Spending limits

Several UK banks are planning to offer credit cards with lower spending limits, specifically for use when shopping online in a bid to curb web-based fraud. Under UK law, cardholders may be held liable for the first UK£50 lost in any unauthorised transaction. The new cards are likely to have credit limits of less than UK£500 and could only be used on the Internet. Mastercard is also to launch an online certification scheme that will badge sites which satisfy integrity and security criteria. Sites which give rise to a high number of complaints will not be accredited.