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Data is the new gold and there are a lot of thieves who are stealing it. From time to time, debit card and credit card information is stolen as well. Earlier this month, a <a href="https://www.businessinsider.in/tech/news/4-lakh-indian-debit-and-credit-cards-are-selling-for-9-apiece-on-the-dark-web/articleshow/74028856.cms">report</a> revealed that over 4 lakh Indian debit and credit cars were being sold online, for $9 each. This is not the only instance when Indian debit and <keyword id="6387037" type="UNKNOWN" weightage="20" keywordseo="credit-cards">credit cards</keyword> were spotted on the <keyword id="1929208" type="PERSON" weightage="20" keywordseo="dark-web">dark web</keyword>. Last year, Group-IB <a href="https://www.group-ib.com/media/biggest-card-database-ever/">found</a> over 13 lakh Indian debit and credit cards on sale on Joker’s Stash, a dark web underground card shop. You must be wondering how debit and credit cards end up on the dark web and why. In this post, we will explain how your financial data ends up on the dark web and how it is misused. How do debit and credit cards end up on the dark web? There are several ways how your debit and credit card information could be stolen and sold on the dark web. The most common methods include hacking into businesses, card skimming, installing malware on your devices and using fake websites. As per Group-IB, the recent breach of “data is likely to have been compromised online — with the use of phishing, malware, or JS-sniffers.” What happens when your debit and credit card info reaches the dark web? When card information is stolen, the thieves make a ‘database’ or a ‘dump’ of the information to make a sale. The card details are sold with the necessary details to make the purchase, such as the card number, card holder’s name and the CVV number. It must be noted that while the transactions that are routed through Indian payment gateways require a second layer of authentication in the form of OTPs, this layer is not mandatory for payment gateways outside of the country. In most instances, the card number, CVV and the expiration date is enough to complete a transaction. This allows your stolen card to be used by scammers for completing unauthorized transactions. Stolen cards are often used to purchase prepaid cards and other online services as a lack of address makes it harder to trace, allowing the person to use the card for a longer period. Some thieves also use the cards to make small insignificant purchases over a long period of time to avoid getting caught. See also: <a href="https://www.businessinsider.in/biggest-data-breaches-of-2019-to-affect-india/articleshow/72465865.cms">Biggest data leaks of 2019 that hit Indians</a> <a href="https://www.businessinsider.in/tech/news/4-lakh-indian-debit-and-credit-cards-are-selling-for-9-apiece-on-the-dark-web/articleshow/74028856.cms">4 lakh Indian debit and credit cards are selling for $9 apiece on the dark web</a> <a href="https://www.businessinsider.in/bank-details-of-1-3-million-indians-is-up-for-sale-on-the-dark-web/articleshow/71829700.cms">Bank details of 1.3 million Indians is up for sale on the dark web</a>

Here is what happens when your credit/debit card number, name and CVV end up on the dark web

Everyone loves a brand new dress or a pair of sunglasses or the latest shoes that are up on sale. And while shopping is fun, there is a very thin line between healthy shopping and being a shopaholic. So, to help all the struggling <keyword id="161733" type="UNKNOWN" weightage="20" keywordseo="Shopaholics">shopaholics</keyword> out there, BI India comes out with five basic tips before they hit the stores! 
 
Decide the budget 
 
It isn’t for no reason that every government in the world comes out with its annual budget. Budget helps you plan your expenses and thus, allows you to put in a little thinking before shelling out all your money on those goodies out there. So, before you help out our staggering retailers to rake in the moolah, ensure your generosity doesn’t burn a hole in your pocket! 
 
Save a portion 
 
Once you have prepared your budget and fixed an amount for shopping, take the money out of your account and keep it someplace safe. The banks offer various saving options that can be used to make some saving before you decide to splurge in that store having your favourite bag on its display. 
 
Say no to <keyword id="6387037" type="UNKNOWN" weightage="20" keywordseo="credit-cards">credit cards</keyword> 
 Credit cards are a big no-no for shopaholics. While you may not be parting with your hard-earned money immediately, it certainly does hurt to see the long bills that come knocking on the doors at the end of the month. Instead, use the <keyword id="6354770" type="UNKNOWN" weightage="20" keywordseo="Debit-cards">debit cards</keyword> that reside there in the wallet. Not only does it pay for your shopping, it also keeps a check on how much you have already spent by declining to pay anymore. 
 
Shop at the right places 
 
Wise men have always said that cut your coat according to your pocket. It basically means that you should remember how much you earn before you go shopping. Does your income allow you to shop at premium stores? Does street shopping suit your pocket than going to a mall? Ensure that you have a balance between branded and fashion junkies. 
 
Be the sales champion 
 
The festive season is around and every retailer has come out with attractive discounts. Go through every store to see which one offers the best discounts. It’s best to get over with a major chunk of shopping essentials while the sale is on than pay double later. 
 
