MAS should make Credit Card Payment Rules compulsory

UK restaurants adopt a best practice on credit card payment procedures by making sure that customers need not hand over their credit cards at their table for payment. Such a practice will definitely reduce credit card fraud as staff will not have the chance to steal card information from the cards they handle.

Recently, I had dinner with a friend at a Chinese restaurant. Halfway through our meal, the waitress came and requested payment because they were closing soon. My friend passed a new credit card to the waitress for payment.

After a couple of days, the bank sent a sms to inform my friend that they suspected a fraud transaction made in US and asked whether it was authorized. My friend replied and said no, no such transaction was authorized.

As this is a new credit card with very few transactions made, my friend recalled that the only time when payment made without his presence or witness was at the restaurant which we had dinner.

Smartphones are an easy tool to use for snapping shots on the card details. It is so easy for payment made at restaurants off the table to effect a theft of credit card details.

MAS should make it a compulsory rule for restaurants to have credit card payment to be made right in front of the customers, either at cash counters or by using mobile credit card payment machines. Mobile credit card machines make it possible for such practice to be carried out seamlessly.

I believe this will help to cut down credit card frauds drastically.

 

Goh Meng Seng

 

 

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11 Responses to “MAS should make Credit Card Payment Rules compulsory”

  • oxygen:

    DEBIT CARD IS A LOT WORST, particularly when you are traveling and shopping abroad.

    Never, ever use a debit card,’ warns fraud expert and ex-con artist—here’s what to do instead

    https://www.cnbc.com/2019/08/27/debit-cards-are-dangerous-warns-fraud-expert-and-ex-con-artist-frank-abagnale.html

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  • For Payload, the mingler:

    I don’t know if WP dumped GMS out or what, but if so, surely is a right thing to do? You know if you have a pet mamba, don’t know when it’ll turns around and bite you? like he bit his once WP in the other article?

    And the other one TKL, votes spoiler for TCB. Both GMS and TKL are about the same and friends, literally speaking and on top of that are the somewhat resident story tellers of social media. I think, to stay in touch with the masses for one day “payload” delivery, probably?

    Wonder if they are both paid to tell wayward from mainstream subjects here. I suspect those Oppo Parties are yardstick distancing themselves from these two.

    Now, what do you think?

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  • mike:

    When getting refund back from SP and various BIG company, they still issue computer printed cheques. When ask them to deposit directly to bank account, theu say unable to do so…

    This nation is amazing, privatize profit socialize losses

    What do we expect? One country, Two System

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  • PAP.GUARANTEE.FLOP.GE2019/20:

    Now got chip cards. Supposed to be more protected?

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  • pap Spore is NOT smart nation:

    many years ago in then 3rd world China, already China issued credit cards needed a pin to do payment.

    in 2019 Internet age pap Spore, trying to be so called smart nation, ffff, pick up any credit card from bus stop straight away can use to pay for anything in any shop. where is the updated thinking in Internet security?

    pap blames shop assistants in not double checking.

    ffff. did then 3rd world China, now so far ahead of pap Spore, even dodge any issue when it comes to smart nation matters? No. China government set the rule and went ahead of pap Spore.

    BTW some bank credit cards are so ffffingly stupidly designed. can hardly read numbers and name on card due to all the dark colours and patterns on card.

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  • MarBowling:

    Tan Golden Chain and Gold Mint Singh are very GREAT buddies Macham LIKE playing “ChaTek” under the BED! In the good old days, ChaTek(round rubber base with a few birds of same feathers attached to it)is one those great games played by children in the kampong.

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  • oxygen:

    @ pap Spore is NOT smart nation:

    EXACTLY RIGHT, and a lot of elderlies don’t know their risks.

    pap Spore is NOT smart nation: in 2019 Internet age pap Spore, trying to be so called smart nation, ffff, pick up any credit card from bus stop straight away can use to pay for anything in any shop. where is the updated thinking in Internet security?

    which is why I said

    oxygen: DEBIT CARD IS A LOT WORST, particularly when you are traveling and shopping abroad.

    Never, ever use a debit card,’ warns fraud expert and ex-con artist—here’s what to do instead

    https://www.cnbc.com/2019/08/27/debit-cards-are-dangerous-warns-fraud-expert-and-ex-con-artist-frank-abagnale.html

    @ PAP.GUARANTEE.FLOP.GE2019/20: is wrong on this one.

    PAP.GUARANTEE.FLOP.GE2019/20: Now got chip cards. Supposed to be more protected?

    The chips makes it easier to skim your banking account and personal data. And when your bank-supplied debit card is linked to credit card entities, it is worse. You open more risks door for cyberspace criminal to hunt you down.

    Some banks are ruthless, they screw their own customer for profits in hidden charges behind debit cards.

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  • Change We Must:

    Can deactivate card for overseas use what.

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  • oxygen:

    @ Change We Must

    Who apply or supplied without consent a debit card to deactivate overseas use if he/she is aware?

    Change We Must: Can deactivate card for overseas use what.

    it

    So what they use the debit card for? Pay for char-kway-teow or kopi kosong in kopitiam? Or grab ride?

    A lot of housewives, ah kong and ah mah don’t know when bankers DIAM DIAM DIAM because it is very lucrative suction of consumer spending market.

    BUT WHEN YOU DROP YOUR CARD, MATI, if you suddenly discover can’t connect banker to stop payment (already debited). Someone was shocked to find debit card was used for payments in Malaysia.

    Can’t qualify for credit card, happy to get debit card for overseas spending. The merchants there debit your $100 bill for makan for $500, and the bank says we will investigate (till when and how to know correct billing???) and your bank account got raped in the meantime.

    With credit card, u limit your losses.

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  • oxygen:

    @ Change we must

    A lot of holiday-makers paid for forward journey with debit cards and SUDDENLY THOMAS COOK overnight told them – WE ARE BANKRUPT AND STOP FLYING IMMEDIATELY.

    Your bank acount got raped and stranded. Is ok if you are young with multiple credit/debit card but for retirees, how uh???

    THE BANKS DON’T TELL YOU THESE RISKS WHEN THEY HAND YOU A DEBIT CARD, RIGHT?

    very chek ark, right??

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  • oxygen:

    DEBIT CARD IS RED FLAG. In credit card, the issuer underwrite all losses beyond credit limit.

    In bank supplied debit card, your bank “underwrite” the fraudulent use of your card only when and after your credit balance in your banking account is siphoned out to zero.

    YOUR BANKER WARNS YOU OF THIS WHEN THEY GLADLY HAND YOU A DEBIT CARD???

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