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Card Protection Plan (CPP) for Businesses
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PRODUCT OVERVIEW
Card Protection Plan (CPP) is a value-added protection solution that helps banks, NBFCs, fintech companies, and payment service providers safeguard customers, block multiple payment cards, access fraud assistance, and receive support during card theft, loss, or unauthorised transaction incidents. The solution enables customers to block multiple debit and credit cards through a single assistance platform while also offering protection against phishing, skimming, PIN-based fraud, digital wallet fraud, and unauthorised transactions. CPP solutions also enhance the overall customer experience by offering emergency travel assistance, SIM blocking services, PAN card replacement support, and mobile wallet protection. For financial institutions, integrating Card Protection Plans helps strengthen customer trust, improve retention, enhance product value, and create additional non-interest revenue opportunities through embedded protection services.
INTEGRATIONS
Enhance savings accounts, salary accounts, and premium banking offerings with integrated card protection benefits.
Provide customers with fraud protection, emergency assistance, and single-call card blocking services for credit cards.
Strengthen debit card security with protection against theft, phishing, skimming, and unauthorised transactions.
Enable secure wallet ecosystems with mobile wallet fraud protection and emergency customer assistance services.
Integrate embedded card protection solutions within fintech apps to improve customer trust and platform value.
REASONS
Offer customers a dedicated protection layer against card fraud, phishing, and unauthorised transactions.
Embedded CPP programmes can support new revenue streams through value-added protection offerings attached to cards, accounts, and premium banking products.
Differentiate credit cards, debit cards, and priority banking programmes with fraud assistance, emergency support, and card protection benefits.
Single-call card blocking and centralised assistance services help simplify customer response during fraud or card-loss situations.
Protection-led offerings can improve usage and engagement among digitally active customers using cards, wallets, and payment apps regularly.
CPP solutions can be integrated within existing onboarding and payment journeys, reducing operational complexity for issuers and fintech platforms.
Offer customers a dedicated protection layer against card fraud, phishing, and unauthorised transactions.
Embedded CPP programmes can support new revenue streams through value-added protection offerings attached to cards, accounts, and premium banking products.
Differentiate credit cards, debit cards, and priority banking programmes with fraud assistance, emergency support, and card protection benefits.
Single-call card blocking and centralised assistance services help simplify customer response during fraud or card-loss situations.
Protection-led offerings can improve usage and engagement among digitally active customers using cards, wallets, and payment apps regularly.
CPP solutions can be integrated within existing onboarding and payment journeys, reducing operational complexity for issuers and fintech platforms.
REGULATORY & COMPLIANCE
Businesses offering CPP insurance should align fraud assistance and customer support workflows with RBI guidelines related to unauthorised electronic banking transactions, digital payment security, and customer liability frameworks.
CPP programmes should support secure digital payment practices in line with RBI regulations for fraud prevention, transaction monitoring, and customer protection.
Coverage applicability and customer compensation may depend on reporting timelines, negligence assessment, and RBI-defined zero-liability or limited-liability scenarios.
Businesses should implement secure handling of customer data, fraud records, and payment information through robust cybersecurity and data protection practices aligned with regulatory expectations.
KYC-based customer verification may support fraud investigation workflows, onboarding validation, transaction authentication, and claim assessment processes.
Financial institutions and assistance providers should maintain structured grievance redressal mechanisms, complaint escalation channels, and timely dispute resolution processes as part of customer protection compliance.
INCLUSIONS & EXCLUSIONS
Online & Phishing Fraud Protection
Provides coverage against unauthorised online transactions, phishing attacks, and telephishing fraud involving linked payment cards.
PIN-Based & Skimming Fraud Cover
Protects customers against fraudulent transactions caused by PIN compromise, skimming devices, or counterfeit card usage.
Mobile Wallet Fraud Protection
Covers financial losses arising from unauthorised transactions through connected digital wallets and payment applications
Single-Call Card Blocking Assistance
Enables customers to block multiple debit and credit cards instantly through a dedicated 24/7 helpline service.
Emergency Travel & Hotel Assistance
Offers emergency travel support, hotel assistance, and related services during wallet or card loss incidents while travelling.
Forgery-Related Losses
Losses occurring directly or indirectly due to forgery-related activities are not covered under the plan.
Claims During Intoxication
Losses sustained while under the influence of liquor, drugs, or other intoxicating substances are excluded from coverage.
Delayed Loss Reporting
Claims arising from incidents not reported within the specified reporting timeline may not be considered.
Intentional Fraudulent Activities
Any fraudulent activity committed intentionally by the cardholder or authorised individuals is excluded.
Non-Covered Transactions
Transactions falling outside the defined policy scope, insurer terms, or approved fraud categories are not covered.
Expired or Inactive Coverage Period
Losses occurring after policy expiry or outside the active membership period are not eligible for claims.
COVERFOX EDGE
Coverfox helps businesses offer Card Protection Plan solutions through a wide network of IRDAI-approved insurers and assistance service providers.
Enable faster deployment of CPP solutions across banking platforms, fintech journeys, and digital payment ecosystems.
Build tailored card protection programmes based on customer segments, product types, and distribution requirements.
Integrate CPP offerings within existing credit card, debit card, wallet, and payment onboarding experiences.
CLAIMS
Coverfox will assist the policyholder with the claim resolution. The employer must follow these steps to raise a claim for WC policy through Coverfox:
Inform Coverfox at help@coverfox.com about the card loss, theft, or fraudulent activity.
Provide incident details, transaction information, and policy-related documents to initiate the claim.
Coverfox coordinates with the insurer or assistance partner and guides the customer through the claim process
The insurer or assistance provider reviews the submitted documents as part of the claim assessment.
The insurer evaluates the claim based on policy terms and coverage conditions before processing approved claims or assistance requests.
FRAUDS
Fraudulent attempts where customers are tricked through fake emails, websites, or messages to share confidential banking information.
Unauthorised transactions resulting from fraudsters impersonating banks or financial institutions over phone calls.
Losses arising from unauthorised transactions performed using compromised debit or credit card PINs.
Fraud caused by illegal skimming devices used to steal card information during ATM or POS transactions.
Card Protection Plan solutions help financial institutions enhance customer trust, strengthen product value, and improve customer engagement through value-added protection services.
Yes, CPP solutions are designed to help customers manage and secure multiple debit and credit cards through a single assistance platform.
No, modern CPP solutions can also extend protection support for digital wallets, online transactions, and mobile-based payment ecosystems.
Yes, businesses can customise assistance services, fraud protection features, coverage structures, and customer journeys based on their requirements.
Yes, fintech companies and digital payment platforms can integrate CPP solutions to strengthen customer security and improve digital payment confidence.
CPP solutions provide customers with faster assistance, simplified card blocking support, fraud protection services, and emergency assistance during financial disruptions.
Disclaimer
Card Protection Plan (CPP) solutions are offered subject to insurer terms, policy conditions, fraud reporting timelines, and applicable exclusions. Coverage, benefits, limits, and eligibility may vary depending on the insurer, assistance provider, and selected protection plan. Coverfox acts as an insurance broker and facilitation partner for insurance and assistance services.
