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Why Most Websites Ask for Your Credit Card Pin When Checking Out

If you go to make a purchase on a website with your credit card, there is a good chance that you will be asked for your security number. For business owners who have credit card processing abilities or are thinking about adding credit card processing capabilities, why is it important to ask for that information?

Anyone Can Get a Credit Card Number

It doesn’t take much to get a credit card number. A waiter at a restaurant can write down a customer’s credit card number or take a picture of it with his or her phone. That number can then be entered at checkout at any site where the thief would want to make a purchase. All merchant accounts that process fraudulent credit card transactions could be forced to refund the money plus a fine. When your merchant account provider has to pay, you ultimately will pay with higher fees and lost income from any fraudulent purchase.

Feel Secure Should You Lose Your Card

While your security number is visible on the back of your card, you don’t have to keep it there. You can scratch it out or make it illegible to anyone who finds your card. Without the security number, no one can use your card if you lose it or it is stolen from you. All you need to do is call your credit card provider to have the card cancelled and have a new one sent to you.

No Credit Freeze Required

A credit freeze occurs when you notify the credit agencies that your information has been compromised. When you have a freeze on your credit report, no new accounts can be opened or purchases made without your permission. However, this can be annoying because you may not be able to rescind the freeze once it takes effect. If you were to find your card or have it returned to you, it will be harder to make purchases for the next 90 days.

If you run a business that has one or more merchant accounts, you want to make sure that your site requires the customer to enter the security number associated with the credit card. If you are a customer, never shop on a site that doesn’t require this information. This is because you are shopping on a site that may have security holes elsewhere on the site.

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