Credit Card an Invention for Upcoming Generation

Topics: Credit card, Credit card fraud, Card Security Code Pages: 38 (12569 words) Published: December 5, 2010
* Introduction
* History of credit card-
* Basic information about credit card
* What is credit card
* Definition of Credit Card
* Numbering of credit card
* Function of credit card
* How they work
* What is virtual credit card
* What are Secured Credit Cards
* Type of credit card and issuer
* Deferent between credit card and debit card
* Security features on a Credit Card
* Advantage of credit card
* Reserve bank of India guidelines
* Introduction of credit card fraud-
* what is EMV
* what is Holography
* What is Magnetic stripe
* Card security code
* Bank Identification Number (BIN)
* What is credit card fraud
* How fraud is committed worldwide
* card Related Frauds
* Impact of credit card frauds
* Credit card fraud detection for online transactions
* Fraud prevention technology
* Resent development in fraud management technology
* Fraud labs credit card fraud detection web service
* Secure electronic transaction
* What to do in case of credit card fraud
* provision of Indian law in credit card fraught
* Guidelines to prevent credit card fraud
* Case studies
* Conclusion

Before days it’s compulsory for people go anywhere with money. They can’t go anywhere without money. Human think that if we have money in the pocket then we can purchase anything but without money we cannot purchase. Past time money as a kind of paper only. Now day’s money very different kind. We know as a plastic money and use it.

Plastic money
are the alternative to the cash or the standard 'money'. Plastic money is used to refer to the credit cards or the debit cards that we use to make purchases in our everyday life.  Plastic money is much more convenient to carry around as you do not have to carry a huge some of money with you. It is also much safer to carry it along or to travel with it as if it is stolen one can consult the bank whose service you are using and get it blocked hence saving your money from getting stolen or even lost.

A credit card is plastic money that is used to pay for products and services at over 20 million locations around the world. All you need to do is produce the card and sign a charge slip to pay for your purchases. The institution which issues the card makes the payment to the outlet on your behalf; you will pay this 'loan' back to the institution at a later date. A credit card is an electronic, small plastic card issued to users as a system of payment which allows its holder to buy goods and services based on the holder's promise to pay for these goods and services but pay for them at a later date. When you buy something using a credit card, the credit card provider pays for your purchase. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

History of credit card
The credit card market in India, which started out in 1981, is on the verge of an unprecedented boom. Between 1987 and 2000, the market has virtually grown to over 3.8 million cards with almost 25-30 per cent growth in new card-holders. The credit card embodies two essential aspects of the basic banking function - the transmission of payments and the granting of credit. Therefore, in its true sense, a ‘credit’ card must offer the opinion of revolving credit. This is very akin to the overdraft facility offered by banks to their account holders. A credit card holder does not necessarily have to settle his entire account at the end of the month for he has the option to make partial payment in subsequent months. In fact, when the card-holder makes the full payment at the end of the month he is said to be using his credit card as a ‘charge card’. Incidentally, the interest paid by the...
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