, 10 tweets, 4 min read Read on Twitter
KNOW YOUR PAYMENT CARD DETAILS - and keep them safe from fraudsters and scammers.

A #Thread

Cc @yinkanubi

#BeWare #Beaware
Your payment card - debit, credit or prepaid - contains loads of information.

Two types mainly:
Those that can be read electronically
Those that can be read physically

Let's focus on the easiest and most vulnerable - those that can be read physically.
Your payment card has:
Bank name
PAN - Primary Account Number
Cardholder name
Expiry Date
Card brand
CVV - Card Verification Value

A combination of these data are used to consummate financial transactions and therefore need to be protected.
These three are particularly CRITICAL -
Expiry Date

...and with your PIN, anyone who has access to these can execute any transaction at will.
There are two types of transactions:

1. Card Present Transactions
2. Card Not Present Transactions (CNP)

Card Present is where your card is with you and used on channels such as ATM and PoS

Card Not Present is Internet, Mobile and USSD, etc
For Card Present, you need the Card and your PIN to complete transaction at ATM or PoS.

This means you do not allow anybody look over your should at the ATM and don't let any Cashier/Attendant take your card out of sight.

Be very very vigilant with your card details.
Of course, a 2nd-Factor Authentication (One Time Password or Device Fingerprint) will usually be required for Card Not Present (CNP) transaction. This is CRITICAL.

So, your card can be with you but transactions are being executed on your phone - this are CNP transaction frauds.
Card Not Present requires PAN + Expiry Date + CVV and some with PIN & OTP/Device Fingerprint

Sometimes, convenience is sweet over security therefore you need to determine how you want to manage Convenience and Security. (Another #Thread soon)
Many Customers have compromised their card details unknowingly and are being defrauded by the day.

Unfortunately, they are unaware & want to hold the Banks liable. Sad

Cardholders have responsibility to keep their card details sacred/private like their toothbrushes & underwears
Keep your card safe.

Don't just hand it to anybody even trusted friends & relatives.

Protect its uses at ATM or PoS

Online, be sure that the Merchant has a physical address.

Make sure the website is secure with 'https'. 👇

Keep your transaction receipts, e-copy too.

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