The Rbi guidelines have made mandatory for Credit Card companies to create a new set of security for Online transactions from Aug 1.
This step ensures a customer who holds up a credit card has to go to his bank website and register himself for an online pin.Once the customer is registered he gets a pin for himself and whenever he uses his card next online, he has to use that pin after he has put his card number and cvv etc.
This is one more step and ensures the card transactions online are more secure.
All the banks on there website have links to secure the pin plus mastercard and visa also have the links to get this pin.
Till 10 th aug , only 20-25% people have registered for online pin and that has made online transaction drop drastically.
Both Card issuers and Banks are advertising to make sure customers gets there pin and ensure more spends on Credit Cards.
If you are a Credit Card holder, please get your Pin and ensure that whenever you wanna do some online transaction, you have it with you.
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