Credit cards make life easy. These days, completing a purchase is as simple as pulling out a card and tapping it on a payment terminal. Could it get any easier? Let’s not forget that, with credit cards, you’re assured to not lose your money. A lost credit card can be cancelled without any unauthorized charges being the responsibility of the cardholder. Then, of course, there’s online shopping. Credit cards are the go-to payment option for online purchases. Let’s discuss why!
Future purchases are made easy.
When you make a purchase on a website, you can have your credit card information automatically saved at the end of the transaction. This allows you to visit the site in future, make another purchase and not have to punch in your credit card information again. It’s an incredibly convenient way for shoppers to make purchases and for merchants to encourage repeat business. However, consumers are warned to be careful when saving their credit card information.
“Many sites will give you the option of saving your credit card information for future use,” notes Lyle Daly on Fool.com, “I’d be a hypocrite if I told you not to do it, as I’ve saved credit cards with certain trusted sites. However, if you’re going to do that, it’s even more vital that you keep your account with that site secure. That means setting up a strong password, and if you save that password on your computer, then your computer needs to be password-protected. After all, anyone who accesses your account could use your credit card once they got in, at least for purchases with that site.”
CVV numbers = fraud protection.
Your Card Verification Value or CVV number is a three-digit code found on the back of your credit card. As you’re likely aware, this is often requested by online merchants to verify identity and dissuade fraudulent transactions. By entering this code, a shopper ensures the online shop the card is in the possession of the purchaser.
Since the CVV is not embossed like the card number itself, the CVV is not printed on any receipts for your personal privacy. This is an anti-fraud measure that was introduced by credit card companies worldwide. It is required when any online payments are made to stop you from entering your Personal Identification Number (PIN) into online payment services.
Unauthorized charges can easily be disputed.
Credit cards can be stolen. As we mentioned, if they are used fraudulently, cardholders are not responsible to pay for the charges. During a worst-case scenario when a cardholder’s information is compromised, he/she is not held liable for any unauthorized spending.
“You can dispute those transactions to get them reversed, and during the dispute, those charges will be frozen, meaning they won’t affect your credit limit,” assures Daly.
Do you have your online store all set up?
At Divvia, we offer a secure e-commerce solution that enables you to easily and securely accept and process all credit cards from your website. To learn all about it, call us at 1-877-748-2884 or send us a message on our Contact Us page!
