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Showing posts from November, 2018

HOW TO USE CREDIT CARD ? MAKE A DIFFERENCE IN ONLINE PURCHASE WITH YOUR CREDIT CARD.

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Theoretical explanation : A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees.

A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers a…

WHAT IS GDPR ?

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1. What is GDPR?

GDPR or General Data Protection Regulation, is a new framework for data protection laws in Europe – it will replace the old 1995 data protection issue, which is based on the current UK law. GDPR will be effective from May 25, 2018.

This rule empowers citizens and consumers in the emerging digital economy to determine how companies use their data. With GDPR, the data protection rules will be uniform in the entire European Union (EU), which has 28-member states.

2. Which companies are affected by GDPR?

Data protection rules will apply to all the businesses operating in the EU, even if they do not have any physical presence within the EU. Any company that stores or processes personal information about European citizens within or outside EU states will comply with GDPR.

New rules will be very difficult and fines will be imposed on companies which are not found to be complying with the new GDPR rules.

Specific criteria for companies on which GDPR is applicable:

Having pre…