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Blog  /  Business  /  Mobile payment security
6 Tips to manage personal finances and save money

Mobile payment security

Time to read: 3 minute(s)

According to recent data, a fifth of U.S. residents are actively using mobile payments instead of more traditional, but gradually losing its relevance payment methods.
Other countries do not lag behind the United States in this trend. It is easy to understand the supporters of mobile payments, because not every payment method has the same convenience and flexibility.
Are mobile payments as secure as they are convenient? Let’s speak frankly, they have weak links, which are often forgotten. Moreover, the blame for the stolen funds and the decrease of the security level of mobile payments most often lies on the clients themselves, who are not sensitive enough to the security issues and some important rules.
If you want mobile payments to become not only convenient and flexible, accessible and profitable, but also secure, be sure to pay attention to the following important points, which we will tell you about right now.

Using outdated software

Every day mobile security technologies are updated and become more advanced. And how disappointing it is that users of older versions of Android and iOS will not feel it. The most modern methods of security pass by them, but it is they in the future become the target of fraudsters and hackers, who are happy to use each opportunity.
In order not to get into the risk group, use the latest software updates with enhanced functionality. Voice recognition, fingerprint and face scanner, use confirmation codes. All these latest security methods will help you make mobile payments as secure as possible.

Losing your phone is not a problem?

It used to be like this. If you lost your phone, it did not affect your financial security. However, modern smartphones are used not only for conversations. They often contain contact information, bank card data, mobile wallets which can be accessed through various applications. In no case write down important details in the notes of your phone, or even better use for additional security two-factor authentication, unlocking the phone through a retina scan and fingerprint.

Don’t use insecure browsers and outdated mobile payment applications

If you use Safari or Google Chrome browsers to make payments, you increase the chances of cheaters to steal your money. If the application, through which you make mobile payments, has not been updated for a long time, it means that all the security update will be unavailable to you. In addition, it is very bad, if you decide not to use PIN codes to unlock your phone, because this way you will simplify access to the most important information for cheaters.

Add a card to your mobile wallet properly

When you add a card to your mobile wallet, such as Apple Pay or Google Pay, you do not need to specify the card number, expiration date, VCC number and other important data, using the publicly available wi-fi. Although this makes it very easy for intruders to get hold of all the important data and learn all the details needed to complete transactions.
So how do we get rid of this risk? There is nothing easier, just add a card to the mobile application, using a personal network with additional protection in the form of a password. You get all the benefits of using mobile wallets without worrying about your own security.

Check the authenticity of the applications that you install on your smartphone.

Always pay attention to the company that has released the application for mobile payments. If you install a clone application on your smartphone, when entering your card data, they will immediately fall into the hands of criminals. That is, in fact, because of your inattention, you will give them your money. Install on your smartphone protection against malware, and your device itself will warn you that you are trying to install the application from an untested source.
To make all payments of your clients as secure as possible, trust them PayDo! All data that we receive or send is securely encrypted to the highest security standards. Payment acquiring protection is provided by anti-fraud system and 3D security confirmation. And we will also provide you with the most popular services at the most affordable rates.

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