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Learn About Your Mastercard’s Security Features

Multilayer security includes fraud monitoring and resolution if your ID is compromised.

Mastercard boasts that it’s the world’s fastest payment network, safely processing payments among banks and merchants. Each Mastercard in your wallet is issued by a financial institution like a bank and is protected under that institution’s own safety regulations. Nevertheless, all cards are part of Mastercard’s multilayer security designed to help keep your account safe.

What security features come with Mastercard credit cards?

These are the main security features and services provided by Mastercard credit cards:

  • Chip technology. A chip is embedded inside each credit card to enhance payment security. This chip creates unique data with each new transaction, and it also makes counterfeiting much more difficult.
  • Zero liability policy. This policy protects you from unauthorized transactions made in stores, online, on your mobile device or over the phone. With reasonable care to protect your card against loss and theft and prompt reporting to your card provider, you aren’t liable for transactions at the hands of someone else.
  • Identity theft resolution. Get help resolving identity theft 24/7 at 1-800-307-7309 or call collect at 1-636-722-7111. Its certified resolution specialists help you notify relevant credit bureaus to cancel your compromised card and arrange for a replacement.
  • SecureCode. Select card issuers offer this service that enhances the security of online transactions when you’re shopping at participating online stores. This extra step at checkout results in a code received by text that you enter before your purchase can be processed.
  • Tokenization. Translate chip technology into the online environment with this process that replaces your Mastercard account number with a unique token good for an online, mobile or contactless payments.

Are Mastercard’s contactless payments secure?

Mastercard contactless payment

Contactless payments come with encryption that is unique to every purchase. And since the card or your mobile device doesn’t leave your hand, it reduces the risk of loss or counterfeit. In case you tap twice by accident, Mastercard will make sure to bill you only once. This makes the payment method one of the safest ways to pay.

Contactless payments are just as popular in Canada as regular debit and credit card transactions. Smartphone technology and apps such as Google Wallet and Apple Pay allow contactless payments from your mobile phone or other smart devices. These methods are also covered by Mastercard’s Zero Liability policy and tokenization.

Other credit card security features

Security features offered by your credit card issuer can include a selection of features that include:mastercard cc logo

  • Chips and physical security. Your unique account number, 3-digit CVV code, signature panel, hologram and account name work together to keep your card secure.
  • Fraud monitoring. Most card issuers offer specialized teams that routinely monitor your account for fraud, reporting and investigating irregular transactions immediately. Many issuers also call or text to confirm that it was you who authorized a purchase.
  • Chargebacks. If you discover an error or suspicious charge on your statement or fail to receive the merchandise you’ve paid for, you can start an investigation on your behalf. Your card provider may initiate a dispute with a merchant to reverse the transaction.

Compare Mastercard credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
Neo Secured Mastercard
15% cash back
4% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 4% cashback at thousands of partners and at least 0.5% cashback guaranteed.
BMO Ascend World Elite Mastercard
90,000 points
Up to 5x points per $1 spent
20.99%
$0 annual fee for the first year ($150 thereafter)
Min. recommended credit score: 760
Get up to 90,000 points and get the $150 annual fee waived in the first year.
BMO CashBack World Elite Mastercard
Up to 10% cash back
1% cash back
20.99%
$0 annual fee for the first year ($120 thereafter)
Min. recommended credit score: 760
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
BMO U.S. Dollar Mastercard
N/A
N/A
20.99%
$35 USD
Min. recommended credit score: 725
When your purchases total US$1,000 or more in a year, the next year's annual fee (US$35) is rebated to your card.
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Bottom line

Mastercard adopts intelligent safeguards to protect your card, your purchases and your identity. If you lose your Mastercard credit card or notice something fishy on your account, contact your card issuer to report it. You aren’t held liable for unauthorized or fraudulent activity.

Check out our guide to credit card security to learn more about privacy, types of fraud and how card providers protect you from unauthorized access to your account.

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