Best online payment cards?
in Banking, Insurance & Loans ·
Let me offer a bit of clarification regarding making purchases online using various credit and debit cards...
When you are using a Visa, you can only shop on the Internet if your issuing bank has specifically enabled that feature. Furthermore, the card itself needs to display all 16 digits—technically referred to as the PAN, or Personal Account Number—and, naturally, the Mastercard must have the Mastercard code printed right on the back.
However, just because a card features a Mastercard doesn't mean an online transaction is a guaranteed success. Whether or not a specific card is cleared for Internet use is tucked away in the fine print of your bank's terms and conditions for that particular product.
The same logic applies to all credit cards (both Visa and Mastercard), though, as a general rule, credit cards come with Internet purchasing enabled by default—even then, exceptions to the rule do exist.
For instance, you won't be able to buy anything online with a standard debit card like a Maestro.
Your PIN is intended solely and exclusively for authorizing transactions at physical point-of-sale locations where you are personally present. During Internet transactions, or when dealing with phone or mail-order sales, a merchant should NEVER ask you for your PIN. If they ever do, contact the local police immediately, as you are looking at a blatant case of credit card fraud...
When you are using a Visa, you can only shop on the Internet if your issuing bank has specifically enabled that feature. Furthermore, the card itself needs to display all 16 digits—technically referred to as the PAN, or Personal Account Number—and, naturally, the Mastercard must have the Mastercard code printed right on the back.
However, just because a card features a Mastercard doesn't mean an online transaction is a guaranteed success. Whether or not a specific card is cleared for Internet use is tucked away in the fine print of your bank's terms and conditions for that particular product.
The same logic applies to all credit cards (both Visa and Mastercard), though, as a general rule, credit cards come with Internet purchasing enabled by default—even then, exceptions to the rule do exist.
For instance, you won't be able to buy anything online with a standard debit card like a Maestro.
Your PIN is intended solely and exclusively for authorizing transactions at physical point-of-sale locations where you are personally present. During Internet transactions, or when dealing with phone or mail-order sales, a merchant should NEVER ask you for your PIN. If they ever do, contact the local police immediately, as you are looking at a blatant case of credit card fraud...