Card Protection Plan (CPP) for Businesses

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Protect Debit/Credit Cards from Fraud

PRODUCT OVERVIEW

What is a Card Protection Plan (CPP)?

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.

Banking Products

Enhance savings accounts, salary accounts, and premium banking offerings with integrated card protection benefits.

Credit Card Programmes

Provide customers with fraud protection, emergency assistance, and single-call card blocking services for credit cards.

Debit Card Offerings

Strengthen debit card security with protection against theft, phishing, skimming, and unauthorised transactions.

Digital Wallet Platforms

Enable secure wallet ecosystems with mobile wallet fraud protection and emergency customer assistance services.

Fintech Applications

Integrate embedded card protection solutions within fintech apps to improve customer trust and platform value.

REASONS

Why Businesses Should Offer CPP Solutions

Improve Customer Confidence in Digital Payments

Offer customers a dedicated protection layer against card fraud, phishing, and unauthorised transactions.

Create Additional Fee-Based Revenue Opportunities

Embedded CPP programmes can support new revenue streams through value-added protection offerings attached to cards, accounts, and premium banking products.

Enhance Premium Banking & Card Offerings

Differentiate credit cards, debit cards, and priority banking programmes with fraud assistance, emergency support, and card protection benefits.

Reduce Customer Support Burden During Fraud Incidents

Single-call card blocking and centralised assistance services help simplify customer response during fraud or card-loss situations.

Increase Engagement Across Existing Customers

Protection-led offerings can improve usage and engagement among digitally active customers using cards, wallets, and payment apps regularly.

Enable Faster Go-to-Market Through Digital Integration

CPP solutions can be integrated within existing onboarding and payment journeys, reducing operational complexity for issuers and fintech platforms.

Improve Customer Confidence in Digital Payments

Offer customers a dedicated protection layer against card fraud, phishing, and unauthorised transactions.

Create Additional Fee-Based Revenue Opportunities

Embedded CPP programmes can support new revenue streams through value-added protection offerings attached to cards, accounts, and premium banking products.

Enhance Premium Banking & Card Offerings

Differentiate credit cards, debit cards, and priority banking programmes with fraud assistance, emergency support, and card protection benefits.

Reduce Customer Support Burden During Fraud Incidents

Single-call card blocking and centralised assistance services help simplify customer response during fraud or card-loss situations.

Increase Engagement Across Existing Customers

Protection-led offerings can improve usage and engagement among digitally active customers using cards, wallets, and payment apps regularly.

Enable Faster Go-to-Market Through Digital Integration

CPP solutions can be integrated within existing onboarding and payment journeys, reducing operational complexity for issuers and fintech platforms.

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.

RBI Digital Payment Security Guidelines

CPP programmes should support secure digital payment practices in line with RBI regulations for fraud prevention, transaction monitoring, and customer protection.

Customer Liability Framework

Coverage applicability and customer compensation may depend on reporting timelines, negligence assessment, and RBI-defined zero-liability or limited-liability scenarios.

Data Privacy & Information Security

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-Linked Verification Processes

KYC-based customer verification may support fraud investigation workflows, onboarding validation, transaction authentication, and claim assessment processes.

Grievance Redressal Obligations

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.

What is Covered

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.

What is Not Covered

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.

Multi-Insurer Partnerships

Coverfox helps businesses offer Card Protection Plan solutions through a wide network of IRDAI-approved insurers and assistance service providers.

Simplified Digital Integration

Enable faster deployment of CPP solutions across banking platforms, fintech journeys, and digital payment ecosystems.

Customised Business Solutions

Build tailored card protection programmes based on customer segments, product types, and distribution requirements.

Embedded Protection Journeys

Integrate CPP offerings within existing credit card, debit card, wallet, and payment onboarding experiences.

CLAIMS

Claim Process for Card Protection Plan

Coverfox will assist the policyholder with the claim resolution. The employer must follow these steps to raise a claim for WC policy through Coverfox:

Report the Incident

Inform Coverfox at help@coverfox.com about the card loss, theft, or fraudulent activity.

Submit Claim Details

Provide incident details, transaction information, and policy-related documents to initiate the claim.

Claim Coordination

Coverfox coordinates with the insurer or assistance partner and guides the customer through the claim process

Document Verification

The insurer or assistance provider reviews the submitted documents as part of the claim assessment.

Claim Evaluation and Resolution

FRAUDS

Common Card & Payment Fraud Scenarios

Phishing Fraud

Fraudulent attempts where customers are tricked through fake emails, websites, or messages to share confidential banking information.

Tele-Phishing Fraud

Unauthorised transactions resulting from fraudsters impersonating banks or financial institutions over phone calls.

PIN-Based Fraud

Losses arising from unauthorised transactions performed using compromised debit or credit card PINs.

Skimming Fraud

Fraud caused by illegal skimming devices used to steal card information during ATM or POS transactions.

Why should financial institutions offer Card Protection Plan solutions?

Card Protection Plan solutions help financial institutions enhance customer trust, strengthen product value, and improve customer engagement through value-added protection services.

Can Card Protection Plans support multi-card users?

Yes, CPP solutions are designed to help customers manage and secure multiple debit and credit cards through a single assistance platform.

Do CPP solutions only apply to physical cards?

No, modern CPP solutions can also extend protection support for digital wallets, online transactions, and mobile-based payment ecosystems.

Can businesses customise Card Protection Plan benefits?

Yes, businesses can customise assistance services, fraud protection features, coverage structures, and customer journeys based on their requirements.

Are CPP solutions suitable for fintech and digital payment platforms?

Yes, fintech companies and digital payment platforms can integrate CPP solutions to strengthen customer security and improve digital payment confidence.

How do Card Protection Plans improve customer experience?

CPP solutions provide customers with faster assistance, simplified card blocking support, fraud protection services, and emergency assistance during financial disruptions.

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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.

Card Protection Plan (CPP) for Businesses

Protect Debit/Credit Cards from Fraud

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What is a Card Protection Plan (CPP)?

Card Protection Plan Integrations

Banking Products

Credit Card Programmes

Debit Card Offerings

Digital Wallet Platforms

Fintech Applications

Why Businesses Should Offer CPP Solutions

Improve Customer Confidence in Digital Payments

Create Additional Fee-Based Revenue Opportunities

Enhance Premium Banking & Card Offerings

Reduce Customer Support Burden During Fraud Incidents

Increase Engagement Across Existing Customers

Enable Faster Go-to-Market Through Digital Integration

Improve Customer Confidence in Digital Payments

Create Additional Fee-Based Revenue Opportunities

Enhance Premium Banking & Card Offerings

Reduce Customer Support Burden During Fraud Incidents

Increase Engagement Across Existing Customers

Enable Faster Go-to-Market Through Digital Integration

Regulatory & Compliance Considerations

RBI Digital Payment Security Guidelines

Customer Liability Framework

Data Privacy & Information Security

KYC-Linked Verification Processes

Grievance Redressal Obligations

What is Covered & Not Covered

What is Covered

What is Not Covered

Why Choose Coverfox for Card Protection Plan (CPP) Solutions?

Multi-Insurer Partnerships

Simplified Digital Integration

Customised Business Solutions

Embedded Protection Journeys

Claim Process for Card Protection Plan

Report the Incident

Submit Claim Details

Claim Coordination

Document Verification

Claim Evaluation and Resolution

Common Card & Payment Fraud Scenarios

Phishing Fraud

Tele-Phishing Fraud

PIN-Based Fraud

Skimming Fraud

Frequently Asked Questions

Protect your Card Protection Plan