Representational Image: Indiatimes.com

5 Money Tips
For Shopaholics

As we purchase more online and swipe cards more often, we are contributing to a cashless economy which is more efficient. But it comes with various risks like data misuse. Financial data is one of the most sought-after information by online criminals and there have been many <a href="https://www.businessinsider.in/biggest-data-breaches-of-2019-to-affect-india/articleshow/72465865.cms">data leaks in 2019</a> to show that no information is safe. As per a recent <a href="https://www.businessinsider.in/tech/news/4-lakh-indian-debit-and-credit-cards-are-selling-for-9-apiece-on-the-dark-web/articleshow/74028856.cms">report</a>, over 4 lakh Indian debit and credit cards were available on the <keyword id="1929208" type="PERSON" weightage="20" keywordseo="dark-web">dark web</keyword> for $9 each. You can read <a href="https://www.businessinsider.in/tech/news/here-is-what-happens-your-credit/debit-card-number-name-and-cvv-end-up-on-the-dark-web/articleshow/74058814.cms?src=hp_tech">here</a> how your financial data reaches the dark web and what happens to it. In this post, we will explain what steps you can take to prevent your debit and <keyword id="6368202" type="UNKNOWN" weightage="20" keywordseo="credit-card">credit card</keyword> information from reaching the dark web. How is financial data stolen Financial data can be stolen in <a href="https://www.businessinsider.in/tech/news/microsoft-dropbox-and-linkedin-are-the-biggest-targets-for-phishing-attacks/articleshow/72492998.cms">phishing attacks</a>, <a href="https://www.businessinsider.in/tech/news/airtel-data-breach-exposes-personal-data-of-32-crore-subscribers/articleshow/72428075.cms">data breaches</a>, skimming and other <a href="https://www.businessinsider.in/biggest-data-breaches-of-2019-to-affect-india/articleshow/72465865.cms">leaks</a>. Phishing attacks Phishing is aimed at collecting usernames, passwords and other personal information of users. It is usually done using an email or a message that contains a link or an attachment. The sender pretends to be a trustworthy entity such as a company or bank. Data breaches Data breaches occur when the user data stored with companies and websites is stolen using phishing, malware, or JS-sniffers. Under attacks like this, user data such as customer name, number, address and payment details are stolen. So, one should be careful about the entities that possess their basic information. Skimming In this, skimmers are attached to ATMs and card machines to steal your card details so they can access your account. They use the obtained details to clone your card and run up charges on your account. How to protect you debit and credit card from getting stolen Here are some tips that will help you to protect your financial information from getting stolen. Check ATM machines for skimmers <div type="image" title="ATM Skimmer" msid="74061252" hostid="261"></div>

 When you are at the at the ATM, you can check for skimmers in the following ways: <ul><li>Check the ATM card reader for tape or glue residue. </li><li>Check if anything is hanging from the ATM. </li><li>Wiggle the card slot for loose-fitting attachments. </li></ul>Monitor your transactions Regularly check your account statements and card reports for suspicious transactions. If you find even a small transaction that wasn’t done by you, immediately inform your bank and get the card blocked. Do not use shady websites If you are getting a deal that you think is too good to be true or a new website is offering you great deals, do not fall for such tricks and purchase items only from known and trustworthy websites. Be careful with emails Phishing attacks are often carried out by sending attachments or links via email. Avoid clicking on suspicious links and attachments and only click on emails from trusted sources. Do not share your card details If anyone calls you claiming that they work for your bank and ask you for your card details, do not provide any information about your bank account or cards. Call up your bank and share the phone number from which you received the call. See also: <a href="https://www.businessinsider.in/tech/news/here-is-what-happens-your-credit/debit-card-number-name-and-cvv-end-up-on-the-dark-web/articleshow/74058814.cms?src=hp_tech">Here is what happens when your credit/debit card number, name and CVV end up on the dark web</a> <a href="https://www.businessinsider.in/4-lakh-indian-debit-and-credit-cards-are-selling-for-9-apiece-on-the-dark-web/articleshow/74028856.cms">4 lakh Indian debit and credit cards are selling for $9 apiece on the dark web</a> <a href="https://www.businessinsider.in/biggest-data-breaches-of-2019-to-affect-india/articleshow/72465865.cms">Biggest data leaks of 2019 that hit Indians</a>

How to stop your debit/credit card information from reaching the dark web

Now, no more forgetting that debit/credit card at the teller machine or checking twice and thrice before leaving a shopping mall in case we left the card at the billing counters! Here’s introducing the contactless debit and credit cards that come with a fraud cover of Rs 1 lakh, by the State Bank of India. 
 The <keyword id="2581731" type="UNKNOWN" weightage="20" keywordseo="contactless-cards">contactless cards</keyword> uses near field technology (NFC) that enables users to make payments by waiving or tapping the card near the contactless reader instead of swiping or dipping it. 
 
"The NFC technology makes the contactless cards very secure as the card never leaves your hand thereby reducing the <a href="http://economictimes.indiatimes.com/definition/risk" target="_blank">risk</a> of card loss and fraud. The customers can tap or wave the card at the POS machine enter the pin and complete the transaction to pay at busy locations," said bank said in a statement to media. 
 
To add to its merits, the card will come with emergency replacement facility anywhere in the world. 
 
