Today, the financial landscape is fast-paced. Credit cards have become essential for managing expenses and online transactions. However, the convenience that comes with credit cards also needs robust security measures to tackle fraudulent and unauthorised access. This article explores the top ten security features of credit cards, empowering users to make informed choices.

Ensure financial peace with IndusInd Bank Credit Cards

IndusInd Bank credit cards ensure a secure banking experience, offering features like 256-bit SSL technology for online transactions, chip-based contactless payments, and purchase protection. The ‘Total Protect’ program provides insurance coverage against fraud and unauthorized transactions up to the card’s credit limit. In addition to the various benefits offered, the application process is completely digital. These features collectively ensure customers can confidently use IndusInd Bank credit cards.

Top 10 credit card security features that enhance card security

1. EMV chip technology

EMV technology stands for Europay, MasterCard, and Visa. It is a significant leap forward in terms of credit card security. IndusInd credit cards also use this technology. EMV enhances security by providing you protection against fraudulent and unauthorized transactions. The EMV chip is a small yet powerful microprocessor integrated into credit cards.

Unlike its predecessor, the magnetic stripe card, which stores static and unchanging data, the EMV chip generates a dynamic and unique code for each transaction. This unique code is the linchpin of EMV’s security prowess. It acts as a safeguard against one of the most pervasive threats in finance: card counterfeiting. With traditional magnetic stripe cards, it was easy for cybercriminals to copy card data and manufacture counterfeit cards, posing a significant risk to cardholders and financial institutions. However, the EMV chip’s unique code changes with every transaction, making cloned cards useless to fraudsters.

The EMV chip adds a layer of complexity. Even if someone manages to intercept the code from one transaction, it would be worthless for any subsequent unauthorised use. This advanced technology not only protects consumers but also provides a boost to the overall security of the payment ecosystem.

2. Contactless payment

Contactless payments have experienced a surge in popularity. They give you a seamless experience along with robust security measures. IndusInd credit cards also allow contactless payments. This payment method enables a secure connection between your card and the payment terminal via near-field communication (NFC) technology. Encryption protocols ensure the confidentiality of payment details. Since physical card usage is decreased, it also reduces the risk of card theft, providing you with added security. With contactless payments, you can enjoy efficiency and security. IndusInd Bank credit cards also offer these features, making them a preferred choice.

3. PIN (Personal Identification Number)

A Personal Identification Number (PIN) is a vital security feature that enhances the safety of your financial transactions. You are required to choose the PIN for your card which is confidential and exclusive to you. It acts as your digital fingerprint that validates your identity before transactions. Since a PIN cannot be copied easily, it protects your credit card from fraudulent purchases or access to funds. If your card is lost or stolen, the PIN protects it from unauthorised purchases.

4. CVV (Card Verification Value)

The CVV is a three-digit code located at the back of credit cards. It is used primarily for online and phone transactions for verification purposes. You need to have the physical card with you for transactions as the CVV is printed on the card. This way, your card is secure from unauthorised use.

5. Two-factor authentication (2FA)

IndusInd Bank credit cards offer two-factor authentication (2FA) for online transactions. This involves an additional verification step after logging in. As soon as you log in with your user ID and password, you will get a one-time PIN (OTP) on your registered mobile or email. You need to enter this code to finalise the sign-in or transaction. This way the 2FA ensures that the transaction is being done by the accountholder.

6. Transaction alerts

As an IndusInd Bank credit card user, you will receive real-time alerts via text message and email for every transaction on your credit card. These alerts enable you to track and report any unauthorised or suspicious activities, preventing further fraudulent transactions.

7. Transaction preferences

All IndusInd Bank credit cards provide you with the control to manage your transaction preferences. You can choose how you want to use your card. You can enable or disable preferences such as domestic transactions and international transactions. For example, if you do not want to use your credit card for international online transactions, you can disable this simply via SMS or through the IndusMobile App. This feature gives you complete control over how your credit card is used, making transactions more secure. You can also block/unblock your credit card to protect it from unauthorised use.

8. Transaction limits

IndusInd Bank allows you to fix and modify transaction limits on your credit card, through its app/online portal.  You can set limits for online transactions, point-of-sale purchases, contactless transactions, and ATM withdrawals. Setting transaction limits prevents fraudulent transactions, as the transactions get rejected once they exceed the limit set by you. 

9. Virtual Card

Virtual cards are temporary credit cards similar to physical credit cards. They come with a temporary 16-digit number, expiry date and CVV number. What differentiates these cards from physical credit cards is that they can only be used for online transactions.

