Online transactions made on Indian websites require you to input a secure PIN as the final authentication to the transaction, after you input details like your name, card number and CVV number. This is a recent move by RBI to enhance the safety of the transaction. However, transactions on international websites do not make this additional layer of safety mandatory. As a result, if someone knows all the details of your card other than the secure PIN, he can still use it on international websites.
My signature at the back of the card is not very critical:
The signature at the back of the card is often not given the importance it deserves. Many people ignore signing at the back of the card, thinking that it is not very critical. However, remember that if a credit card does not have a signature at the back, it is simply an invalid card. The card issuer and the merchant get into an agreement, which specifies that every time the merchant swipes a card, he is supposed to check the signature at the back of the card vis-à-vis the signature on the bill. Only if the two signatures match, the merchant should accept the card. However, most merchants conveniently ignore this aspect. As a result, the user also does not understand its importance. As long as you have your card, this matter does not become significant. But assume you lose your unsigned credit card, and it gets used in a merchant outlet. It simply means that the person who has stolen your card has signed at the back of the card and has used it. In this case, the merchant also cannot be blamed. On the other hand, if you lose a credit card you have already signed, and if it still gets swiped by a merchant, you can demand for a comparison of the signatures, and refuse to pay the amount, as the merchant would not have done a signature comparison. Hence it is very important to sign at the back of the card.
The credit card is a very powerful financial innovation, which if