Community Contributor | Jul 3, 2018 | 0
Swipe to avoid griping
With issues of safety and security constantly arising where money is involved, Standard Bank is urging its customers to do away with cash transactions in favour of swiping their bank cards.
“Criminals are constantly coming up with new ways to steal from people. Carrying cash puts you at a higher risk than having your bank card with you,” said Standard Bank’s PR and Communications Manager, Surihe Gaomas-Guchu.
“Swiping ones bank card as opposed to using cash comes with a lot of benefits that go beyond safety and security,” Gaomas-Guchu said that swiping can help you save on the bank charges that come with withdrawing at an ATM and also help in earning rewards the more that you swipe.
Further she explained that there are security measures in place that ensure that you do not lose your money when you’ve lost your bank card unlike when carrying cash if it is stolen or lost, that money is gone for good.
According to Gaomas-Guchu every time an EMV card is used for payment, the card chip creates a unique transaction code that cannot be used again. If a hacker stole the chip information from one specific point of sale, typical card duplication would never work because the stolen transaction number created in that instance wouldn’t be usable again and the card would be denied
“There have been instances of theft were unsuspecting target are marked with the aim to rob them because they know that they are carrying around large quantities of cash. Opting to swipe means you no longer have to carry cash around and both you and your money are safe,” she added.
Swiping also helps keep track of your spending which in turn is a helpful means of keeping to your budget. “Especially if you are using a debit card which only allows you to only spend what you have in your account,” Gaomas-Guchu said.