How credit and debit cards play an important role in every people’s life?

Nowadays we are using debit cards and credit cards for payments. These types of payments are known as the CARD PAYMENT method. The card payment method is the best then we are carrying money with us. So the government had said to take card payment method. This method can be used in both online and offline processes and it is also used to take card payment on buying some products. We can take the card payment method on the mobile phone. While using this method we need to give our card information. This type of making transaction can be used while ordering some products or anything in online shopping methods. This method is safest and protected by high technology software. Without the CVV code which was available in our debit or credit card, no one can use your cards. We should not share our card number, expiry date, and CVV code. By these three any other person can get access to your card and make payment by your card.

What does the CVV code mean?

CVV is abbreviated as card verification value. The rating of amazon is higher while others are at a lower rate. So amazon does not require a CVV code on the payment process. BOFA is the safest credit card and it is also named “Best in Class in Security”. The debit card is also a payment card that the cash is debited directly from the account. On India Jan 1, 2021, they said that the central servicing bank has announced to raise the limit for contactless card. On the card payment method, the credit card limit was set by the card provider. For example, if the card provider was set a limit of Rs.50000, then we should not spend beyond that amount. These payment cards were provided by the banks to the customers. There are different types of cards in INDIA namely Master, Visa, Visa Electron, Rupay, Maestro, Contactless. These cards are debit cards in INDIA. There are three types of credit cards name bank issues the credit card, store card, and travel card. Debit, credit, prepaid, e – purse, ATM, and pos are denoted by PCI known as Payment Card Industry.

The founder of the master card was wells Fargo from Crocker national park and the first interstate Bancorp from the bank of California. HDFC bank is the best card payment on all platforms. Chase sapphire reserve is the best credit card that was used by billionaires. “Amex black card” is also known as a type of credit card which was released in 1999. You are being a high earner and with more spending requirements you will get the black card. Your credit score should also be high to get the black card. The card payment process also offers the card holder’s cashback offer. While using the card payment method the pin must be needed. The pin should not be shared with anyone. If you forgot your debit card pin, you can to a nearby atm and reset your pin easily. Nowadays card payments were used in all places such as malls, supermarkets, banks, restaurants, etc…These card payment methods are introduced in 1979 in the banking sector and they are widely used in mid of the 1980s.

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