"We will tie-up with campus, hospitals and corporate for card," said <a href="http://economictimes.indiatimes.com/topic/SBI" target="_blank">SBI</a> chairman <a href="http://economictimes.indiatimes.com/topic/Arundhati-Bhattacharya" target="_blank">Arundhati Bhattacharya</a> speaking to media while launching sbiINTOUCH card at Starbucks, as per a report in the Economic Times. She was optimistic that once RBI gets comfortable with NFC technology it would increase the minimum limit from Rs 2,000. The bank has tied up with Shoppers Stop, Reliance Retail, <a href="http://economictimes.indiatimes.com/topic/Big-Bazaar" target="_blank">Big Bazaar</a> and Starbucks. 
 The country's largest bank, <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>, will upgrade all its existing 2.20 lakh point of sale (PoS) machines to <a href="http://economictimes.indiatimes.com/topic/NFC" target="_blank">NFC</a> technology. The bank currently has 5,000 NFC enabled machines and it plans to launch 10,000 new PoS which will accept contactless cards. 
 SBI is the country's largest issue of <keyword id="6356475" type="UNKNOWN" weightage="20" keywordseo="debit-card">debit card</keyword> and the third largest issuer of <keyword id="6368202" type="ORGANIZATION" weightage="20" keywordseo="Credit-card">credit card</keyword> after <a href="http://economictimes.indiatimes.com/hdfc-bank-ltd/stocks/companyid-9195.cms" target="_blank">HDFC Bank</a> and <a href="http://economictimes.indiatimes.com/icici-bank-ltd/stocks/companyid-9194.cms" target="_blank">ICICI Bank</a>. As on December 2014, SBI has issued as many as 14.7 crore debit cards and 30 lakh credit cards. 
 
(Image credits: thinkstock)

SBI is ensuring you won’t ever bother again about forgetting your debit card in the ATM machine

<ul><li>The dollar volume of fraudulent credit and debit card charges soared 35% year-over-year in April, <a href="https://www.wsj.com/articles/borrower-beware-credit-card-fraud-attempts-rise-during-the-coronavirus-crisis-11590571800">The Wall Street Journal</a> reported Wednesday, citing data from Fidelity National Information Services.</li><li>The surge in such charges arrives as consumer spending plummets, leaving card issuers and consumers at a rapidly growing risk of account <keyword id="38935" type="PERSON" weightage="60" keywordseo="Fraud">fraud</keyword>.</li><li>The rise in such attempts arrives as millions of Americans failed to make card payments in April. A recent TransUnion report showed the share of accounts falling into "financial hardship" programs jumped 3.2%, or 14.7 million accounts, in April.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Credit and debit card fraud attempts are skyrocketing as consumers weather the coronavirus pandemic and resulting recession.The dollar volume of fraudulent transactions leaped 35% year-over-year in April, <a href="https://www.wsj.com/articles/borrower-beware-credit-card-fraud-attempts-rise-during-the-coronavirus-crisis-11590571800">The Wall Street Journal</a> reported Wednesday, citing data from Fidelity National Information Services. The sharp increase arrives as consumer spending has slumped to historic lows, signaling card issuers could face significant costs as a larger share of transactions turn fraudulent.Fraud losses reached $16.9 billion last year, according to The Journal, a 15% increase from 2018 and a worrying sign for cardholders, banks, and businesses. All parties stand to lose from such a jump, whether through undetected charges or reversed purchases. Read more: <a href="https://www.businessinsider.com/stock-market-bubble-forming-cheap-hedging-strategy-bank-of-america-2020-5">Bank of America says a new bubble may be forming in the stock market — and shares a cheap strategy for protection that is 'significantly' more profitable than during the past 10 years</a>Fraudsters are employing a range of strategies to steal <keyword id="6368202" type="UNKNOWN" weightage="60" keywordseo="credit-card">credit card</keyword> information. Some use random strings of card numbers until they find a real account to make fraudulent purchases, The Journal reported. Others use emails, texts, or phone calls to trick consumers into revealing their account information.The rise in fraud attempts arrives as millions of Americans fall behind on credit card payments amid the worsening economic backdrop. The share of credit card accounts entering "financial hardship" programs <a href="https://www.businessinsider.com/debt-credit-card-auto-loan-payments-missed-april-coronavirus-economy-2020-5">surged by 3.2%</a>, or 14.7 million accounts, in April, according to a recent report from credit-reporting agency TransUnion. The same measure jumped just 0.01% the previous month as virus lockdowns first kicked off.Auto loans also slid into hardship status, with 3.5%, or nearly 3 million accounts, unable to cover monthly payments last month.The trends stand to worsen as layoffs continue and consumers stockpile cash to ride out the worst recession in nearly a century. Jobless claims made last week totaled 2.1 million, the Labor Department announced Thursday, bringing the metric's 10-week total past 40 million. A continued rise in <keyword id="6354772" type="UNKNOWN" weightage="60" keywordseo="credit-card-fraud">credit card fraud</keyword> could further hit Americans laid off during the pandemic and struggling to stay afloat through the downturn.Read more: <a href="https://www.businessinsider.com/25-stock-picks-to-buy-hedge-fund-favorites-outperformance-ytd-2020-5">GOLDMAN SACHS: Buy these 25 stocks that are wildly popular with hedge funds — and have crushed the market this year</a>Read the original article on <a href="https://www.businessinsider.com/credit-card-account-fraud-skyrockets-coronavirus-pandemic-recession-economy-layoffs-2020-5">Business Insider</a>

