5 Essential Tips to Secure Your Online Credit Card Transaction (Part 2)

December 1, 2009 by  
Filed under Credit Card

Now, lets continue our last discussion about important tips for you when making online payment using your credit card.

2 – Integrity of the components of the transaction

It is vital that the transaction between two partners is not disputed in amount, date or place of execution. The integrity checks, which are also mechanisms for encryption, can ensure that a transaction could not be altered in the transport network, either by loss of binary information which would alter the original character, or maliciously.

3 – Privacy

Encryption techniques are designed to keep secret the contents of a transaction. The most commonly used protocols on the network (SSL, HTTPS, MIME) that allow privacy.

If it is timely for the content of an exchange or transaction, it has limited value for an act of payment. Indeed, if players want to unwind the transaction, it will always reveal the consumer to the merchant the purchase amount, the nature of the medium of payment, where payment can be collected, etc..

This is one of the great mistakes of electronic commerce that reminds consumers that their transactions are “safe” because they can not be “read” on the network.

However, most of the protection is not in the confidentiality of records of payment but in the retention of personal data (given that piracy is more information on current information stored on the information in transit from one consumer and a merchant).

It can undermine the very principle of authentication for reasons of anonymity purchases and payments.

This point is also very quickly became a paradox of trade on the Internet where data protection is an important subject of international debate. It was well illustrated by American cartoonist showing a dog behind a screen with the subtitle “On the net, nobody knows you’re a dog!” (Over the net, nobody knows you’re a dog “), illustrating the strength of anonymity of the new media.

It has been known that this is not with cookies and the prospects of one to one marketing. For payment, anonymity is inconceivable.

4 – Non-repudiation

As for payment, the term “repudiation” is abusive. It is better to speak of a dispute.

We must distinguish the challenge of payment to its finality. A payment can always be challenged and doubt is raised by providing evidence, but the law requires it is always binding if made by check or credit card.

Clearly, a consumer can always, good or bad faith dispute a payment or order. But if not satisfied with the order which is delivered (delayed, undelivered, Ill), it can provided “withdraw” his request for payment and his bank not to pay. It must be reported to the merchant, then it is a commercial dispute which treatment is part of no return.

The challenge of a payment should be made impossible for the officer by the implementation of appropriate encryption techniques.

5 – Terms of archiving

Archiving is essential: it serves to search and allows for example to provide evidence of payments in case of dispute. But it poses a real security problem. The biggest risk for a trader is not to protect data relating to a payment or not to insure their protection if they are treated by one third. It must therefore be attentive to the protection of sites and, in the case of outsourcing to a third party (bank service company), the contractual clauses on this point.

A collection of card numbers can be particularly attractive to a hacker. There are identifiers of cards in circulation and not opposing it can use, or disseminate (as was the case in 1999 with a major record retailer U.S. online, CD Universe).

The data stored by providers must be preserved and replicated, if possible in two separate locations. Data retention also meets the legal requirements of time consistent with the use of different means of payment.

5 Essential Tips to Secure Your Online Credit Card Transaction (Part 1)

November 5, 2009 by  
Filed under Credit Card

Electronic money and electronic payment orders must also be based on principles and safety devices adapted to the vectors that carry them (telephone networks, protocols, operating systems, terminals, maps).

Internet is a network “open” that was not designed to trade, which exposes the intrusion and is a fallible system. The security of payment transactions and is made randomly.

The definition of security principles is essential to the establishment of a payment solution confidence.

From a technical standpoint, we can apply these principles through the use of cryptography. Complex in their foundations, encryption techniques are, in practice, often invisible to users.

These techniques rely on mechanisms of encryption and decryption of messages exchanged on the network through protocols. These are algorithms.

They perform several functions that make a secure payment act.

1 – Authentication of exchange partners
The authentication exchange partners is the key to a secure system is also more complex to implement and more expensive. In addition to the function so widespread and less well protected in the payment solutions on the market.

This function is nevertheless essential because it allows:

– The consumer to ensure that the merchant does exist behind the brand that is posted on its web pages;

– The merchant is satisfied, or guaranteed by a certification authority, identity of the consumer who places an order.

