| If you are the type of person who almost always | | | | Being a victim of credit card theft or fraud is, in fact, a |
| shops online, then you probably pay with credit cards. | | | | devastating experience. You would not want this to |
| But just like in any other part of the world, there can | | | | happen to you and neither does your card company. |
| be problems that arise either internally or from external | | | | That's why there are payment processors. Payment |
| sources. When you're a customer, you always want | | | | processors protect you and your credit card company |
| your rights to be protected. But still, you can't get away | | | | from fraud. Payment processors are like bridges that |
| with threats of being thieved or scammed. And the | | | | link a customer with his credit card company so that |
| bad news is, those things can happen both in the | | | | before any transaction is made, both parties can be |
| offline and online worlds. | | | | checked. |
| Just imagine someone suddenly having to pay for | | | | For example, when someone makes a purchase of a |
| purchases he never made or services he never | | | | certain item online, the payment processor notifies the |
| availed of. This person will definitely wonder why his | | | | card company and checks whether or not the |
| bills have ballooned into an amount that is much larger | | | | account has reached its limit. If it has reached its limits, |
| than what he usually has to pay. And then he decides | | | | the transaction will be denied. In a way, this is also for |
| to look into the situation and find that such purchases | | | | the protection of the card owner because anyone |
| have been made using his credit card without his | | | | who knows he has used up his limit will not dare use |
| knowledge. He files a complaint and later learns, | | | | the same card for more purchases. The only person |
| through his card company, that he had been a victim | | | | who will use a card that has no more credit left is the |
| of fraud. His account is closed and is replaced with a | | | | one who must have used the card or its details |
| new one. But then again, the damage has already | | | | without the owner's knowledge. But with the presence |
| been done and a large sum of money from his | | | | of online processors, this transaction will be |
| account has already been used up. The card | | | | immediately blocked and the attempt to defraud the |
| company cannot or would not excuse this and will let | | | | rightful owner of the account will not prosper. |
| him pay the amount incurred nevertheless. | | | | |