Credit-card fraud surges 35% as coronavirus freezes the economy and wipes out jobs

<ul><li>These cards can be used at ATMs, point of sale (PoS) machines, and online merchants overseas. </li><li>Additionally, <keyword id="597447" type="General" weightage="20" keywordseo="rupay" source="Orion">RuPay</keyword> Debit, credit, and prepaid cards will be authorised for issuance in foreign jurisdictions. </li><li><keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>’s goalposts for Payment Vision 2025 has already outlined a roadmap for the global outreach of RTGS, NEFT, UPI, and RuPay cards. </li></ul>In a bid to provide more payment options for Indians travellers abroad, the Reserve Bank of India (RBI) has decided to allow Indian banks to issue RuPay <keyword id="1018384" type="General" weightage="20" keywordseo="prepaid-forex-cards" source="Orion">prepaid forex cards</keyword>. These cards can be used at ATMs, point of sale (PoS) machines, and online merchants overseas. “... Further, RuPay debit, credit, and prepaid cards will be enabled for issuance in foreign jurisdictions, which can be used internationally, including in India. These measures will expand the reach and acceptance of RuPay cards globally. Necessary instructions will be issued separately,” read the RBI’s statement on Developmental and Regulatory Policies, issued on June 8. Says Rajsri Rengan, India Head of Development, Banking and Payments, at FIS, a fintech company, “The permission granted to banks for issuing RuPay pre-paid forex cards opens up new avenues for seamless and flexible cross-border transactions. This development brings forth enhanced convenience and efficiency for individuals and businesses engaged in international trade.” RuPay, as the first domestic card payment network in India, has achieved wide acceptance across various channels such as ATMs, point-of-sale (POS) devices, and e-commerce websites throughout the country. By promoting electronic payments, RuPay aligns with the Reserve Bank of India's goal of fostering a "less cash" economy, encouraging banks and financial institutions to embrace technology and offer digital payment solutions.RuPay credit cards can now be linked to a UPI ID, thus directly enabling safe, and secure payment transactions. According to a report by merchant platform Pine Labs, it is projected that transaction volumes on the RuPay network will experience a compound annual growth rate (CAGR) of 20% over the next three years. By the fiscal year 2025-26 (April-March), transaction volumes are anticipated to reach 3.2 billion, a significant increase from the 1.8 billion transactions recorded in 2022-23. RBI’s goalposts for Payment Vision 2025 has already outlined a roadmap for the global outreach of RTGS, NEFT, UPI, and RuPay cards. Recently UPI has been integrated with Singapore’s PayNow, and Japan is expected to join the UPI system as well. UPI is also expected to be adapted by other countries as well.

