tag:blogger.com,1999:blog-5587346.post2798518042673546934..comments2024-02-15T13:20:14.813-06:00Comments on Gordon's Notes: End times for the credit card?JGFhttp://www.blogger.com/profile/14580785981874040314noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5587346.post-71108155373810073202011-01-05T22:18:29.306-06:002011-01-05T22:18:29.306-06:00In India, the customer pays for all transactions t...In India, the customer pays for all transactions that occur on an un-blocked card. It says so in the terms and conditions. <br /><br />If the card gets stolen, the customers are supposed to call up the bank and hot-list the credit card or debit card. <br /><br />Until it gets hot-listed, the customer pays for all transactions. Citibank in India does offer card-insurance that covers all payments Ramakant Yadavhttp://ramakantyadav.comnoreply@blogger.comtag:blogger.com,1999:blog-5587346.post-30352427192022240242011-01-05T18:28:45.104-06:002011-01-05T18:28:45.104-06:00Credit card fraud in the US is very common.
It...Credit card fraud in the US is very common.<br /><br />It's so lax because in the US banks almost always absorb the cost of fraudulent transactions that customer's notice. Fraud that goes undetected is paid by the customer.<br /><br />Since customers don't pay, there's no political pressure to improve. (Check fraud is different, usually the customer pays.)<br /><br />Banks pass JGFhttps://www.blogger.com/profile/14580785981874040314noreply@blogger.comtag:blogger.com,1999:blog-5587346.post-47450410502036801542011-01-05T06:57:17.527-06:002011-01-05T06:57:17.527-06:00Absolutely shocking that in the US, there is no th...Absolutely shocking that in the US, there is no three-factor-authentication for credit cards. In India, we have to use a one time password that is valid for 4 minutes if we want to use credit cards on-line. It is a law, citibank follows it, hsbc follows it and so do all the other private and public banks. <br /><br />I was shocked when Citibank only asked for my card number, cvv number and card Ramakant Yadavhttp://ramakantyadav.comnoreply@blogger.com