Wednesday, February 20, 2013

HDFC Bank replacing merchant terminals due to 'skimming' fraud


Country's largest credit card issuer HDFC Bank has started replacing some points of sale machines at merchant establishments following card 'skimming' frauds, a top official has said. "We are replacing machines at some merchants," the bank's head for credit card and merchant acquiring, Parag Rao told reporters here last evening. Rao said cases of 'skimming' have been witnessed in the country of late, wherein the card data is copied illegally in an otherwise legitimate transaction, only to be used fraudulently later................

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