RBI allows banks to issue RuPay prepaid forex cards

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Joe Raedle/Getty ImagesDebit cards can put you at risk.</div></div></div><ul><li>Debit card fraud increased by 10% from 2016 to 2017, according to FICO.</li><li>Since debit cards are linked to bank accounts, they don't offer as much fraud protection as credit cards.</li><li>Here's when you shouldn't use a debit card - and when you should use cash or a credit card instead.</li></ul>Swipe with caution.While a <a href="http://www.businessinsider.com/debit-cards-are-growing-faster-than-credit-cards-2016-11" target="_blank" rel="noopener">debit card</a> can help prevent you from racking up some serious <a href="http://www.businessinsider.com/which-is-better-credit-vs-debit-cards-2018-3" target="_blank" rel="noopener">credit card</a> debt, it can also put you in a more dangerous situation - like the risk of <a href="http://www.businessinsider.com/free-credit-monitoring-services-2018-3" target="_blank" rel="noopener">identity theft</a> or fraudulent charges. Trust me, I know from experience. I've always been an avid debit card user - I love tracking where my money goes, which seems nearly impossible to do with cash, and I aim to keep my <a href="https://www.creditkarma.com/credit-cards/i/credit-card-utilization-and-your-credit-score/" target="_blank" rel="noopener">credit utilization under 30%</a> to keep my <a href="http://www.businessinsider.com/good-credit-score-can-help-you-get-a-date-2018-2" target="_blank" rel="noopener">credit score</a> in good standing. That said, I use my debit card for a decent bulk of my purchases or payments.Yet, I learned the hard way that a debit card isn't your best bet for everything.A few days after filling up my gas tank in South Florida, I noticed some strange charges on my checking account - a few payments at different <a href="http://www.businessinsider.com/cheapest-gas-station-chain-in-every-state-2018-2" target="_blank" rel="noopener">gas stations</a> in the area and a charge at a Home Depot located in the more northern part of Florida. Since I lack any homebuilding skills at the time (although I'm still no Bob the Builder), I knew right away these weren't my doing.The fraudulent charges came out to roughly $175 - not a small sum, but it could have been worse. As a broke college student at the time, $175 was a goldmine. I had less than $10 left in my checking account - and I didn't even own a credit card yet.Luckily, my bank alerted me to the unauthorized debit card use, and after I filed a dispute form my money was reimbursed.That was the last time I used a debit card at a gas station, which is a <a href="https://www.consumer.ftc.gov/blog/2017/06/avoid-skimmers-pump" target="_blank" rel="noopener">popular target for criminals with card skimmers</a>.It seems I'm not the only one who has ignored the protective benefits of a credit card and experienced the highs and lows of a debit card - in August 2017, <a href="http://www.fico.com/en/newsroom/fico-reports-a-39-percent-rise-in-debit-cards-compromised-at-us-atms-and-merchants-08-31-2017" target="_blank" rel="noopener">FICO reported</a> a 39% rise in debit cards compromised at US ATMs and merchants. For 2017 overall, <a href="http://www.fico.com/en/newsroom/10-percent-more-debit-cards-were-compromised-in-us-last-year" target="_blank" rel="noopener">10% more debit cards were compromised</a> in the US compared to 2016.Debit cards and credit cards are processed differently, meaning they propose different risks. With debit cards, there's more money at stake.According to the <a href="https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards" target="_blank" rel="noopener">Federal Trade Commission</a>, users aren't held liable if they report a lost or stolen debit card before unauthorized charges are made, but are held liable for up to $50 of unauthorized or fraudulent charges if the issue is reported within two days. If you report the issue within 60 days, you may be held liable up to $500. And if you wait until after 60 days, your maximum loss is all the money the thief took from your debit account - and possibly any other accounts linked to it.Credit cards have better fraudulent protection. Legally, credit card users are only liable for up to $50 of unauthorized or fraudulent activity if the activity occurs before you report it missing. According to the <a href="https://www.consumerfinance.gov/ask-cfpb/am-i-responsible-for-unauthorized-charges-if-my-credit-cards-are-lost-or-stolen-en-29/" target="_blank" rel="noopener">Consumer Financial Protection Bureau</a>, if you report a lost or stolen card before it's used, the card company can't hold you responsible. If someone steals and uses your account number, you generally have no liability.Credit cards also offer <a href="https://finance.yahoo.com/news/shouldn-apos-t-credit-card-104500506.html" target="_blank" rel="noopener">other valuable protections</a>, such as chargebacks, extended warranties, and price protection.Make sure to keep your checking account safe by resisting the urge to swipe your debit card at these seven risky places.

The riskiest places to swipe your debit card

According to a <a href="http://www.bankrate.com/finance/consumer-index/financial-security-charts-0514.aspx">Bankrate survey</a>, 40% of people carry less than $20 of cash in their wallets.
So unless you're buying something really small, your payment options are limited to <a href="http://www.businessinsider.com/credit-debit-or-cash-2014-9">debit or credit</a>.
So how do you decide between the two?
We talked to certified financial planner Alan Moore, founder of <a href="http://www.serenityfc.com/">Serenity Financial Consulting</a>, to see in which instances you should put away the debit card and default to credit.
Moore's first suggestion was to check what kind of fraud protection your bank provides for your debit card.
"By law, if a consumer's credit card gets stolen, they are responsible for the first $50 of stolen money, and the credit card company must cover the rest," Moore says.
"For debit cards, consumers are responsible for the first $500 of expenses," he continues. "While these are the legal limits, some banks choose to provide better fraud protection coverage for debit cards. USAA, for instance, covers 100% of the stolen funds, not just money after $500."
Moore advises that if you're one of the many people who would be responsible for the first $500 should your debit card be stolen, you'll want to use your credit card when there's more money at stake, or your card's information might be less secure.
These are the cases when it's safer and smarter to steer clear of your debit card in favor of credit:
<h3>Online purchases</h3>
Moore says that when buying online from major vendors such as Amazon, using a debit card shouldn't present any problems. However, if you're buying from a smaller or less-established company, Moore advises sticking to a credit card, since you just never know what those companies are doing with your card data.
"It is impossible to know if the vendor is protecting your data as well as they should," he says, "so erring on the side of caution is good."
<h3>Travel expenses</h3>
Traveling isn't cheap and it's something that is often booked way in advance. There's no guarantee that something won't come up before a big trip that would cause you to cancel it. For this reason, Moore suggests using credit cards with built in travel protection.
"This can provide a safety net for if your trip gets canceled to due to illness or weather," Moore explains. "Be sure to book hotels, rental cars, and flights on your credit card. Debit cards rarely have built in travel protections."
<h3>Small vendors</h3>
You're at a flea market and you find an antique that would be perfect for your home, but the vendor wants to write down your debit card information. Moore says switch to a credit card. In fact, he has first-hand experience with this, since his debit card number was once stolen after a vendor recorded it.
Not all small vendors call for cash or a credit card, though. "As long as the vendor is using a reputable processor like Square or QuickBooks, then I wouldn't be worried [about a debit card]," Moore says.
<h3>Gas stations</h3>
Moore sees only one problem with people using debit to pay for gas: If you're the kind of person to carry a relatively low balance in the account linked to your debit card, you may want to use credit.
"The one argument that I've heard on why you shouldn't use a debit card at a gas station is because gas stations put holds on funds in your account to be sure you have enough to cover the purchase, and that can cause other checks/purchases to bounce," Moore explains.

