credit-card-security

Serious Security Breach at HDFC Credit Cards & IT Systems – Advisory

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Issues With HDFC CardsIn the month of May 2014, there was an Unauthorized Transaction on my HDFC Bank Credit Card that happened in New York, USA while the card and myself are present in India. It was not an online transaction as my card is secured by Verified by Visa / MasterCard Secure Code. I raised a complaint with the HDFC Banks Card Division filling out their Dispute form and the bank duly refunded the disputed charge but not without several correspondences including to the one with ombudsman.

I duly blocked the card and asked for new plastic. To my surprise, I found that another transaction has happened at the same merchant within 3 days of receiving the new card. This is just impossible as I have not used the card online so chances of breach happening from my

Read moreSerious Security Breach at HDFC Credit Cards & IT Systems – Advisory

What to Do When Your Credit Card Transaction is Cancelled / Failed ?

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Transaction-FailedIndia is a truly Unique Country in its own way. At one end it boasts of having the Second Largest Telecom Subscriber Network and on the other hand Credit Card transactions happening on these Telecommunications network fail quite often for connectivity reasons. Such an instance happened when the Credit Card Authorization was Cancelled / Failed as shown in the receipt to your left. However, the customer has received a SMS on Mobile message that Rs 500 transaction has happened with the outstanding balance indicated. The merchant will then demand you pay in Cash or Re-Do the Credit Card transaction on

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Missed Call to be used for Credit Card 2nd Factor Authentication in Online / Mobile Transaction

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MissedCall Authentication in India for Online ShoppingAfter looking into Massive Credit Card Frauds in Online Transactions happening Abroad for Cards Issued in India, CardBhai – Credit Advisory floated the idea of 2nd Factor of Authentication for Card Not Present Transactions such as Online Shopping. Earlier in March, the RBI mandated Credit Card Issuing companies to upgrade their systems for Additional Authentication for Online Transactions. HDFC Bank went a step ahead and gave consumers a choice of One Time Password sent to their Mobile which could used to complete the Online Transaction.

Now for the second factor of authentication banks have come up

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HDFC Credit Cards Roll-Out “One Time Password” for Online Transactions

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HDFC Cards OTP-1India’s Largest Credit Card issuer, HDFC Credit Cards today informed us that they have rolled out One Time Password [OTP] authentication for Online Transactions. Consumers now have a choice to use either MasterCard SecureCode / Verified by Visa OR One Time Password which will be sent to the customers registered e-mail id as well as mobile phone.

As soon as we received the call, we decided to test it out by paying Reliance Communications bill online. As shown in the image above, you are provided a choice.

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