7 useful tips for secure payment on the Internet
Digital trends such as online shopping and game providers, such as Steam or even digital gambling websites, are becoming increasingly relevant. In order to be able to participate in this hype, secure payment methods are required. Virtual wallets have therefore recently become very popular.
For instance, many users pay with Skrill in online casinos so they don’t have to provide their personal credit card details. Below are the seven most important tips for shopping and paying securely on the internet.
Buying on account is safe, but not always available
Buying on account is popular and considered safe. When this method is used in an online purchase, customers receive their goods, can check them out and then pay their invoice. For the merchant, however, buying on account is a risk. He can check the customer’s creditworthiness in advance, but this is not a guarantee of payment.
Once a store or service provider with purchase on account has been found, everything depends on the reliability of the customer. If the invoice is issued, it includes a payment deadline. If you don’t pay on time, you run the risk of slipping into the dunning process. If the invoice is not paid for several weeks or months, a collection agency may even be commissioned.
Tip: Always make your payments on time and transfer the money to the correct IBAN. When a payment is mistakenly transferred to the wrong account, it is sometimes impossible to reverse it.
Select reputable providers: always check service providers and stores
Security can be significantly increased by verifying the quality of the supplier. Anyone who gambles at an online casino should take a close look at licenses, legal notices and objective ratings. An online store must be verified in the same way. If the merchant only accepts prepayment as a payment method and there are already negative reviews, you have to distance yourself.
It is also important to check the return conditions. A reputable store informs in its terms and conditions about all conditions for returning goods.
What is also essential: how does the store ship the goods? If a merchant only offers uninsured shipments, be careful. Without a tracking number, there is no proof and the store can claim that the package arrived a long time ago.
Pay attention to security when transmitting data
Hackers are a major risk in online payments. Attackers attempt to spy on data and misuse it. So a reputable store or service provider relies on an encrypted website. This is easy to recognize from the browser bar. Instead of http://, you will see https://. The small s means Secure. Some browsers also simply display a padlock symbol. In this case, the data transfer is encrypted and hackers cannot access it.
Choose payment methods with confidence
The electronic wallet is becoming more and more popular. Be it PayPal, Skrill or Neteller, those who shop frequently online usually use such a service. The advantage is that the customer does not have to enter his data directly in the store. Credit card or account data is stored in the respective wallet, or alternatively, the wallet has previously been loaded with credit.
Providers such as Amazon Pay or PayPal also offer so-called buyer protection. If the transaction goes wrong, the customer gets a refund. Virtual wallet data must be well protected because if fraudsters can access it, there is danger. Unauthorized payments can be made and not noticed until a few days later on the account.
Wallets can be secured with two-way authentication. The purchase must then be confirmed by a code sent by SMS or via an application.
No data transfer by phone, email or chat
Reputable stores and service providers never ask for customer data via chat or phone. Confidential information should never be transmitted in this way. To verify your identity on a
telephone hotline, it is sufficient to indicate the last four digits of the IBAN or the last digits of the credit card number.
If a customer requests full customer data, including payment details, via email, chat or phone, the conversation should be terminated. To trigger a purchase, a reputable store is needed where the customer can verify payment again. Anyone transmitting their data can quickly find themselves in hot water.
Fraudsters only need the credit card number and a three-digit CVV number to make unauthorized payments. As soon as strange transactions occur, immediate blocking is necessary. If in doubt, it is better to block once too often than once too less.
Regularly update passwords to ensure security
Whether it’s a service, a payment provider or an online store, passwords are needed everywhere. It’s tempting and easy to use all websites with one universal password. But it’s also dangerous, if hackers crack one password, they can access all other websites. It is therefore important that sensitive data such as payment data is always particularly well encrypted.
Today, banks and credit card providers allow secure login with biometric data. A transaction must then be triggered by the fingerprint on the smartphone. Alternatively, two-way authentication is important. It can be used not only with electronic wallets, but often also with the user’s own bank.
Payment can only be made after entering the security code. In the event of numerous unsuccessful attempts, the bank or payment service provider blocks access, which can only be reactivated via the customer.
Only use prepayment in exceptional cases
Many online shops offer prepayment as a payment method. The customer transfers the payment amount and receives his order after receiving the money. This is great for reputable and well-known stores, as it is often the only payment option for people with bad credit. However, if a store only offers prepayment, be wary. There are scammers who try to scam customers in exactly this way.
In most cases, they proceed the same way. The store of a famous and well-known supplier is copied and little modified. For example, the fashion store Zalando becomes Salando. The layout is deceptively similar to the original and payment can only be made in advance. Fraudulent stores then entice customers with huge deals to persuade them to make a purchase. If payment is made in advance, no goods are shipped.
On the one hand, service providers and online stores are responsible for ensuring the security of monetary transactions. On the other hand, however, it is also the customer’s responsibility to take care of the appropriate security measures. Naivety can cost money on the internet, so it’s best to think twice.