I was amazed to hear some bank officials talking about the proposed new credit card security checks.
These checks will detect more fraud which of course would be a good thing.
But the spokesperson said that the checks will also cause some valid transactions to fail and the payment request to be rejected.
Are these banks and credit card companies living in the real world or do they simply have no concern whatsoever about the problems that they may give to genuine customers?
Apart from being extremely embarrassing to have a credit card payment rejected, what on earth is the customer going to do next?
They may have purchased petrol or need a ticket to travel or even be paying for a meal that they had just eaten.
If they haven’t got enough cash on them then they are really left in the lurch; they may even risk being arrested for non-payment of goods! There are all sort of unpleasant scenarios which happen now when a credit card payment fails because the person doesn’t have enough credit.
But for these problems to occur for people who do have sufficient funds to pay their bills is simply not acceptable!
There is of course a very simple way of resolving the problem. I suggest that people no longer rely on using their credit or debit card. They should have enough cash on them to pay their bills and then they would not have to use their cards.
In an ideal world people could dispense of their credit cards altogether; that would give a significant message to the banks and credit card companies and highlight the fact that their job is to provide a service to their customers!
Tags: bank, card fraud, credit, credit card, fraud, fraudulent, payments, security check
