What are the different types of fraud protection programs?
In Oregon, there are several types of fraud protection programs available for credit card holders. These programs are designed to prevent fraudulent and unauthorized charges from occurring. One type of fraud protection program is the Verified by Visa program. This program provides an extra layer of security for online purchases when customers use their Visa credit card. Customers are prompted to create a unique password and then provide additional information during the checkout process in order to verify their identity. Other fraud protection programs include MasterCard SecureCode and American Express SafeKey. These programs also require customers to create a unique password and provide additional information when making purchases online. Another type of fraud protection program is the Cardholder Information Security Program (CISP). This program requires merchants to adhere to certain data security standards when it comes to processing credit card transactions. This includes encrypting customers’ personal information, storing credit card numbers securely, and notifying customers of any suspicious activity. Finally, there is the EMV chip technology. This technology is used in credit cards and is designed to help reduce the risk of fraud by making it difficult for criminals to duplicate a card. The chip stores information in a secure manner and is much more difficult to counterfeit than traditional magnetic strip cards. Overall, these fraud protection programs are designed to protect customers from unauthorized and fraudulent charges and help keep their personal information secure.
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