Here Are The Smartest Times To Use Debit Instead Of Credit

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ShutterstockYou can use a credit or debit card on PayPal by adding one to your account on the mobile app or website.</div></div></div><ul class="summary-list"><li style="font-weight: 400;">You can use most major credit cards on <a href="https://www.businessinsider.com/category/paypal">PayPal</a>, including <a href="https://www.businessinsider.com/category/visa">Visa</a>, <a href="https://www.businessinsider.com/category/mastercard">MasterCard</a>, <a href="https://www.businessinsider.com/category/discover">Discover</a>, <a href="https://www.businessinsider.com/category/american-express">American Express</a>, and more. </li><li style="font-weight: 400;">It's easy to link a credit card to your <a href="https://www.businessinsider.com/category/paypal">PayPal</a> account using the mobile app or website. </li><li style="font-weight: 400;">You can add multiple credit or debit cards and choose which one to use when making purchases.</li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>In addition to connecting your bank account to <a href="https://www.businessinsider.com/category/paypal">PayPal</a>, you can also use credit cards with the online payment service. You can use most major credit cards on <a href="https://www.businessinsider.com/category/paypal">PayPal</a>, including <a href="https://www.businessinsider.com/category/visa">Visa</a>, <a href="https://www.businessinsider.com/category/mastercard">MasterCard</a>, <a href="https://www.businessinsider.com/category/discover">Discover</a>, <a href="https://www.businessinsider.com/category/american-express">American Express</a>, and more. If you prefer, you can also link debit cards with <a href="https://www.businessinsider.com/category/visa">Visa</a> or <a href="https://www.businessinsider.com/category/mastercard">MasterCard</a> logos to your <a href="https://www.businessinsider.com/category/paypal">PayPal</a> account. You can add multiple cards to your account and use whichever one you prefer when making a purchase. Here's how to do it. <h3>Check out the products mentioned in this article:</h3><h4><a href="http://bestbuy.7tiv.net/c/196318/614286/10014?subId1=bitht_110419_use-a-credit-card-on-paypal&amp;u=https%3A%2F%2Fwww.bestbuy.com%2Fsite%2Fapple-iphone-11-64gb-black-verizon%2F6341340.p%3FskuId%3D6341340" rel="nofollow nofollow nofollow">iPhone 11 (From $699.99 at Best Buy)</a></h4><h4><a href="http://bestbuy.7tiv.net/c/196318/614286/10014?subId1=bitht_110419_use-a-credit-card-on-paypal&amp;u=https%3A%2F%2Fwww.bestbuy.com%2Fsite%2Fsamsung-galaxy-s10-with-128gb-memory-cell-phone-unlocked-prism-prism-black%2F6323528.p%3FskuId%3D6323528" rel="nofollow nofollow nofollow">Samsung Galaxy S10 (From $899.99 at Best Buy)</a></h4><h2>How to add a credit card on <a href="https://www.businessinsider.com/category/paypal">PayPal</a> in the mobile app</h2>1. Start the PayPal app on your <a href="http://bestbuy.7tiv.net/c/196318/614286/10014?subId1=bitht_110419_use-a-credit-card-on-paypal&amp;u=https%3A%2F%2Fwww.bestbuy.com%2Fsite%2Fapple-iphone-11-64gb-black-verizon%2F6341340.p%3FskuId%3D6341340" rel="nofollow">iPhone</a> or <a href="http://bestbuy.7tiv.net/c/196318/614286/10014?subId1=bitht_110419_use-a-credit-card-on-paypal&amp;u=https%3A%2F%2Fwww.bestbuy.com%2Fsite%2Fsamsung-galaxy-s10-with-128gb-memory-cell-phone-unlocked-prism-prism-black%2F6323528.p%3FskuId%3D6323528" rel="nofollow">Android</a> phone.2. Tap the Settings icon (shaped like a gear) in the upper right corner of the screen.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Dave Johnson/Business InsiderStart the process of adding a credit card by clicking the Settings icon at the top of the screen.</div></div></div>3. Tap "Banks and Cards."4. Tap the plus at the top right corner of the screen.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Dave Johnson/Business InsiderUse the plus sign to add new credit cards to your PayPal account.</div></div></div>5. Tap "Debit or credit card."6. In the Link a card manually section, tap "Debit or credit card" and then follow the instructions to enter your credit card number.<h2>How to add a credit card on PayPal using a web browser</h2>1. Open the <a href="https://www.paypal.com/">PayPal website</a> in a browser and log in if necessary.2. If you're not on the Wallet page, tap "Wallet" at the top of the screen.3. Tap "Link a debit or credit card."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Dave Johnson/Business InsiderYou can add credit cards on the Wallet page of the PayPal website.</div></div></div>4. In the "Link a card manually" section, tap "Debit or credit card" and then follow the instructions to enter your credit card number.<h2>Related coverage from <a href="https://www.businessinsider.com/category/tech-how-to">How To Do Everything: Tech</a>:</h2><ul><li><h3><a href="https://www.businessinsider.com/how-does-apple-card-work">'How does the Apple Card work?': A guide to using Apple's new credit card and its features</a></h3></li><li><h3><a href="https://www.businessinsider.com/how-to-use-apple-pay-on-apple-watch">How to use Apple Pay on an Apple Watch with your debit or credit card</a></h3></li><li><h3><a href="https://www.businessinsider.com/how-to-use-apple-pay">How to set up and use Apple Pay on an iPhone</a></h3></li><li><h3><a href="https://www.businessinsider.com/how-to-remove-credit-card-from-ps4">How to remove a credit card from your PS4, and edit or add other cards to make purchases from the PlayStation Store</a></h3></li></ul><a href="https://www.businessinsider.com/intelligence/payments-and-commerce-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=paypal&amp;itm_campaign=payments-and-commerce-pro"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-its-hard-for-planes-land-on-water-2019-10">Why it's so hard for planes to land on water</a></h3> <div> </div> </div>

