Preventing Fraud! Proposal to Delay Credit Card Transactions by 24 Hours Raises Concerns

Reported 8 months ago

To prevent fraud, the banking association has proposed to the Financial Supervisory Commission to delay credit card transactions, including purchases of game points, e-wallet top-ups, and electronic gift vouchers by 24 hours. This new measure aims to be implemented by the end of 2024, but scholars advise understanding the impact on banks, businesses, and consumers to avoid inconvenience. The proposal includes assigning specific transaction codes for the three types of transactions and requiring a 24-hour wait for single transactions above a certain amount to be used, raising concerns among gamers who make immediate high-value transactions for competitive gaming purposes.

Source: YAHOO

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