Online shopping is the future of how we buy goods and services. By now you’ve almost certainly experienced the wide range, great pricing and convenient delivery offered by your favourite e-retailers. Buying furniture, clothes, technology, food and so much more has never been easier; all from the comfort of your couch using your credit/cheque card details. However, there is something that takes away from then convenience of this new age of shopping: potentially exposing your banking details to the dark world of online fraud.
Online fraud is real
“It won’t happen to me”, “I trust my bank”, “I only shop at secure sites”. Online fraud might not seem real if you haven’t been a victim yet, but even banks with the highest levels of security lose out. One of South Africa’s largest banks recently experienced card fraud totaling more than R300 million. This massive loss happened after fraudsters used card details to withdraw this shocking figure from ATMs in just a few hours. It’s much the same for other local banks, some of which face potential class action lawsuits by forensic security experts for sharing client details with third parties. Customers have lost precious savings and fight to have their losses covered. There’s even more bad news. According to new data from ACI Worldwide, online retail fraud attempts increased by 30% in the past year and aren’t slowing down.
How long until you become a victim of fraud?
There’s now a worry free solution to these security concerns
One of VCpay’s key features is greatly improved security when paying online, in-app and beyond. VCpay acts as the shield between your personal/banking details and the world of online shopping. This keeps your information private and completely separates your traditional bank account from the stores or apps you purchase at.
Top up your account only with what you need to spend, set spend limits for each unique card, and don’t worry about fraudsters accessing your life savings.
Want even more protection? VCpay offers the safest way to pay online, our single-use virtual cards. These cards are created for the exact amount you want to pay, expire immediately after use and are the ultimate way to protect yourself from fraud. Even if a would-be fraudster intercepts your card details or hacks into the merchant database, they are no longer linked to your VCpay account and can’t be used to steal any funds.
You don’t need to be a statistic
R252.2 million was stolen through online fraud in South Africa last year and the 2016 figure already dwarfs that. In fact hundreds of billions of rands are stolen globally through online fraud annually.
You don’t need to be a statistic. You don’t need to contribute to these massive numbers. You don’t need to let someone steal your hard-earned cash. If you don’t already have the safest way to pay online and beyond, do yourself a security favour and download VCpay today.