You can use most credit cards on PayPal - here's how to add a card and link it with your account to make purchases

<ul class="summary-list"><li>A weekend trip to Las Vegas made me realize how many of my millennial friends are still relying on <a href="https://www.businessinsider.com/why-i-buy-everything-with-credit-card-not-debit-card">debit cards</a> for all of their daily purchases. </li><li>Surprisingly, it's not just my friends who aren't taking advantage of <a href="https://www.businessinsider.com/best-travel-rewards-credit-cards">credit card rewards</a> - 23% of millennials don't have a credit card. </li><li>And that's problematic: Not only can credit cards help <a href="https://www.businessinsider.com/how-to-build-credit-with-a-credit-card-steps">build credit history,</a> but they can also help you <a href="https://www.businessinsider.com/travel-rewards-cards-easy-to-redeem-points-for-airfare-hotels">take advantage of valuable rewards</a>.</li><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">See Business Insider's picks for the best rewards credit cards »</a></li></ul>At a restaurant in Las Vegas, a few friends and I were splitting the check for brunch. When the check came, we all pulled out our cards to pay. I was shocked to see two debit cards among the six of us. My friends are millennials, and they're generally pretty good with money. They're all frequent travelers, and love to spend money on experiences like <a href="https://www.businessinsider.com/best-credit-cards-for-dining-restaurants-food">dining out</a>. While one of my friends is very loyal to the <a href="https://www.businessinsider.com/capital-one-venture-card-review">Capital One Venture</a> card and I'm a <a href="https://www.businessinsider.com/united-explorer-card-review">United Explorer card</a> fanatic, not everyone has found the right card yet. They're all smart and savvy people, and it surprised me when I saw some of them <a href="https://www.businessinsider.com/airline-credit-card-for-travel-rewards-united-mileageplus-explorer">missing out on all that credit cards have to offer</a>.Later, I found out that my friend group was pretty representative of the larger population: About 23% of millennials don't carry a credit card, according to <a href="https://www.prnewswire.com/news-releases/td-banks-annual-consumer-spending-index-reveals-credit-knowledge-gap-exists-among-millennials-300810766.html'">TD Bank's Annual Consumer Spending Survey</a>. And that means many millennials are leaving big rewards on the table.I do need to add, here, that it's responsible credit card use that earns rewards and <a href="https://www.businessinsider.com/how-to-increase-your-credit-score-improve-credit">builds your credit</a> - paying your bill in full and on time. Essentially, it's smart to treat your credit card like a debit card, using it only to spend money you have ... with the potential for much more benefit than an actual debit card.<h2>Airline rewards cards can be a big upgrade for frequent travelers</h2>I'm a big fan of airline reward cards. They've helped <a href="https://www.businessinsider.com/airline-credit-card-makes-travel-more-luxurious">make flying more enjoyable</a>, and have helped me take <a href="https://www.businessinsider.com/airline-credit-card-points-helped-me-afford-travel">vacations when I couldn't afford to</a>. I really can't imagine ever using my debit card regularly again. There are a lot of advantages to having an airline credit card, from earning free trips to just having TSA Pre-Check or Global Entry fees covered by your card. <a href="https://www.businessinsider.com/millennials-spend-5000-on-vacation-age-group-spends-the-most-on-travel-but-gen-z-isnt-far-behind-2019-4">Travel is a big priority</a> for many millennials, and it is among my friend group as well. These cards can help make travel incredibly affordable, and increasingly possible. <h2>Other types of rewards, like cash back, can add up</h2>At the very least, a no-annual-fee cash-back card is a good way to get a small return for just pulling a different card out of your wallet. While many airline credit cards have a fee associated with them, many <a href="https://www.businessinsider.com/best-cash-back-credit-cards">cash back cards</a> don't, like <a href="https://www.businessinsider.com/chase-freedom-credit-card-review">Chase's Freedom</a> and <a href="https://www.businessinsider.com/chase-freedom-unlimited-review">Freedom Unlimited cards</a>.Cash-back cards can help you get free cash that you wouldn't get through making purchases on a debit card. Unlike airline miles, these rewards can be used for pretty much anything, including knocking down your bill. <h2>Debit cards just don't have much benefit</h2>I can't see the value in ever using a debit card after having my airline credit card for just over a year and a half, and using a cash-back card occasionally as well. It's not necessary to have multiple credit cards to see benefits, either - even just having one can put money in your pocket that a debit card couldn't. Credit cards can be a tool for building credit and harnessing rewards when used responsibly, and debit cards can't rival that.<ul class="read-more-links"><li>More <a href="https://www.businessinsider.com/category/credit-cards">credit card</a> coverage</li><li><a href="https://www.businessinsider.com/best-airline-credit-card-comparison-delta-united-american">What's the best airline credit card?</a></li><li><a href="https://www.businessinsider.com/best-cash-back-credit-cards">The best cash-back credit cards</a></li><li><a href="https://www.businessinsider.com/southwest-credit-card-comparison-which-to-get">Southwest credit card review</a></li><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">Best rewards credit cards</a></li></ul><a href="https://www.businessinsider.com/generation-z?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_hub&amp;itm_content=millennials&amp;itm_campaign=generation-z-2"></a>

