Security of online transaction is a common problem which plagues the millennial population given the massive number of online blunders. While frauds and thefts were present even before the advent of the internet, technology simply makes the job easier for hackers. But you can take a safe step forward by banking on the tips listed out below.
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Tips For Secure Online Transaction
1. Managing The Password
This is one of the most important security measures for online transactions as passwords act just like a key to a lock carrying sensitive information. Herein lies the necessity of having a robust password in place. According to cyber experts, you can add an extra layer of safety to all online transactions by choosing a password which blends in both upper- and lower-case letters along with special characters and numbers.
Often people use their DOB or name as passwords but these codes have a high degree of predictability. You should make it a point to change your passwords on a frequent basis and assign unique passwords to different accounts. Credit card details, passwords, and similar information should never be shared with friends, family, or any tele-calling person posing as a bank and enquiring about your details.
2. Phishing Messages
We often receive emails stating that we have won a windfall lottery or that our bank account requires an update and that’s why we need to share our banking credentials. These spam messages are commonly known as phishing traps. They are sent by spammers in such a manner that it looks absolutely original and authenticated. One such security measure for online transactions is to avoid such emails in the entirety and cross-check with actual authorities in case of anomalies.
3. Transact Under Privacy Mode
Popular web browsers such as Google Chrome, Internet Explorer and Firefox offers a privacy mode setting so that users can undertake secure online transactions. You will be redirected to a separate window after turning on the privacy mode. The safety of your data remains guaranteed as long as you operate in that particular window. All the cache data gets cleared on closing the window. Although several users have voiced second thoughts on the trustworthiness of a web browser’s privacy mode, it is surely the best option while working on a public computer.
4. Two-Factor Authentication
Tech geeks usually swear by two-factor authentication as the best means of validating the security of an online transaction. Whether an account belongs to a particular user can be verified using either single or two-factor authentication. Under single-factor authentication, users need to type in the password just once. But in the case of two-factor authentication, the password can be verified either through email correspondence or One Time Password (OTP) sent to your registered mobile number. As a result, the level of risk gets substantially reduced with two-factor authentication.
5. Invest In A Robust Security Software
For undertaking secure online transactions, it is always advisable to invest in security and anti-virus software. They might initially seem pricey but are bound to pay you off in the long run by preventing compromise or loss of sensitive data which happens when trojans and malware enter into your device. You can also go with the free apps available on Android and Windows devices although the paid versions are surely the best.
6. Avoid Working On Public Computers
You should never use a public VPN, Wi-Fi networks or computers while undertaking an online transaction. These public channels are more vulnerable to hacking threats and data compromise if they fall into the wrong hands. Crucial financial data is required to be filled in while logging into your net banking account and you should avoid it at all cost while operating from a cybercafé.
7. Verify The Digital Certificates
It is imperative to verify the digital certificates of websites prior to typing in your sensitive and confidential credentials. This helps in verifying the authenticity of the website while securing your online transaction.
8. Don’t Save Your Account Passwords
Web apps and browsers keep on sending pop-up notifications of saving your log-in info and passwords. This is actually done with the intention of offering a convenient logging experience whenever your resume work with your account. While you might consider saving your passwords for social media accounts, it is an absolute no-no in the case of banking information.
9. Don’t Forget To Log Out
Develop a habit of logging out of your account once you are done with its usage. We follow this practice while on a web browser. But things take a completely different turn with phone apps which we have a habit of trusting. Most banks are offering mobile banking facilities to facilitate the entire process and we usually exit from the app without logging out.
This happens mostly in the case of smartphones or laptops whose we are the sole owner. However, these devices might also be used by friends and family which further adds to the level of data vulnerability. To keep things safe, you should always log out from your banking apps after carrying out an online transaction.
10. Undertake Online Transaction Through Just A Single Secure Mode
We are offered various payment modes before finishing an online transaction like debit card, credit card, online wallets etc. But it is always advisable to stick to a single mode of payment so that all of your sensitive data does not get exposed. You can also choose the Cash on delivery method to save all the trouble.
The size of the global online shopping market is expected to break into the 4 trillion thresholds within 2020. The number of online shoppers will most probably be 300 million within 2023 in the US alone accounting for 91% of the country’s entire population. In such a scenario, it is becoming imperative to follow the best security measures for online transactions.
Prevention is always better than cure and the above-mentioned safeguards can help you in undertaking secure online transactions. Most of us are amateur users in the field of tech but still being aware of unusual activities can help us in steering clear of all unusual online activities.
https:// refers to a secured encrypted connected where ‘s’ stands for secured using SSD. You should also check the secured padlock symbol ahead of the http:// which authenticates its safety.
– Red indicates that the certificate is invalid, out of date, or has an error.
– Yellow indicates that there exists a problem with the certification authority’s website.
– White indicates normal validation and that the communication between your website and the browser is encrypted.
– Green indicates extended validation and is the safest to proceed with.
You can make use of virtual keyboards for entering personal information at the time of undertaking transactions. They can offer you complete peace of mind regarding data security.