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| Article Name : | | | CREDIT CARDS: FRAUDS &PREVENTION | | Author Name : | | | Manoj Malik , Rahul Dev Kaushik | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | GRT-5711 | | Article URL : | |  | Author Profile View PDF In browser | | Abstract : | | | A Credit or cash card in its various avatars is a money payment device rather a device for taking loan or making purchase on credit. They are used extensively. Business worth trillions of rupees is being transacted through credit cards annually worldwide. The credit card is used only at certain specified mercantile centers without paying the cost of merchandise to the merchant at the spot. In other words purchase are made on credit. The merchant has already an agreement to collect the sale money from the issuer or acquirer of the card on production of the sale receipts duly signed by the cardholder. The issuer of the card after payment to the merchant at the POS, debits the amount to the account of the card holder1. | | Keywords : | | |
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