Why Your Credit Card Can Put You At Risk Online?

If the check is the most fraudulent means of payment in France, the bank card is not far behind. The technique known as phishing (or “phishing”) is one of the most unfortunately popular on the Internet. However, there are solutions to protect against it.

Every year, the Payment Methods Security Observatory publishes a report on the evolution of behavior in France. In 2021, the bank card further strengthened its position as the main means of payment in terms of the number of transactions: the latter represents no less than 61% of all transactions in France.

In the exchanged amounts, the BQ is thus established immediately after the transfer and direct debit between cashless payment solutions. This is also the first year in which the volumes exchanged with the bank card exceed those made with checks.

If checks are still very popular with fraudsters, credit cards still represent 34% of all means of payment fraud. In 2021, the Observatory is pleased to see the rate of online card fraud decline thanks to the strong authentication now found on most e-commerce sites. The latter makes it possible to have a double check upstream of a transaction (for example via a code sent by SMS). As a result of this security measure, fraud has dropped by 20% online.

That said, the bank card is always at risk. Indeed, all it takes for a hacker to get hold of a corrupted e-commerce site database (without encryption) is for your bank details to be in the wild. Exactly, 78% of credit card fraud is related to card number theft. The second reason is none other than lost or stolen cards, and this represents only 18% of fraud.

Credit card available

It is therefore necessary to know how to take precautions when making an online credit card payment. We find the ultimate level of protection virtual and temporary bank card. equally called “disposable credit card”, this allows you to generate unique codes to complete a transaction. That way, even if a hacker gets hold of an e-tailer’s database, your code will no longer be reusable.

In France, traditional banks have not yet started. This solution is offered by some digital-oriented service providers, such as Revolut. Specifically, from the fintech mobile app, you can generate a credit card code instantly. This can be used for a transaction, after which you destroy the card. You can also choose to block it or use it for a few transactions before disabling it completely.

Discover the Revolut card

Therefore, the transit bank card is the ideal solution for making an online payment: it is also compatible with two-factor authentication. For example, if your Revolut account is required for confirmation (via SMS or the app), you will also receive the notification with your available card. These codes are for one-time use and are linked directly to your main Revolut account.

CB Revolut
© Journal du Geek

You can also very well use a transitory virtual card for physical payments. If you have any doubts about a payment terminal, for example, you can use your Revolut card via Apple Pay (or Google Pay). Right after that, you just need to disable it so that you don’t see your bank details fly into the wild.

Except revolution in, this solution is not yet democratized among payment services in France. Traditional banks have not adopted this method, online banking nor – and N26 has not yet taken the plunge. If some institutions have created the “virtual bank card” system (which allows them to sign up for Apple Pay or Google Pay without having a physical card), the available card has not yet made its slot. And yet, it’s the safest way to pay for online purchases.

As Christmas approaches, the Banque de France warns of fraud – which always increases around the holidays and during Black Friday. “With the start of the school year, these are the two highest points for us in terms of fraud,” explained Julien Lasalle, secretary of the Observatory at the Banque de France, during a press conference.

Discover the Revolut card

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