Paying for goods and services digitally has become a routine part of our lives, but when it comes to providing card details over the phone, many of us may hesitate. While it is legal for merchants to request credit card information over the phone, there are certain standards and safeguards in place to protect consumer data.
Merchants are required to comply with the Payment Card Industry Data Security Standard, which sets security requirements to safeguard cardholder data and the trillions of dollars in transactions that occur each year. This includes measures such as encryption and access controls to prevent unauthorized access to stored information. Even if the data is stolen, encryption ensures that it cannot be read and used by criminals. Access controls ensure that only authorized individuals have access to cardholder data.
However, while compliance with these standards is expected for all companies processing cards, only those handling large volumes are subject to mandatory regular audits. If a compliance failure is found to be the cause of a data leak or misuse, companies can face substantial penalties. It is important for companies to have policies in place to protect payment card data from unauthorized viewing, copying, or scanning, especially on desks where it may be easily accessible.
Although these measures help protect card data, there are still risks, such as the possibility of misplaced details or dealing with imposters over the phone. To minimize the chance of fraud or data leakage, there are several steps you can take when providing card details over the phone:
1. Verify the caller: If you did not initiate the call, hang up and contact the company directly using verified contact information. Scammers often pretend to be well-known companies and try to convince you to make a payment or provide card details.
2. Be skeptical: If a deal sounds too good to be true or if you have concerns about the person you’re dealing with, hang up. You can always call back later if the caller turns out to be legitimate.
3. Use secure payment methods: If you have previously paid the company using a more secure method, ask to use that same method.
4. Keep records: Record details of the company, the representative you spoke to, and the amount being charged. Ask for an order or transaction reference and request a receipt. Check the transaction against your card to ensure it matches the receipt.
If you suspect that your card details have been compromised or stolen, it is important to take quick action:
– Contact your bank to block the card and prevent further unauthorized transactions.
– Report the issue to the police or relevant authorities.
– Monitor your account for any unusual transactions.
– Explore card settings in your banking app or website to limit transactions, restrict transaction types, or enable alerts.
– Consider registering for credit monitoring services and enabling fraud alerts.
To minimize risk, it is best to avoid providing card details over the phone if possible. Using secure online payment methods or virtual cards can offer additional protection. Virtual cards allow you to cancel a specific card identity if any issues arise, rather than having to cancel your entire card.
In conclusion, while providing card details over the phone may carry some risks, following these tips can help minimize those risks and protect your card data.
