Card Number, Expiry Date and CVV, and then in addition to that he needs to enter an additional parameter which is known only to the customer (and is not present on the Credit Card) such as Internet Banking Password (Citibank) or Date of Birth (HDFC / ICICI).
Hence somebody who has seen your card will not be able to do an Internet Transaction, unless he knows these details as well, so to a great extent the banks are successful in curbing Internet Fraud. It is advisable that you call up your Bank and get registered for this facility as soon as possible and use it in the future.
For any details or clarifications on Combating Credit Card Fraud, you can contact me on Ask.Pranav@Gmail.Com
Whenever a customer of these banks does an Internet Transactions, the customer needs to input his Card Number, Expiry Date and CVV, and then in addition to that he needs to enter an additional parameter which is known only to the customer (and is not present on the Credit Card) such as Internet Banking Password (Citibank) or Date of Birth (HDFC / ICICI).
Hence somebody who has seen your card will not be able to do an Internet Transaction, unless he knows these details as well, so to a great extent the banks are successful in curbing Internet Fraud. It is advisable that you call up your Bank and get registered for this facility as soon as possible and use it in the future.
For any details or clarifications on Combating Credit Card Fraud, you can contact me on Ask.Pranav@Gmail.Com
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