New Credit Card Feature Prevents Fraud
December 28, 2015
December is lauded as the most wonderful time due to that warm, fuzzy feeling and also because retail chains across the world will be operating in the black at the end of the year. Online shopping has shown record sales this year, especially since shoppers do not want to deal with crowds and limited stock. Shopping online allows them to shop from the convenience of their homes, have items delivered to their front door, and find great deals. Retail chains are not the only ones who love the holidays. Cyber criminals also enjoy this season, because people are less concerned with their persona information. Credit card and bank account numbers are tossed around without regard, creating ample game for identity theft.
While credit card companies have created more ways to protect consumers, such as the new microchip in cards, third party security companies have also created ways to protect consumers. Tender Armor is a security company with a simple and brilliant fraud prevention solution.
On the back of every credit card is a security code that is meant to protect the consumer, but it has its drawbacks. Tender Armor created a CVVPlus service that operates on the same principle as the security code, except of having the same code, it rotates on daily basis. Without the daily code, the credit card is useless. If a thief gets a hold of your personal information, Tender Armor’s CVVPlus immediately notifies you to take action. It is ingenious in its simplicity.
In order to use Tender Armor, you must pay for an additional service on your credit card. With the increased risk in identity theft, it is worth the extra few bucks.