Learn About Your Mastercard’s Security Features

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

Updated

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.

BMO World Elite Mastercard

BMO World Elite Mastercard

19.99 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

BMO World Elite Mastercard

Apply today and earn a bonus of up to 35,000 BMO Rewards points in the first 3 months.

  • Purchase interest rate: 19.99%
  • Cash advance rate: 22.99%
  • Annual fee: $150
  • Credit rating: Excellent
  • Minimum age: Age of majority in the province/territory of residence.
Go to site
Promoted

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 Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Benefits with this card Description
HSBC +Rewards™ Mastercard®
11.9%
11.9%
$0 annual fee for the first year ($25 thereafter)
N/A
Earn 2 Points for every $1 spent on eligible dining or entertainment purchases.
Earn 10,000 Points ($50 travel value). Plus, get a full annual fee rebate for the Primary Cardholder for the first year. Apply by June 29, 2020. This offer is only available to residents of Canada other than the province of Quebec. Conditions apply.
BMO World Elite Mastercard
19.99%
22.99%
$0 annual fee for the first year ($150 thereafter)
$80,000
Get 3 BMO Rewards points per $1 spent on eligible travel, dining and entertainment purchases (up to $50,000 spend annually), and get 2 BMO Rewards points per $1 spent on all other eligible purchases (and once you reach the $50,000 annual spend).
Earn a bonus of up to 35,000 BMO Rewards points with a minimum spend of $3,000 on eligible purchases in the first three months of card membership ($250 travel value to be used towards a flight booked through bmorewards.com). Plus, get the $150 annual fee waived in the first year.
HSBC World Elite® Mastercard®
19.9%
22.9%
$0 annual fee for the first year ($149 thereafter)
$80,000
Earn 3% in travel rewards on all eligible travel purchases (6 Points per $1 spent) and earn 1.5% in travel rewards on all other eligible purchases (3 Points per $1 spent).
Earn up to 60,000 Points ($300 travel value). Plus, get a full annual fee rebate for the Primary Cardholder for the first year. Apply by June 29, 2020. This offer is only available to residents of Canada other than the province of Quebec. Conditions apply.
BMO Preferred Rate Mastercard
12.99%
12.99%
$20
$15,000
Take advantage of an introductory balance transfer offer, annual fee waiver in the first year, and low purchase and cash advance interest rates.
Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year.
Shell AIR MILES Mastercard from BMO
19.99%
22.99%
$0
$15,000
Get 2 AIR MILES for every $20 spent at participating AIR MILES Partners, and get 1 AIR MILE for every $20 spent on eligible purchases elsewhere.
Get 800 AIR MILES Bonus Miles.
Shell AIR MILES World Mastercard from BMO
19.99%
22.99%
$99
$60,000
Earn 1.25 AIR MILES reward miles at Shell stations in Canada and 1 mile per $15 spent for all other purchases.
Earn 1.25x Miles on card purchases at participating Shell stations in Canada and 1 mile per $15 spent for all other purchases.
BMO CashBack World Elite Mastercard
19.99%
22.99%
$0 annual fee for the first year ($120 thereafter)
$80,000
Earn 1.5% cash back on all eligible purchases.
Get up to 5% cash back on all eligible purchases made within the first 3 months (up to a maximum spend of $4,000). Plus, get the first year annual fee of $120 waived.
Shell CashBack Mastercard from BMO
19.99%
22.99%
$0
$15,000
Get 1.5% cash back at participating Shell locations in Canada (up to a maximum spend of $2,500 in any monthly billing period), and get 0.5% cash back everywhere else.
Get $50 in cash back bonuses once you charge your first eligible purchase to your card. Plus, earn 1% cash back for the first 6 months on all eligible purchases.
BMO Rewards Mastercard
19.99%
22.99%
$0
$15,000
Get 1 BMO Reward point for every $1 spent on eligible purchases, and get 2 BMO Rewards points for every $1 spent at participating National Car Rental and Alamo Rent A Car locations.
Earn a bonus of up to 20,000 BMO Rewards points. Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
BMO IGA AIR MILES Mastercard
19.99%
22.99%
$0
$15,000
Get 2 AIR MILES for every $20 spent on eligible purchases at IGA stores and at participating AIR MILES partners, and get 1 AIR MILE for every $20 spent elsewhere.
Get 800 AIR MILES Bonus Miles.
loading

Compare up to 4 providers

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.

Back to top

Ask an Expert

You must be logged in to post a comment.

Go to site