HDFC Bank replacing merchant terminals to avoid card skimming

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HDFC Bk replacing merchant terminals to avoid card skimming
HDFC Bank, India's second largest private sector lender, has been replacing some point of sale machines installed at merchants' place amidst rising number of cases of card skimming.

"We are replacing machines at some merchants," said Parag Rao, the bank's head for credit card and merchant acquiring.

HDFC Bank, which is one of the largest in the merchant acquisition space, has witnessed cases of skimming of late, wherein card data is copied illegally in an otherwise legitimate transaction, to be used fraudulently later.

Besides, Rao said instances of such frauds in India were just 10 per cent of those observed in the country and they had no bearing on the delinquency levels observed in the bank's card portfolio.

Read more about: hdfc bank
Story first published: Wednesday, February 20, 2013, 10:30 [IST]
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