The advancement in mobile payment technology is driving commerce at an unprecedented rate. It is easy to anticipate the propensity for mobile payment from the fact that the market grew over $ 721.4 billion in the year 2017. This trend is making more and more marketers as well as consumers to adapt to digital payment solutions. It would not be wrong to say that that digital wallet has become a trend now. The virtual payment mode has freed people from the hassle of making payments through cash or cheque. Now without standing in a bank long queue, you can transfer money to other accounts, or receive cash transfer from any bank anywhere and at any time. But is it secure?
Here are some essential tips to enhance the security of your digital wallet:
Enable Passwords On Your Devices:
To secure your digital wallet, it is imperative that you secure the device that you are using to the wallet. Protect your phone, pc or any other devices by enabling passwords. Many devices provide additional security services to protect the phone from theft and data breach. Use it.
Use Secure Network Connections:
While using a mobile wallet, one should be wary of the potential threats lurking in the digital world. Be careful with the kind of network you are using. Only connect to those networks which are safe. One should never use a public network while transacting online. Networks labeled as “WPA or WPA2” are a relatively secure network, and they require a password to access.
Install Apps From Sources You Trust:
Apps and online push notifications work as portals for malicious virus and malware. A simple looking app could be malware in disguise that can threaten the security of your vital information. Many apps are designed to look like a typical game, but at the back-end, it might be collecting data from your phone. While downloading an app, read users review, ratings and description first. Consultants from IT VA advise their clients to avoid such installations.
Keep Your Private Stuff Private:
The best way to avoid your digital wallet from getting hacked is not to share sensitive datwa with untruth-worthy people. Scammers usually mail or text victims of a possible lottery win and try to access their bank account credentials. You might even get a phony call from a fake banking agent asking for your Debit card details or ATM PIN. Keep in mind that financial service providers never ask such information.
Create a Unique Password For Your Digital Wallet:
IT support specialists suggest to never using the same password for your mobile wallet that you use to access your email or social media sites. Though, it is convenient to have the same password for all your accounts but is highly risky at the same time. Use a password that is easy to remember but hard to guess. This simple step can ensure the security of your digital wallet.
Identify Who To Contact If There Are Issues, Before One Arises:
Always ensure what the quickest way to resolve any problem with your digital wallet is. Who to contact to if someone has conned you? It is still a good idea to ascertain all the possible scenarios and its possible solution in advance.