Virtual cards are safe because:

1. These cards are temporary and become invalid automatically after a certain number of transactions.
2. A few of these cards are single-use virtual credit cards that become invalid in case of a data breach. 
3. You can cancel a virtual credit card easily which prevents fraudulent use of the card.

IndusInd Bank has introduced the ‘Virtual Commercial Card’ in collaboration with Visa and Juspay. This credit card has been designed to transform cross-border transactions for corporations and travel agents. It offers enhanced security features, allowing you to set unique parameters for each transaction and gives you complete control over international expenses. Each virtual card has customised transaction limits and expiry dates. The Virtual Commercial Card allows you to generate virtual cards in foreign currencies, thereby protecting your primary card number and ensuring maximum security.

10. Total Protect

IndusInd Bank offers insurance coverage in cases of unauthorised transactions due to card loss or theft. The bank provides protection starting 48 hours before reporting the loss to the bank. Also, the bank offers insurance against counterfeit fraud, safeguarding customers from misuse of their card or card details. Total Protect covers you for an amount equivalent to the limit on your credit card. This protection is valid for your add-on cards too.

Conclusion

In a world of digital transactions, credit card security is paramount. From EMV chips to biometric authentication, modern technological features offer protection against various cyber threats. With the use of PINs, CVVs, two-factor authentication, and cutting-edge technology, users can rely on their credit cards for secure transactions.

Are you ready to experience secure and convenient financial transactions? Apply now and elevate your shopping experience with an IndusInd Bank credit card.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

Today, when technology has revolutionised the way we live, it comes as no surprise that even conventional financial products like credit cards have seen a significant transformation. One such innovation in the world of payment is a contactless credit card, which offers a seamless and secure way of conducting financial transactions.

The use of contactless payment technologies allows you to make purchases without physically handing your credit card or debit card to the shopkeeper. This is intended to help make payments convenient and ease the checkout process with a touch-free payment method. But any new technology brings in queries regarding its functioning and features.

In this blog, we will look into what contactless credit cards are, explore the numerous benefits they offer,and how they work.

What are contactless credit cards?

Unlike traditional cards that require swiping or inserting into a card reader, contactless credit cards simply require a quick tap on a compatible payment terminal to complete a transaction. To check if you own a contactless credit card, just see if it has a symbol of a radio wave emitting from the card.

You can complete transactions by tapping your contactless credit card over a point-of-sale (POS) terminal. This terminal could be a smartphone, tablet, or wearable that has a digital chip and supports payment procedures. Such transactions have gained popularity in recent times as many consumers own and use updated devices that support contactless technologies.

How do contactless credit cards work?

Contactless credit cards have a tiny chip that transmits your payment information by sending short-range radio waves in the vicinity of a contactless payment terminal. To process the payment, you need to bring your credit card within a few inches of the payment terminal. Do not pull your card out unless the transaction is complete. When your transaction is complete, the payment terminal may beep, flash a green light, or show a green checkmark.

Features and benefits of contactless credit cards

Here are some of the benefits of contactless credit cards that might help you tap into this modern world of managing your finances conveniently:

1. Protection from fraud

Contactless payment comes with advanced security features such as transaction limits and PIN requirements for higher-value purchases. You are always protected from fraud while using contactless credit cards. They safeguard your money by moving it only with your permission. If your card is stolen, you will get your lost money back, as most banking organisations protect you against un-authorised transactions..

2. Quick payments

In the tap-and-go era, the earlier process of inserting your credit card into a payment terminal appears time-consuming. Thereafter, you need to wait until the machine beeps and allows you to pull out your card. Compared to the traditional methods of inserting your credit card or making cash payments, this mode of payment is quicker.

3. Safe payments 

Your name, billing address, or card verification code are not transmitted when you are using contactless credit cards. Your payment information is sent with a unique one-time code for each transaction. This type of payment is among the safest available. Nobody will be able to use your payment details fraudulently. The hacker would have to defeat the challenging method that banks use to produce a one-time code.

For banks, your convenience and security are a priority. Contactless credit cards from IndusInd Bank are cutting-edge products that will enable you to pay faster at merchant locations that support contactless payments. Additionally, these cards can be used for ATMs, online transactions, and shopping purposes.

Why choose IndusInd Bank contactless credit cards?

IndusInd Bank offers instant credit cards with a 100% digital application process.These cards provide a multitude of perks across categories like shopping, travel, entertainment, and dining. Premium privileges are also available with some cards. You can redeem your reward points for cash in your credit card account, and these reward points do not expire.