I was shocked to see my friends pay a restaurant bill with debit cards, but it turns out they're perfectly representative of millennials on the whole

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="YouTube" title_caption="Imagine all of your cards in on" class="zoomin" href="http://static3.businessinsider.com/image/528e7ed06da81111066392b1-960/coin-smart-card-2.png"></a><a href="http://www.youtube.com/watch?v=w9Sx34swEG0">YouTube</a>Imagine all of your cards in on</div></div>There's a new startup that's looking to completely reorganize your wallet.
<a href="https://onlycoin.com/" target="_blank">It's called Coin</a>. We first got wind of it last week when the company made a big splash in the tech press with <a href="http://www.businessinsider.com/coin-payments-app-2013-11" target="_blank">the unveiling of its $100 "smart" credit card.</a>
We talk about a lot of companies that claim to be changing the way we handle payments. <keyword id="6378918" type="ORGANIZATION" weightage="60" keywordseo="Coin">Coin</keyword> is different - they're just making the current system better by reducing the number of cards we need to have with us at any given time.

See How This 'Smart' Credit Card Will Replace Almost Every Card In Your Wallet

What if someone said you could collect the long forgotten Bank Royalty points, Corporate Reward points and e-Wallet cash, and splurge it on shopping, dining or that vacation you were planning? 
 
Woohoo lets you do just that. It’s an app that aggregates multiple payment options in a single platform for consumers to transact at various online and offline retail outlets. 
 
The company has currently partnered with 50+ brands. This lets a Woohoo user access 3000+ stores and portals. The list includes apparel and accessories stores like Allen Solly, Westside, Fastrack, Hidesign, Restaurant chains like Noodle Bar, Mani's Dum Biryani, or Entertainment and leisure outlets like PVR, Cleartrip and others. The brand has no mobile recharge partners as yet. 
 
You could choose to pay using mobile wallets like MobiKwik and Oxigen, Payback Loyalty points, Hifives reward points and many other available options. 
 
So what is the potential market for a product like Woohoo in a country not savvy enough to use wallet services extensively? 
 
“There is a lot of ongoing category creation. India has been leapfrogging the Western world in terms of consumers using their mobile phones for diverse purposes. Anybody who wants to shop or gift online or offline is a potential Woohoo user”, T P Pratap, Co-founder and CMO, of parent company Qwikcilver says. 
 
Can users combine two wallet accounts to pay for a single service, say a movie ticket? 
 
“You have an option to do that. A unique Woohoo code will be generated for each of the wallet accounts. The two can then be used at the movie theater for booking the ticket”, Pratap clarifies. 
 
Make no mistake; Woohoo is not where you book that movie seat or restaurant table or the nice stilettos you saw online. The app only generates a code that can be used as an alternative mode of payment in place of your credit/debit card. 
 
Does it bring more peace of mind to people fumbling to jump onto the Indian e-commerce wagon in fear of divulging sensitive credit/debit card information? 
 
“Consumers are already freer than a few years ago. This method of payment gives them the first step to get over their anxieties of electronic payments”, Pratap observes. 
 
So what’s the way forward for Woohoo? 
 
“There are more currencies coming up, and the option of using credit/debit card for gifting. We’re looking to have 15,000-20,000 brands including Amazon, Snapdeal and Café Coffee Day onboard over the next six months”, Pratap says. 
 
In a country that salivates for discounts and prides itself in striking a bargain, if you don’t mind your money being tied up in an online wallet, you can now spoil yourself with indulgences minus the guilt of blowing more cash. 
 
(Image credit: Indiatimes)

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