Commerce and technology, combined as a one package –
this is what online credit cards are. With the advent of internet,
the knowledge and communication barriers were broken. Also,
with internet, came the concept of e-shops or virtual shops
that existed only on the internet. You could shop at these
shops by making use of their online credit card payment-acceptance
ability. Once the online credit card payments were verified
and approved, the goods got delivered to your door. This is
what we call convenience at its best.
With more and more e-shops getting setup everyday, online
credit card usage is becoming even more popular. The possibility
of receiving online credit card payments has given a totally
new dimension to shopping. Now, you can not only shop from
the comfort of your home, you can even get discounts on these
products. This is really amazing. No need to bother about
the weather, no need to worry about the traffic jams or any
other thing. Just go to an e-shop, select a product, make
use of their online credit card payment-acceptance facility
to make the payment and be ready to receive the goods at your
doorstep.
With online credit card processing facility, starting a business
(an online business) has become just unbelievably easy.
However, there is nothing without pitfalls. One of the pitfalls
of online credit card usage is the possibility of online credit
card fraud. This online credit card fraud can happen in two
ways. The first one is related to the company, on whose website
you made online credit card payment for purchase of goods;
this company itself could be fraudulent i.e. it could take
the online credit card payment from you but not deliver the
goods to you. Moreover, they could use the details of your
credit card (received through the filling up of online credit
card payment form by you) for fraudulent purposes. The second type
of fraud is committed by fraudsters who use various softwares/devices
to capture the details of online credit card payments (as
you enter them on the online credit card payment form of a
website). These softwares are popularly known as spyware and
these fraudsters as online spies. The spyware works by capturing
keystrokes or taking screenshots of whatever you do on your
computer and then passes it on to the spy. However, there
are anti-spyware softwares available which can be used to
counter such spyware.
So, the advent of online credit card usage facility is a boon
to us. However, you must exercise caution when making online
credit card payments e.g. don’t access your bank accounts
or make online credit card payments from internet cafes (unless
you are absolutely sure about the credentials of the internet
café).
Sandra Stammberger is the owner of Money Management
Center. A guide to credit cards, budgeting, and credit use.
For more information visit http://www.money-management-center.com/
