Irrespective of how you buy a customer is usually well protected in case
of a credit card. You are supposed to report a lost credit card within
72 hours and any transaction happening in that period will not be billed
to you above a certain limit - I believe that amount is Rs 50 or Rs 150
or something. Ofcourse if you lost the card and didnt report it then you
are billed for every transaction.
Even if you are billed you can claim that you didnt actually buy the
product. In such situation the Bank who made the payment to the
shopkeeper has to show Proof Of Delivery (POD). This is usually the
yellow peice of paper you put your signature on when you accept the
bill. Or if you bought it online or through telephone then the
acknowledgement slip of the shippment.
Instead of worry about fraud online I would say one should worry more
about the waiter in the restaurant or the guy on the telphone.
By the way one of the areas making the maximum loss on credit cards are
the adult websites. Most people will simply not accept they made a
transaction like that and since it is a digital product there is no
proof of delivery and the website has to lick its wounds and just cancel
the account after the guy has gone through his site for almost a month
:).
Mithun
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