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Beware of pitfalls when buying goods online

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(Shutterstock)
(Shutterstock)

A Fin24 user is not sure what the implications are when he buys overseas goods online. He writes:

I would like to buy goods from an overseas online store. I do not know about the implications of the transaction.

READ: SA e-commerce 'grows up'

An Absa spokesperson responds:

One of the benefits of a card payment is that it allows cardholders to transact seamlessly anywhere in the world with the certainty that the payment is supported by an international network of interconnected service providers.

Cardholders are able to purchase goods or services online from any overseas merchant website using their credit card and following the "checkout" process - which may vary from website to website, but is usually done by clicking on the relevant "pay" button.

It is important to keep in mind that not all overseas acquirers (and merchants) are set up with 3D Secure, which is now a mandatory security feature for online shopping in South Africa. 3D secure is an additional authentication process where a onetime pin is sent to cardholders to authorise the transaction.

Customers should always remain vigilant when shopping online, especially internationally, and the best way to protect oneself against cyber-crime is to only purchase off reputable websites.

READ: Focus on African e-commerce industry

Customers can investigate the merchant or website through searching for reviews and customer feedback online. The customer should always check that the web address of the purchase platform starts with “http” or “https”. Customers should also look for a lock icon or picture on the top right of the page, next to the area where you type in the web address.

Once a purchase has taken place, the customer should receive email confirmation that the payment was successful. If the cardholder has set up SMS notifications from their bank, and depending on the amounts they have set notifications for, they should receive this notification on their selected platform from their issuing bank, displaying the amount purchased in rand, inclusive of currency conversion rates and charges.

It is recommended that the customer familiarise themselves with the merchant’s conditions of purchase before concluding the transaction, specifically regarding the non-receipt of goods and services.

ALSO READ: Women are SA's most active online shoppers

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

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