Debit and credit card holders urged to fight fraud

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Debit and credit card holders urged to fight fraud

Tue, 23 Sep 2008

More than 25 million debit and credit cards have now been signed up to a scheme aimed at fighting online fraud, it has been revealed.

Apacs, the UK payments association reveals that the number of debit and credit cards registered for the MasterCard SecureCode and Verfied by Visa systems increased by 150 per cent in the last year.

To use the system, credit card holders sign up and choose a password which they then enter when shopping online .

Sandra Quinn, director of communications at Apacs, said: "The banking industry continues to urge those cardholders not yet signed up to do so, as we all need to play our part to make life harder for online shopping fraudsters."

The fact that so many debit and credit card holders have signed up for the scheme is "excellent news", she added.

Recently, a study by Abbey revealed that 22 per cent of people are looking to transfer their credit card balance to a zero per cent deal in the next 12 months.