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Is it Safe to Save my Credit Card Online?

July 11, 20205 min read

Cybersecurity

Wannacry, ransomware, and phishing may sound like menacing robots, but they’re actually the latest series of cyber threats hounding the online community. Digital security has become a talking point for many organizations, which continue to spend millions on beefing up their cyber defenses. It doesn’t help that malicious parties are constantly plotting and leveling-up their tactics. It seems like cyber authorities may throw everything except the kitchen sink and they’re still striking with full force!

Confidential information such as credit card details lies at the heart of this digital security saga. This is expected since these precious strings of data literally provide malicious hackers with the keys to your funds. The paranoia is so real that it has been widely taught in cyber hygiene 101 that privileged information should never be cached. 

But how much of this is true? Is there a way to bypass the security threats with a trusty system? Are you supposed to key in the details each time? It is truly frustrating and troublesome if you don’t have said credit card on hand for reference and you’re pressured to make a time-sensitive transaction (these things do happen). 

Hold on to your hats, we might have your ideal solution, but first, we should take a closer look at the basics of data storage. 

Understanding the Basics

All valuable information such as credit card details, personal passwords, or social security numbers is keyed in what we refer to as plaintext form. This type of data is readable by the average human user and hence, easily duplicated and stolen. So the question remains, is it safe to store the details of your credit card online? We believe some brows may be raised at this juncture. 

However, think about it, the storage of credit card details is really one of the greatest innovations in modern times, especially if you’re a frequent shopper. Simply key the details once and you’re free to bask in retail therapy to your heart’s content, swiping from one e-commerce site to another. Most websites, if not all, only store the numbers and expiry dates of credit cards. This means that card owners are still required to manually key in their CVV digits (the confidential three or four-digit numbers at the back of a credit card) to finalize a transaction. That makes it safe right?

In truth, the dangers are still very real. Under normal circumstances, cached credit card details are still easily acquired and manipulated by unauthorized persons. Garden variety scams such as spear-phishing techniques may trick card owners of their CVV details, and you'd be able to guess the rest of that tale. But we did say normal circumstances...

The TeamPassword Solution 

Now, under what we term “improved circumstances” (or the TeamPassword method), your cached passwords will remain under lock and key while still featuring the same level of convenience. How? Glad you asked. 

At TeamPassword, we believe that there is no such thing as being too safe. As such, we’re constantly implementing the latest methods of encryption. Basically, what encryption does is convert your standard plaintext credit card info into a gibberish ciphertext before being uploaded to a server. This means that malicious hackers will find nothing but cyberspace dust if they intercept your data en route. 

But as we’ve alluded, we are always optimizing the security process at every given opportunity. To that end, we ensure your data is locally encrypted before being transferred via encrypted connections for double the protection. Team Password's hosting provider currently offers the latest and safest encryption method (which passes the ISO27001 standards at the point of this writing).  

Additionally, we provide additional security features such as vulnerability sweeps (where we assess and eliminate the gaps in your database), and 2-step verification to affirm that your credit card is being accessed by authorized users. Also, we understand that it is nearly impossible to get around without a digital device so our program is readily accessed from your tablet, mobile, and laptops while you're on the move.

Never worry again about the security of your credit card details with TeamPassword. We’re the most secure and encrypted password manager equipped with the latest technology in safeguarding your precious digital assets. Join the winning team, TeamPassword, to experience the security standards of tomorrow, today.

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