Appreciation to the growing popularity of plastic money, maintaining more than a couple of cards have become more the rule than the exception. While the increasing reliance on this mode of payment has indeed given a boost to convenience, it has also meant that the security-related risks users are exposed to have gone up considerably. Misuses of stolen cards, skimming etc continue to be cause of concern for cardholders.Though the Reserve Bank of India's directive making two-factor authentication mandatory for transactions carried out online has made the process more secure, the threat lives on in the offline world.Enter card protection servicesSome insurance companies and banks offer protection against misuse of credit and debit cards. For instance, Tata AIG General Insurance offers protection that covers identity theft and fraudulent charges. Under the former, expenses related to resolving the issues as well as expenses the holder has to pay for any resultant unauthorised credit a...
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