In today’s digital world, India is experiencing a major change in how people handle money. This change is called the Numberless Credit Card revolution. Axis and Fibe partners launched a numberless credit card on 10 October 2023, with this new technology, users does not have to take extra burden about remembering or hiding long strings of numbers when making purchases. This article explores this innovative way of paying, discussing its benefits and how it’s changing the way people manage their finances in India.
Numberless Credit Card
Regular credit cards have visible numbers that you use for shopping online. But numberless credit cards are different. They use smart technology to keep your information safe. They use something called tokenization.
Instead of your real card number, these cards use a special digital code made with complex math. This code represents your card, but it doesn’t show your real number. Even if someone tries to steal it, they can’t use it because it’s not the actual card number.
So, numberless credit cards keep you safe online. It’s a simple idea, but the smart technology behind it makes your online shopping safer and easier.
First Numberless Credit Card Launch
Imagine having a credit card without long, confusing numbers on it. That’s exactly what Fibe, previously known as EarlySalary, a leading Fintech company in India, and Axis Bank, one of the country’s largest private banks, have introduced. Together, they’ve created India’s first-ever numberless credit card, tailored especially for young, tech-savvy individuals. This unique credit card doesn’t have long numbers on it, making it super secure for users.
Sanjeev Moghe, the head of Cards & Payments at Axis Bank, shared that this card focuses on keeping customers safe while providing a strong financial solution. It’s not just about security; it’s also about empowering the smart and ambitious youth of India.
This initiative aligns with Axis Bank’s mission of connecting with people. Their goal is to include everyone and make banking accessible to all. With this innovative card, they aim to make banking safer and more convenient for the diverse and growing group of young consumers in the country.
Reason to use Numberless Credit Card
The intention behind introducing a codeless or numberless credit cars was to make it more convenient and safe for the users. This card can be easily connect with the payment gateway like Rupay and user can make safe payment anytime while in previous approach the codes could be misused by some one. We all are aware of the scammers and their traps. Although it is just a step for making a change into the traditional approach. It is already being used in other countries and there are high chances that soon it will rule.
Numberless Credit Card Feature
When you use digital money, safety is really important. Let’s talk about how numberless credit cards keep your transactions super secure. These cards have powerful safety features that make them safer than regular ones and it would be quite interesting to check – “how”
Tokenization Technology: Numberless credit cards use a technology called tokenization. Instead of transmitting your actual card number, a unique digital token is used for transactions. Even if intercepted, this token is useless to hackers, making it extremely secure.
No Visible Card Number: Traditional credit cards have visible card numbers that can be easily copied. Numberless credit cards do not display your card number physically, reducing the risk of it falling into the wrong hands.
Advanced Encryption: These cards utilize advanced encryption techniques. When you make a payment, the data is encrypted, making it unreadable to anyone trying to intercept it.
Dynamic Security Codes: Numberless credit cards often generate dynamic security codes for each transaction. Unlike static codes on traditional cards, these change with every purchase, adding an extra layer of security.
Fraud Detection Systems: Issuers of Numberless credit cards have sophisticated systems in place to detect unusual patterns and potential fraud. If any suspicious activity is noticed, they can alert you and take necessary actions to protect your account.
By combining these security measures, codeless credit cards significantly reduce the risks associated with digital transactions, providing users with a safer and more secure way to make payments.
Safe Transaction Tips
Using numberless credit cards can be really safe if you follow a few easy steps:
Just like any other card, keep your codeless credit card in a safe place. Don’t share it with anyone you don’t trust.
When making online transactions, make sure you’re on a secure website. Look for “https://” at the beginning of the website address, which means the site is encrypted and safe to use.
Be careful about sharing your personal details online. Your codeless card is safe, but you still need to protect your other information.
Keep an eye on your bank statements. If you notice any transactions you didn’t make, report them immediately to your card provider. Make sure your phone, tablet, or computer’s operating system and apps are up-to-date.
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Digit less Credit Card Advantages
These updates often include important security features. If your card provider offers two-factor authentication, enable it. This adds an extra layer of security to your accounts. Many card providers offer alerts for transactions over a certain amount. Consider setting up these alerts to be notified of any significant transactions. By following these tips and being aware of your online activities, you can enjoy the convenience of codeless credit cards while keeping your transactions safe and secure.