USA scenario here: say I have a $2000 car repair bill and use my debit card.
Can’t be bothered to put in my pincode so I hit credit, payment goes through without pincode.
Why does the consumer have the option to pick here?
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There are certain options that are only available as one or the other. Like you can pick debit and get cash back, but you have to know the pin. Credit is easier because you don’t have to know the pin, which means you can hand your card to someone else to pay for something. They can also have different limits applied to them, which can vary per bank and you can call to request that it be changed.
As a cybersecurity guy in the financial sector, I have to offer this guidance though: never use your debit card for anything other than using an ATM of a reputable bank. Use credit cards (not debit card in credit mode – actual credit cards) for everything else. I understand that not everyone has that option for various reasons though, which is why I called it guidance and not a rule.
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