5 Mistakes you Need to avoid while using an Online Payment Platform
Sep 07, 2021
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Like everyday life, using an online banking method comes with its challenges too. As a matter of fact, forgetting to dispose of your trash or running late on a date have very minor consequences. However, there are some mistakes you will make while using an online payment platform that would cost you a lot.
According to some research, more than $15 billion was stolen from consumers that use online payment platforms last year. In fact, if you make any of these mistakes while using an online payment method, you may lose all your money.
Therefore, knowing what not to do while using online payment options will help you safeguard your money.
Ignoring your Online Payment Account
Not paying attention to your online payment account for a long time could cause some challenges to your savings. Experts advise that users should log in to their online payment account at least 4 times weekly. That way, you can track activities on your online payment platform.
Besides, logging in often if you have cash stashed in your online payment account is very important. Some cybercriminals put a dent on your account and make purchases if you don’t check it often. Besides, make sure to contact the online payment platform as soon as you notice any unauthorized transaction. Furthermore, even if you don’t want to check your online payment account regularly, check your email.
Standard Password
A weak password is as good as no security. More so, a weak password gives scammers quick access to your online payment wallet. Besides, top on payment platforms like Paypound ensure that all their users provide a very strong password before their registration can be completed.
Furthermore, scammers no longer have to rack their brains to get your password. These days, they use robots to crack a weak password. Therefore, a weak password puts all your sensitive data at risk. From several studies, it appears that a lot of people use one single password for various platforms. In other words, as soon as your password is cracked on one platform, the person's password can be accessed on another.
To keep scammers on their toes, use uppercase, low case, symbols, and numbers combined as your password.
Careless with Phones
Some online payment users are often careless with their mobile devices. No doubt, mobile devices can mistakenly fall off the bag. However, some online payment users are outrightly careless. Don't forget, your mobile phone is like a working bank. You can receive and transfer money via your mobile device.
Also, one way online payment users are careless with their mobile devices is the way they log in to insecure websites. In fact, users download online mobile banking apps without checking if the site is secure or not. The safest place to download apps is via iTunes or Google Play Store. Also, you can visit the online banking website to download their mobile app.
Using Public Wi-Fi
To securely make your banking transaction via an online payment platform, don't use public Wi-Fi. Public Wi-Fi is very insecure and unsafe to use for online payments.
Experts have advised the user to always log out of public Wi-Fi whenever they want to make transactions online. Switch to your cellular network. Furthermore, scammers or cybercriminals also use free Wi-Fi.
Shunning Security Features
Top online payment methods provide numerous security features to guard your monies. For instance, some online payment methods request that users activate a fingerprint security system. But a lot of users opt-out and prefer inserting their password. The fingerprint feature provides additional security to your account.
Not just that, top online payment methods also ask users to provide security questions and answers that you would provide in case you try accessing the platform with a different device. Unfortunately, a lot of users shun these security measures.
Wrapping Up
If you can avoid these five mistakes, then your online payment account will be safe. Also, ensure that your mobile device is protected with a good antivirus. With that, cybercriminals can’t access your account too. Finally, incorporate all the additional payment options that your payment platform provides. It will guarantee extra security.