With a growing number of transactions taking place online, credit card safety and security are essential in today’s connected world.
But with approximately 1.7 million Australians experiencing card fraud from 2021 to 20221, how can individuals help protect their financial information when shopping online?
Learn potential tips on credit card security before hitting the checkout button.
Is it safe to share a credit card number and CVV (card verification value) when shopping online in Australia? Online credit card payments, when done correctly, are generally safe.
Trusted and reputable merchants or service providers are commonly required to follow strict security protocols to protect data, including the Payment Card Industry Data Security Standard (PCI DSS).2
However, you should never share sensitive information in response to unsolicited emails or on suspicious websites. Scammers often use phishing tactics to trick individuals into revealing credit card details.
Here are some tips and strategies for credit card safety and security when shopping online:
Ensuring credit card security also applies to recurring transactions like subscription services. Depending on how many memberships someone has, charges can quickly add up and become difficult to track. Sometimes fraudulent or unauthorised transactions may even go undetected.
Consider these strategies when managing and updating credit card information for subscription payments:
There are several tactics individuals can use to help identify common credit card fraud red flags. Here are some examples of potential credit card fraud:
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