Credit unions providing personal credit card readers to protect you from cyber fraud
In a dark, ominous basement somewhere there is a cyber-thief clacking away at his keyboard trying to steal your credit card information. He is a relentless web-bully who spends countless hours writing and re-writing viruses that search out evidence of every internet purchase you've made on your computer. Thought you got a good deal when you bought a copy of Bram Stoker's Dracula off of Amazon.com for $1.05? Well, you might have gotten more than you bargained for. All it takes is one techno hiccup and your entire financial identity can be lost. Fortunately, there are ways to combat this problem that will ensure the security of your personal information. No, not anti-virus software, but a personal credit card reader that you can actually swipe just like at the grocery store, gas pump, or ATM.
To compete for market share with the "big four,"-Bank of America, Chase, Citibank, and Wells Fargo-credit unions across the board have been offering their customers personal credit card readers. This is a big step toward providing security that consumers can really depend on, and with that security comes loyalty that credit unions may be able to use to gain an edge. By issuing new card holders a reader when they open an account, credit unions are providing a new and unique experience to banking that is not only secure, but convenient as well.
At-home online banking is quickly becoming the vehicle of choice for managing personal funds. With a personal reader that plugs right into your computer, consumers can instantly access their accounts with a single swipe. Not only does a personal reader help forego tedious log-on protocol to view account information, but it also makes on-line shopping quick, easy, and secure.
As opposed to manually entering personal credit card and shipping information into the designated fields on the checkout screen, one swipe of your credit card will instantly populate all of the information. The way the reader makes it a safer and more reliable way to shop online is that none of the information is stored on your computer. Once the card is swiped, the information is encrypted and sent directly out to the site on which you're shopping. There is no need to download tedious and time consuming anti-virus updates, because the data is safe by design and stored at the point of origin before it ever reaches your computer's hard drive-where internet pirates can find your financial history. The cyber-thief has stockpiles of technology to breach your security, so internet users need to have their own piece of electronic genius to protect sensitive information.
By implementing cutting-edge technology and providing personal card readers, a necessity in today's online world, credit unions are quickly becoming a viable alternative to big name banks that currently don't offer enough convenience and security to internet-based clients. Not only do credit unions consistently offer the lowest APR rates on lines of credit, they are also becoming the unsung heroes for the masses of us who are at risk of falling victim to cyber fraud.