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Old 7th December 2016, 12:34   #2311
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Default Re: The Credit Card Thread

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Originally Posted by Saanil View Post
They said it would definitely work but if I inform them about the dates and country of travel, they will add it in their records and I will not get a call if I swipe my card.
HDFC has a much more reassuring option in place if you use netbanking. They allow you to list the number of countries you will be visiting and the probable dates you will be out of country.
This way it can be properly documented and one need not rely on customer exec making accurate notes in your account.
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Old 7th December 2016, 15:27   #2312
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Default Re: The Credit Card Thread

US has one of the least secure credit card systems in the world. EMV chip adoption there is pretty recent, and mostly the move is towards chip+signature instead of chip+pin like it's elsewhere in the world.

Last year when i visited the US, it was more common to see merchants just swipe it and in some cases require zip code as second level verification. This obviously wouldn't work with Indian cards, but i saw US issued cards being used along with zip codes. Sometime even zip code verification is probably useless and can be bypassed - as i experienced when i used my prepaid travel card at a location. I was asked for zip code, which the prepaid card didn't have obviously, so i gave the zip code of the place i was staying and the transaction went through!

Some online transactions could be done without entering the CVV. All you needed was just card number and expiry date. Basically merchants/banks have been ok for paying for eventual fraud than for investing in upgrading the overall infrastructure to support EMV chips.
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Old 7th December 2016, 15:36   #2313
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Default Re: The Credit Card Thread

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Originally Posted by SilentEngine View Post
US has one of the least secure credit card systems in the world. EMV chip adoption there is pretty recent, and mostly the move is towards chip+signature instead of chip+pin like it's elsewhere in the world.

.
True, and most of the merchants don't provide a charge slip unless you ask for one. for a country which is very paranoid about security, it is difficult to comprehend such lax security for credit card transactions.
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Old 7th December 2016, 16:35   #2314
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Default Re: The Credit Card Thread

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for a country which is very paranoid about security, it is difficult to comprehend such lax security for credit card transactions.
In USA, card issuing companies take the hit for any fraud. In India, the loss is passed on to the user. There are many places in the USA where for small transactions they don't ask for the signature. In the case of any false billing, they prefer to refund the customer than spend time investigating the case.
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Old 7th December 2016, 22:24   #2315
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Originally Posted by condor View Post
US has a lot of personalized cards with photo's of the card holder. Hence there is one level of check built in. We have not come to that, and the OTP factor + pin, which I feel are important.
I have given my personal card to my colleague for use in POS and on all occasions it was approved without much ado.

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Originally Posted by Saanil View Post
Even I was surprised when nobody asks you to enter your PIN at overseas POS. You just swipe your card and that's it! I am much more comfortable with the entering PIN method.
Not sure about cards issued in India used in US, but PIN required for cards issued in US for POS sales. Applicable for both debit and credit cards.

Last edited by bblost : 7th December 2016 at 22:45. Reason: Back 2 Back posts. Please use multi quote. Thanks.
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Old 8th December 2016, 16:53   #2316
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Service tax on card transactions upto Rs. 2000 will be abolished
http://www.thehindu.com/business/Eco...le16776696.ece

What happens to fuel surcharge now?

For those using cards and e-wallets, Petrol and Diesel purchases will now attract a 0.75% discount.

Read more at:
http://economictimes.indiatimes.com/...campaign=cppst

Last edited by ampere : 8th December 2016 at 19:17. Reason: Back to back posts merged
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Old 8th December 2016, 17:48   #2317
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Default Re: The Official Fuel Prices Thread

FM just announced that Petrol/diesel will be cheaper for those who pay by digital mode; They will get 0.75% discount.
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Old 8th December 2016, 18:32   #2318
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Default Re: The Official Fuel Prices Thread

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FM just announced that Petrol/diesel will be cheaper for those who pay by digital mode; They will get 0.75% discount.
Has to be reconciled with the 2.5% or whatever surcharge. The intent is good, but there may be some corners to be sorted out. Obviously the card provider will have to be recompensed. Abroad cards are preferred due to safety and convenience aspects.
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Old 8th December 2016, 18:48   #2319
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Default Re: The Official Fuel Prices Thread

Even though 0.75% is quite small amount, yet this along with other incentives such as 10% discount on using RFID tags at tolls is a welcome initiative. I always felt there was serious need to offer monetary benefits for using electronic mode of payment.

A welcome initiative indeed!!
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Old 8th December 2016, 18:55   #2320
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Default Re: The Official Fuel Prices Thread

What about the surcharge? Has that been waived too?
Or is it now effectively 1.75%?
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Old 8th December 2016, 19:12   #2321
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Default Re: The Official Fuel Prices Thread

Good initiative though after reading the announcements closely this 0.75% discount is to be borne by respective institution and not Govt.

So I am assuming in earlier scenario if person buys Rs 100 fuel then 2.5%+taxes used to be surcharge going to government/card companies. Petrol pumps net get Rs 100.

Under new notification petrol pumps on selling Rs 100 fuel get to keep Rs 99.25 but govt/card companies still gets 2.5%+taxes.

Does not seem fair, this 2.5%+taxes should also be waived or reduced.
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Old 8th December 2016, 20:05   #2322
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Default Re: The Credit Card Thread

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Originally Posted by S_U_N View Post

What happens to fuel surcharge now?
Was about to post, you beat me to it! Instead of a surcharge we have a discount now
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Old 8th December 2016, 20:40   #2323
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Default Re: The Credit Card Thread

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Originally Posted by hothatchaway View Post
Was about to post, you beat me to it! Instead of a surcharge we have a discount now
Well, I don't think it is wise to interpret this as "no surcharge".

There could be surcharge, but no service tax. And then there is some discount thrown on top.

But we have to wait for some clarity.
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Old 8th December 2016, 20:56   #2324
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Default Re: The Credit Card Thread

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Originally Posted by S_U_N View Post
There could be surcharge, but no service tax. And then there is some discount thrown on top.

.
I will be very surprised if what the FM meant was that henceforth the fuel surcharge would be .75% less than the existing 2.5%. If that is the case it would have been phrased such. All service tax on transactions upto Rs 2000 waived as well, however if you tank up for more than 2k I suppose the ST will apply
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Old 8th December 2016, 21:11   #2325
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Default Re: The Official Fuel Prices Thread

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