Debit and credit card security remains in the headlines and top of mind for many people. In reality, MasterCard cards offer more protection than you might realise. Let’s take a look:
- Electronic payments are almost always more secure than cash. Electronic payments typically offer protections or, at minimum, electronic trails from where payments start to where they end up. Just try to track or reclaim cash if it fell or was taken from a pocket.
- Zero Liability in less than 24 hours. All banks within SEPA (the Single Euro Payments Area) limit cardholders’ responsibility to 150EUR before the loss of a card is declared and zero after. While some do offer full zero liability, it is always at European bank’s discretion to offer that service.
- Emergency Assistance virtually anytime, anywhere and in any language. MasterCard Global Service helps with emergency card replacement or cash advances and finding ATM locations, either around the corner or around the world.
- MasterCard’s initiatives on Chip & PIN have dramatically reduced fraud by 80% in Africa, Europe and Canada
- MasterCard screens 1.8bn transactions every month to help detect and eliminate fraud ensuring Maestro and MasterCard are the safest way to pay
“Fraud prevention and detection is a 24/7 job at MasterCard, because safety and security is our number one priority. Cardholders need a safe and simple experience when making a payment, wherever they are in the world and whether they tap, click or swipe. We continuously enhance technology to detect and prevent fraud so that consumers can be confident that their money is safe,” said Ajay Bhalla, president Enterprise Security Solutions, MasterCard.