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Recent changes introduced by the banks for the safe use of plastic money.

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Various changes and instructions are given by the banks for the safe use of plastic money:

  • Do not save the 16 digit card number using multiple payment gateways. 
  • On the backside of the card, there is 3 digit number which is an added security feature that protects our card from making fraudulent transactions. 
  • For safe usage, a One Time Password (OTP) is provided by the bank on a client’s personal registered number (mobile number) to use for each transaction. 
  • Banks are instructed by RBI to move to chip and pin-based cards and avoid the use of magnetic stripe cards. The chip and pin-based cards create a unique token, every time the card is used. This provides a higher level of security than the magnetic strip.

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