The top instant contactless credit cards online from IndusInd Bank are listed below, along with their features and advantages:

IndusInd Bank Legend Credit Card

Certain luxury brands were hand-selected to meet your demands and are created to provide you with a once-in-a-lifetime experience by giving you the best. The IndusInd Bank Legend Credit Card offers the following rewards:

• 2 reward points for every ₹100 spent on weekends
• Discounted foreign currency mark-up of 1.8%
• 1% fuel surcharge waiver

IndusInd Bank Platinum Aura Edge Visa Credit Card

The IndusInd Bank Platinum Aura Edge Visa Credit Card is a remarkable offering with world-class benefits in the domains of dining, travel, lifestyle, etc. Additionally, you may easily tap and go at merchant facilities, thanks to the payWave technology.

• With this card, you can earn up to 8x reward points on select merchants
• You can enjoy a 1% fuel surcharge waiver

IndusInd Bank Club Vistara Explorer Credit Card

Use your Club Vistara IndusInd Bank Explorer Credit Card to purchase flight tickets, book hotels, shopping, and more to earn Club Vistara Points.

• 8 points for every ₹200 that you spend on the Vistara website or app 
• 6 points for every ₹200 that you spend on travel, hotels, and airline 
• 1 point for every ₹200 that you spend on insurance, fuel, utility, or government Payments 
• 2 points for every ₹200 in case of other spending categories
• Zero foreign currency mark-up on all your international spending

IndusInd Bank Avios Visa Infinite Credit Card 

With the Avios Visa Infinite Credit Card, you can earn Avios, which will be credited to your account for an assigned limit in each statement cycle. 

• 5 Avios for every ₹200 that you spend on certain selected international destinations for point-of-sale payments 
• 1 Avios for every ₹200 that you spend online on selected international destinations 
• 1 Avios for every ₹200 that you spend in domestic or other international destinations 
• 2 Avios for every ₹200 that you spend on British Airways and Qatar Airways websites and apps 
• 1 Avios for every ₹200 for every other spending category  

IndusInd Bank Tiger Credit Card 

The Rewards programme is a particular initiative that was created to accommodate the lifestyle of picky clients like you. When you use your IndusInd Bank Tiger Credit Card, you will accrue reward points. You can earn up to 6 accelerated rewards on every ₹100 that you spend 

• There is a 1.50% discounted forex markup fee
• You have access to 1 complimentary golf lesson or game each quarter 
• You have 2 complimentary domestic lounge access each quarter and 2 international lounge access each year through the Priority Pass 
• Every six months, you have access to 1 complimentary movie ticket upto ₹200 every 6 months in one year
• Enjoy a 1% fuel surcharge waiver at all Indian petrol stations

This waiver only applies to fuel purchases between ₹400 and ₹4,000

IndusInd Bank EazyDiner Credit Card 

The IndusInd Bank EazyDiner Credit Card is a great dining credit card with outstanding benefits. This card is intended for those who appreciate experiencing life to the fullest, offering instant discounts in addition to points on dining, entertainment, and shopping.

• EazyDiner Prime membership for one year, worth ₹2,495
• Every time you book and pay through the EazyDiner app, an additional instant 25% discount of up to ₹1,000 is offered
• Every diner receives a free premium alcoholic beverage at more than 200 selected eateries
• A gift voucher for The Postcard Hotel valued ₹5000
• Every quarter, two free trips to domestic airport lounges are provided
• Every month on bookmyshow.com, two free movie tickets worth ₹200 each are provided
• Waiver of 1% of the fuel price at all Indian fuel stations

IndusInd Bank Platinum Visa Credit Card 

The IndusInd Bank Platinum Visa Credit Card is an instant credit card that offers a complete choice of travel, leisure, and golf rewards to match your tastes. You may earn rewards and use them whenever it’s convenient for you.

• Earn 1.5 reward points for every ₹150 that you spend 
• Enjoy comprehensive insurance benefits 
• There are various plans that you can choose from to enjoy specific offers and earn further rewards
• Get a 1% fuel surcharge waiver

IndusInd Bank Nexxt Credit Card 

IndusInd Bank has partnered with numerous merchants for the redemption of reward points, wherein you can pay with your accrued rewards through Nexxt Credit Card.

• Earn 1 reward point for every ₹150 that you spend 
• Enjoy buy 1 get 1 on BookMyShow  
• Utilise flexible options of paying via EMI, credit, or reward points
• You also get to enjoy comprehensive travel insurance

Conclusion

You can experience the simplicity of tap-and-go with instant contactless credit cards from IndusInd Bank. The benefits they provide contribute to a safer and more efficient mode of payment. So, why wait any longer? Apply for a credit card onlinewith IndusInd Bank now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.