Everyone is exposed to high risk credit card processing. The fraud syndicate does not select their victims by age, sex or nationality.
The most risky credit card processing are usually those transactions that are performed non face to face between the merchant and the credit cardholders. An example would the e-commerce or Internet transaction.
Cardholders are adequately protected
As a credit cardholder, you should not feel threaten or worry about high risk credit card processing too much. As long as you followed the credit card usage procedures set by the issuing banks, you are more than 90% protected. The card usage procedures and conditions are detailed in your card agreement with the issuing banks.
If you do not have one or have misplaced yours, you can always obtain another copy from the issuing banks easily.
Responsibility for Fraud
The banks that are responsible for all fraudulent transactions arise from your credit cards provided you have followed the card usage procedures are victimized by the fraud syndicate.
Most banks have highly sophisticated computer systems and fraud control procedures to defend against credit card frauds. Although these control and procedures could not eliminate fraudulent transactions totally but nevertheless it can keep them at minimal.
Is credit card safe?
From my experience, credit cards are safe for all consumers to use. The cards bring a lot of convenient and the financial world now is looking to plastic money as the future financial instrument.
Future Money
While many experts have also argued that mobile money is blooming aggressively and could overtake the credit card. My opinion is that mobile money is still in the infancy stage and need a lot more works and technology advancements to really compete especially in the areas of fraud control and security.
