Money On the Go: How Secure are Online Payment Apps

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Digital safety is equivalent to our real-life one. As we move our lives to online frontiers, more and more of our data winds up on various sites. Shopping on Amazon, paying for streams, playing online, booking a hotel room, renting cars, etc. All these actions require us to enter our data and share confidential financial information. Trust is necessary to form bonds between any service provider and customer, where companies have a responsibility to prioritize user data, and users can also do plenty from their end to help and protect themselves.

Whenever we play online and in online casinos we need to enter our credit card, digital wallet, or other financial information to deposit or withdraw funds. In an article by Sergio Zammit, any online casinos that accept cash apps apply complex encryption and fraud detection software, elevating their user security to the next level. As such, modern online casinos create a safe gaming environment and allow players to enjoy their privacy and safety. Would-attackers can try to access our online payment apps on two fronts. Offline, where our mobile devices can get stolen, lost, or hacked, and online where other various dangers lurk.

Luckily, many security features exist to thwart attackers. 2FA (two-factor authentication) and PIN codes are robust but reliable ways to prevent access to your phone. While these are great, users who seek more safety can go the extra mile and opt for fingerprint, face, or retina scanners, allowing only them to access their phone and even certain apps. Online payment apps can require scans before any transaction is made or received and even ask for codes or confirmations, making it nearly impossible for hackers to steal or access your data.

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Tokenization feature issues protective randomly generated keys for each transaction, which are only visible or available to the end user. When each online transaction in an app has a token behind it, it becomes that much easier to track and control it. Everything mentioned above makes online payments more secure, but crafty attackers can use advanced social engineering techniques to bypass any digital obstacle. Social engineering entrails phishing methods, where attackers communicate with potential victims and try to get them to reveal confidential and personal data. False emails or pretending to be official administrators and fake IDs are some methods hackers can use when social engineering and preparing a potential attack.

When the unfortunate victim reveals their data, attackers can piece together access credentials and make a legitimate login attempt. Raising awareness and education remains the best way to stop such attacks and hold their attempts. Mobile users who attempt online payments should always double-check websites and apps and always resort to official and recommended places. Users can regain control over their mobile devices with their online payment apps by keeping them safe behind strong passwords.

Long passwords containing special characters, an unusual combination of numbers and letters, and upper and lower case symbols make devices secure, and attackers use far more resources in future attempts to breach mobile devices. If an attempt is made to steal a physical device or a mobile phone gets lost, users still have the option to keep their data safe and even retrieve what was lost. Backup tracking apps can show the GPS location of your phone, and with remote control, the device can be artificially bricked, keeping all data and transactions on it safe. Even rendering the device useless to attackers is a better preference to any highly valued data being stolen, as it can always be retrieved via backups, and buying a new phone is far easier than recovering lost data and funds.

 

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About the Author: Thurman Hunter