The authentication of the parties used to provide evidence of an act, namely the act of payment. In the absence of authentication mechanisms, either party may deny having ever participated in the transaction. The spread of these situations conducive to potential bad faith, may destroy confidence in trade. That is why the authentication process is so important, particularly in the sale of services or intangibles.

To provide authentication of actors, we use different techniques that result in an electronic signature. Like the manual signature, it is intended to validate a document in correspondence with one who does. The most common of these techniques is the certificate.

Getting Insurance with Credit Card (Part 2)

July 25, 2009 by  
Filed under Credit Card

Today, we’re going to continue our discussion from Part 1, about how to get insurance protection with our credit card.

Conditions of application
As mentioned previously, the guarantees offered by credit cards apply in general from the possession thereof but subject to certain conditions. There are two types of guarantees, assistance and insurance. The first applies when the purchase of credit card, in case of illness or injury, death, legal action abroad and help the onward journey. The second applies when you set your travel services and other purchases related to it with your credit card, incidents of travel (delay planes, trains, luggage) and accidents Travel (death, disability). This can vary from one card to another.

Amount of medical expenses paid

The ceilings offered by credit cards are insignificant compared to medical expenses that may be incurred in certain foreign countries like the USA, so it is strongly advised to take out additional insurance. Your medical expenses will be reimbursed up to a ceiling of 11,000 € for Visa and Mastercard in addition with a deductible of € 50 for one and € 75 for the other. Prime Visa has a higher ceiling (155,000 €) with a deductible of 50 €. The Amex has a maximum refund of € 9200. For example, with a deductible of 50 €, so consulting a doctor will cost 60 €, you will be reimbursed between 0 and 10 € with your credit card.

Welfare assistance

Generally, the guarantees offered by different credit cards cover virtually the same benefits:
• The management of travel expenses and hotel for a family member in case of hospitalization of the insured more than 10 days (Visa Premier “125 € / day for 10 days up to 375 € Over “Platinum MasterCard” 250 € / day for 10 days to 750 € above). NAMELY: with supplemental health insurance, there are no ceilings.
• Repatriation and assistance to their home or place of hospitalization of children under 15 years.
• The early return in case of hospitalization over 24 hours or death of a loved one (support for return ticket).
• The shipment of drugs.
• Repatriation of body in case of death during the stay.
• Legal assistance abroad.

Travel cancellation insurance

The cancellation of travel is generally not offered with the cards ‘standards’. Prime Visa offers this guarantee capped at € 5,000 with a rebate of € 200 per insured person if cancellation is made 30 days before departure. The cancellation fees are paid by the Amex Gold and Platinum in the amount of 4500 € to 10.000 € per insured per year. The “Platinum MasterCard” reimburse up to a ceiling of 10,000 €.

Warranty flight delay or baggage

Cards “standards” do not usually compensate for the costs of basic necessities when your plane or your luggage is delayed. The Prime Visa offers 250 € from 4 hours of delay per trip. The Amex compensate you 150 € ( “Personal Card”) and 800 € (Platinum) for baggage delay, and between 100 € and 200 € for late planes. Insurance for the delay Mastercards cover the cost of 250 € (Gold) and 500 € (Platinum).

Stolen or damaged baggage

The standard cards do not compensate. Prime Visa card covers you up to 800 € per bag with a deductible of 70 €. The map “Platinum” Amex guaranteed personal effects in case of theft, loss or damage up to € 2,000 per trip. For Card Platinum MasterCard, the limit is 3200 € per year.


You are not covered with standard cards. Visa Prime Platinum MasterCard and you cover up to 1.525.000 € per event for all damage and injury caused to third parties. The Amex Platinum card covers you up to € 2,000,000 for property damage and injuries caused to others while traveling.
Remember that if there is an accident, 1.5 million € in some countries like the United States depart quickly between medical expenses, legal fees etc ….

