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Credit card security.

By Melar ·
Being a software development house dedicated to residence management systems for university housing, one of the questions that has come from customers recently is "how can we make credit card information more secure?"

With the recent spate of credit card fraud/theft, this has become a hot topic.

I'm interested in what sort of solutions are being used in other areas to keep this kind of information safe.

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Rough

by tagmarkman In reply to Interesting

"eCost's scam seems to be offering FAR (Free-After-Rebate) items to suck people in but that are not mfg rebates but from affiliated company, and only good for 10 days from ORDER date. They then delay shipment so you get item AFTER rebate expires, or don't include rebate form in box, etc."

Now there is a rough one...

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It's still the human element

by DC Guy In reply to Credit card security.

People don't keep track of their cards. They let their children use them. They loan them to their friends. They forget to pick them up in stores and restaurants. They don't sign the back. They don't reconcile their monthly statements.

This is the biggest cause of credit card theft. Physical loss of the card itself coupled with poor management of the resource and the account.

If you're dealing with a student population, that's the demographic in which this problem is the worst. Young people haven't developed good habits yet. They may have just gotten their first card so they're not accustomed to thinking about it. They're in a bewildering and distracting new environment.

If I wanted to steal a credit card I'd probably go to a place where students hang out. Their cards may not have high limits so I wouldn't be able to buy a motorcycle with it. But I could probably charge it up to the limit before it got reported.

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I agree.

by Frenchwood In reply to It's still the human elem ...

Carelessness & Naivity does account for a lot of theft/Fraud.

Not understanding the implications if you do not report the loss immediately also *can* cause problems with your provider refusing to remove some fraudulant transactions.

I think that credit; the use of; and understanding of; is not taught well enough.

(In the UK) I remember at school, being shown how to write a cheque and manage a bank account in personal education. I do not remember anything about credit, maybe this has been remedied now, but as far as i know it has not, and in which case it should as people would be more aware of how to look after their financial assets/interests.

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