Ways To Ensure Safe Online Payments

With the Indian e-comm space continuously expanding and acquiring, more and more Indian customers are moving away from the conventional way of shopping in brick and mortar stores to shopping in these virtual online shopping malls. This, combined with demonetisation, has resulted in a sudden spike in the number of digital payments made in the past year alone compared with previous years. These include different payment types, such as debit or credit cards, net banking, mobile wallets, UPI, etc.

We are exposed to various risks of fraud during online transactions, such as identity theft, loss of money and financial details, and phishing scams. Because in today’s world, there is no escape from making online payments, one must take adequate precautions, both offline and online, to protect their hard-earned money.

Following are some simple precautions you could take to ensure the digital protection of your money:

  • Check for HTTPS: Much like someone outside your house could sniff your docs or confidential mail from the mailbox. If left unlocked, someone could even eavesdrop on your internet connexion while logging in to an unsecured website. And if someone tracks your link for long enough, they can get access to any data you send or receive or store on that platform. Most email systems, social networks, blogging sites, etc. run on a safe and secure protocol, called HTTPS, to avoid this breach of security. Known as the Hyper-Text Transfer Protocol over Transport Layer Security or HTTPS, this security protocol. This means, in simple terms, end-to-end encryption of all data shared between you and the servers of the website.
  • Use a dedicated computer: If the volume of your net banking transactions is significantly high, then you might even consider having a dedicated pc for that purpose only. We advise you to use HTTPS enforced browsers as well as an anti-virus software installed on your computer. Keep the dedicated machine clean: avoid it for social networking or casual surfing.
  • Do not fall for online shopping frauds: Apart from fraudulent online purchases, many are also becoming increasingly victims of online shopping frauds, where customers end up paying in full but do not receive the products as advertised or receive fakes. One must beware of such fake online vendors and dubious e-commerce websites to avoid a similar ordeal.
  • Avoid public Wi-Fi: Do not do any mobile banking transactions over public Wi-Fi. Typically these are unsecured networks where anyone can access without even having a network password. These networks are not very well secured against hackers who can easily access a public Wi-Fi network and steal the information of your username.

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