The internet has taken the entire world by storm. Everything has become technology oriented including purchasing and paying for purchased goods. If you have a look at the buying practices of people ten years before, using online payment options was not a commonly used practice. People used to visit outlets and pay by cash. Even if credit cards were used, the frequency was not that high. These days, things have changed a lot and people do not prefer paying cash. In addition to that, credit cards prove to be helpful when the transaction amount is high.
Consider that you have to purchase a sound system and laptop from one of the electronic appliance vendors. These purchases would obviously cost a large sum of money and it would not be feasible for the buyer to carry so much cash. Thus, he would opt for the credit card payment option. If you are a shop owner, it is important to validate the card before accepting it. This would give an assurance about whether it is valid or not. A hacker may be counterfeiting you by using an illegitimate card. By using a credit card validator, you can get a confirmation about this aspect.
The use of a credit card validator and its plus points
Here are some major advantages of using a credit card validator
Details of the actual owner are verified
Consider that your credit card gets stolen. If someone finds it and uses it, he would not get caught until the shop owner is using a validator. It would secure your card as the user would not be able to provide verification. Hence, this is one major plus point of using a validator.
Counterfeited cards shown
Hackers are very smart these days. They make replica cards of the actual ones and use it for purchasing things. The only way to stop the usage of these cards is by using a validator. Shop owners and vendors should use it as a standard practice. The transaction should only be executed if the card does not have any validity issues. As a business owner, you can suffer major financial losses if you have accepted a counterfeited. This is because you would not be able to claim the payment from the merchant.
Online purchasing and credit card frauds
We hear about online purchasing frauds every now and then. This mainly happens because the vendor cannot see or talk to the person making purchases and using the credit card. In such cases, there are high chances that an invalid card would be used.
- In the case of online shopping, the risks of credit card fraud are quite high and a security step has to be taken. This would obviously reduce the risk of fraud. Credit card validators help vendors in avoiding financial fraud. Once they see that the card is valid, they can be sure that no frauds are being carried out. On the other hand, vendors who don’t perform this check take a big risk.
Easy and simple process to confirm credit card legitimacy
The process of using a credit card validator is very simple. These tools are online and you can validate the card by using a simple process. Here are the steps which you have to complete.
- Once the interface of the tool loads, enter the required information.
- To validate a credit card, you need to provide the credit card number and name. For instance, the credit card number may be 12345678 and the name can be VISA. The tool would check the validity of the card on the basis of these parameters. If the tool shows that the card does not have any validity issues, you can execute the transaction without any fear in mind. On the other hand, if the tool shows that the credit card is not valid, you can stop the transaction.
Prevention of Financial Losses
When an invalid credit card is used, the vendor or seller suffers a financial loss. Let us go through an example. Consider that you have a t-shirt online store and a buyer punches a credit card number to make a purchase. If you verify the number and it is legitimate, you can execute the transaction without having any kind of doubt. If the validator shows that the credit card is valid, you can eliminate all fears.
- The problematic scenario is when the card is not checked and it has validity issues. In such cases, the product would be dispatched and the vendor would not earn anything. This is because when he would contact the merchant to claim the payment, he would figure out that the card does not exist. In a nutshell, he would suffer a financial loss. This loss can be prevented if you use a quality validator and check the dependability of the card prior to usage.
Summing It Up
Online payments have their set of pros and cons. Credit cards carry the fear of online frauds with them. These days, hackers and technological frauds have become quite sharp. They have state of the art designing and software development skills. Thus, creating an invalid card is not a problem for them. The best way to control the situation is to check the validity with the help of a validator.
The usage process of this tool is very simple. The user has to enter the card number and card name. The validator would check the combination of the number and the card name. In this way, you would get a complete assurance that you are not being fooled. Most credit card validators are free so users can do not have to worry about spending money. Financial frauds are very common these days and people lose a lot of money through illegitimate credit cards. Thus, taking precautions is very important. The use of a credit card validator is the best way to get a guarantee that the card is legitimate.