The death or disability

The application of this guarantee is generally subject to the use of your card to buy your ticket. The accident causing death or disability must have occurred during the trip to be a trip “guaranteed” by the insurer (check out the conditions applying to each card). It can be a journey by public transport or hire cars. MasterCard will pay up to € 95,000 (public transport) and 46,000 € (rental car). Visa Premier or Gold MasterCard pay for death or disability up to 310.000 € per family per event .. The Amex Gold Card and Platinum Mastercard cover respectively to 300.000 € and 620.000 € per family per occurrence.

Specific guarantees

To receive these benefits, you must agree in general with supplementary insurance.

Getting Insurance with Credit Card (Part 1)

July 4, 2009 by  
Filed under Credit Card, Insurances

Insurance with your credit card (Visa, Mastercard, American Express) are more like contracts to help you attend to incidents, for a short time without providing health insurance coverage and very important in any case if you stay more than 3 consecutive months in the United States.

If you want to be well covered, we recommend you use them in conjunction with a specific insurance. Without going into too much detail, we will outline the services offered.

The main services via your credit card

Warning: This analysis is not exhaustive and has no legal value. Moreover, certain safeguards have been updated by the banking institutions but not yet integrated in our presentation. We recommend you always contact your bank for details of your cover.

Persons insured

It is usually the cardholder, spouse or partner, dependent children for tax under the age of 25 years and ascending and descending. A note on Visa cards that the spouse and dependent children are covered even if not accompanied by the cardholder. As for the MasterCard “standard” including the family of the owner must accompany order to receive the benefit.

Territorial Extent of coverage

For Visa “standards” and “first”, you will be covered worldwide, without excess mileage for your business or private stay in your country of residence (if you are a resident French: metropolitan France including Corsica, Monaco, Andorra, DOM TOM and COM) or outside your country of residence for the security assistance. Regarding the insurance guarantee, it applies to more than 100 km from home or place of work. For cards Mastercard and American Express, assistance does not require franchise mileage, except for the “Gold Amex with which you are covered until 50 Km to you for the assistance of your vehicle, the medical assistance and repatriation expenses, and 100 km from your home in the world to guarantee the rental vehicle.

Length of Coverage

Guarantees of credit card take effect on the date of purchase (under certain conditions) on these cards throughout the duration of them until termination or automatic renewal by the licensee in the country of residence. When traveling abroad, secured assistance apply the first 90 days of stay. This condition can vary from one card to another depending on the type of coverage (insurance or assistance) if the stay is to last longer for specific reasons (death, disability due to an accident during the stay) for the “Visa First, the insurance guarantees apply the first 180 days of stay. Caution: If your stay exceeds 3 months your credit card “standard” will not cover you.

How to Make Secure Online Payment with Credit Card

April 5, 2009 by  
Filed under Credit Card, Financial Tips

Making certain provisions and the use of selected technologies should be able to facilitate obtaining loans from banks.

The fundamental element in the granting of credit is confidence. Whether a bank or an individual person can not lend money if there is no minimum pre-established trust between them. But the business of banking or finance in general, requires caution in making funds available to potential applicants. The money which the bank manages does not belong to this agent. Therefore eligible for a loan, the borrower’s reputation will precede it in its approach. Details such as the state criminal history are taken into account.

Also, if the borrower has already been in trouble with an agency of the same banking network, the flow of information to help, ask the banker he denied this request.

The company or person wishes to seek a chi credit must therefore ensure that its reputation is not tarnished.

How to tame the distrust of banks?

Many people have bankable projects under the arms, but unfortunately have a phobia for financial institutions. Banks are still perceived as reserved vis-à-vis a certain class of society.

In addition, the rigor with which justified analysts bankers treat the files merely reinforce psychosis populations in need financing. “The bankers never grant free credit. They are quite quick to collect money from households “hears.

In reality, it is in the household saving it mobilizes the banks provide loans. This constitutes the basis of its existence.

How then to get the financial institution that gives you easy credit?

The trick is to produce the bank a profitable investment project which will minimize the risk and recover the loan on time. The results of most banks despite the crisis, show that they are very liquid.

It is therefore an appropriate time for any investor to overcome fear and break down some prejudices to lead the offensive that will get funding. All financial institutions are waiting for that.