Eight Online Transaction Security Tips for Non Technical Folks

Eight Security Tips for Safe  and Secure Online Transactions for Non Technical Folks

Online transactions and its security:

Many of us often transact online for the following purposes

•  Banking Transactions using internet banking services like balance inquiry, fund transfer, bill payments etc
•  Payment transactions such as booking flight or train tickets, shopping, paying bills, mobile recharge, DTH recharge etc

As a 21st century human, this is a proud moment for us that we go digital.When I first transacted online, I felt very proud because we can get things done in just a few clicks in a very convenient way. In fact I enjoy online transactions. Let us see the other side of the coin.

Is transacting  online safe and secure?

Yes... it is safe and secure only when you take certain measures not to reveal your confidential information to unauthorized sources while transacting online.Unfortunately, many people do not know what these measures are and still continue to transact online depending only on their fate and luck.

There are huge number of online thieves watching continuously to get your confidential information to rob you. If you are cautious by following simple tips, you can make all your online transactions safe and secure.Here I am to help you on those tips. Before I suggest those tips let me make you understand 

Internet Banking Transactions:

what defines the security of internet banking transactions?

Well, the security depends on two factors.

The security maintained by your bank : This is the first and foremost factor. It depends on how the data base of the bank which holds your confidential information and the internet banking website you use to transact are secured by the bank. Well, it is the responsibility of the bank to ensure it is secure.So, all the banks have put their own security measures to ensure this. Thus, we have no need to worry about this. All that we can do is choose bank with best security history. If the banks security is compromised,although it is very rare case, any or all of bank's customers get affected.

The security measures maintained by you : You are responsible for safe guarding your confidential information like usenames,passwords,OTP etc. Every time you make an internet banking transaction, you need to enter your confidential information the username and passwords. If you do not take certain security tips to safe guard your confidential information,you will end up giving this confidential information and consequently your hard earned money to online thieves unwittingly. Let me help you with those important tips

Tips for safe Internet Banking transactions (click the link to check out those tips)

Payment related transactions:

In payment related transactions like booking tickets,bill payments,online shopping etc,we have multiple options of payment like net banking,credit card,debit card,digital wallets etc.

Here we make the payment to merchant through an online payment gate way provided by some bank.

Tips for safe and secure online Payment related transactions

#1. Don't shop at unknown online shopping websites: There are huge number of unknown online shopping websites which display lucrative discounts for some products. Mostly, you land at their websites through social media channels like whatsapp and facebook etc, Do not proceed to complete the order seeing those huge discounts unless you verify the authenticity of the website.

#2. Use a virtual debit or credit card always for payments: Virtual card is a temporary card valid just for one transaction.It is just a virtual card not a physical card. Nowadays almost all banks provide this facility You can easily generate it through internet banking for an amount you want to make a purchase or payment.This is a very highly secure method of online payments though it takes a little effort. Suppose your account balance is in a few lakhs of rupees and you want to make a mobile recharge of Rs 100, generating a virtual card for Rs 100 is safe and secure instead of using your physical card which can keep your entire account balance at risk.Even a professional and expert hacker cannot touch a person who uses virtual card for payments.This is an ultimate solution to any kind of online payment risks.

#3. Set different passwords for different accounts: A recent study has revealed that majority of the people use common passwords for a number of transactions including sensitive transactions like net banking and credit cards for the convenience of remembering. Using the same password makes you at high risk, If hackers can somehow get access to one password, they would virtually have access to all your accounts. The best way to keep you safe in the virtual world is to use unique passwords for different transactions.

#4. Make payments at only familiar and securely encrypted web sites or stores.The website URL must start with HTTPS and there should be a green padlock symbol on the left of  HTTPS. Never enter your card details on a website which starts with HTTP.

#5.Never enter your net banking username and password on other bank's payment gateways. Keep in mind that your debit and credit card details can be entered on other bank's secure bank payment gateways for payments but not net banking details.

#6. Do not share your confidential information of cards and net banking over instant messaging apps,SMS,E-mail etc even to the person you trust.If  you do that , you unknowingly disclose your confidential details to the digital world not just to your trusted friend or family member whom you send.

#7. Avoid using public computers or internet cafes for making online payments rather use personal computer or mobile or tablet.Also avoid using unprotected public wifi on any device for financial transactions over the internet.

#8. Ignore those phishing E-mails asking for your confidential information,Nothing comes free in the world. Don't believe those prize winning E-mails and stay away from them.

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Wish you safe and secure online transactions