Tips to Keep Your Card Processed Payments Safe
There have been various breaches on consumer data and while these have been dealt with well, there are still many challenges to overcome. In fact, some security weaknesses related to these breaches have not been disclosed. This is partly because the appropriate security measures that are breach-proof have not yet been determined. While security experts in the credit card processing industry are still looking for ways to better security, you should also take personal measures to limit chances of breaches. Here is a small list of ideas on what you can do to improve the security of your personal data and finances.
Use Credit Cards Always if You Can
If you are making payments on POS machines that accept credit cards use the credit cards instead of using your debit cards. The debit cards lack a protection similar to that on credit cards, and therefore; using your credit card is safer. Secondly, the window period of reporting suspicious transactions on debit cards is shorter than that given for credit cards.
Sign Instead of Entering Your Pin
If you are at the credit card terminal it is prudent to sign instead of entering your pin at the POS because thus reduces the chances of data thieves from getting you pin and information, which they can use to create a cloned card to empty your account.
Regularly Monitor Statement
Payment processing from North American Bancard updates your data almost instantaneously. As such, it is prudent to keep a constant watch over your account by requesting and looking through the statement details. Constant checking enables you to promptly report any suspicious activity and allow fast responses from your merchant account service provider.
Avoid Enabling Automated Transfers
Virtually all banks give you the option of linking your credit line and savings account to your checking account in a manner that allows automated fund transfers. In some cases if funds get exhausted then an overdraft is triggered. If thieves hit your account, they could not only empty it, but also create some debt. It is thus wise to disable such automatic transfer permissions. Check out http://money.cnn.com/2016/05/11/news/companies/walmart-sues-visa-chip-card/ for more info about credit card processing.
Set Up Better Passwords and Prompt Account Alerts
Do not use a common password or username for all your online activities because a breach on any one of your accounts could be a problem for all accounts related to your funds and accept credit cards payment processing. You could also improve your passwords by ensuring that they are made of alphabetic and numeric characters as well as special characters to make them complex. Finally, set up regular alerts on transaction activities so as to get updates by text or e-mail so as to know about any transactions when they occur.