Whether you’re shopping online or depositing a check with your phone, financial transactions are something many people now consistently do over the internet. But there are some safety concerns that come with that convenience. Here are a few tips for ensuring your financial transactions are as secure as possible.

  1. Defend Your Devices

By far the best way to keep yourself safe from the threat of information theft is to put up safety barriers before anything happens. Whether you’re doing transactions on your phone or your laptop, there are safeguards you can put into place that will go a long way towards keeping you safer. Firewalls, antivirus software, and antispyware software are all things people who own macOS or Windows laptops know they should have, but many neglect to install them or keep them updated.

Make it a priority for you to get those things in place and ensure that you’re getting the updates as soon as they’re released. Updates are important for safety because the software designers are releasing them as solutions to problems that were discovered since the last update. For mobile transactions, ensure that you have mobile authentication enabled for any apps you’re using. This will ensure that your identity is being confirmed and that you’ll be notified of any unauthorized transactions. 

  1. Strong Passwords

You might feel overwhelmed by the sheer number of passwords you’re required to make these days. Every transaction requires an account to be made, and then it’s up to you to remember your account info if you want to access it again. That’s why it can be tempting to reuse passwords or use easy-to-remember words or phrases. But these simple passwords just won’t keep your accounts safe.

If you have difficulty remembering passwords, they can be stored in a safe password manager for easy access later on. Writing your information down somewhere or saving it on your phone or in a message are all approaches that might seem secure, but could easily result in security breaches in situations. An Open Source Password Manager, which allows for transparency and independent security audits, can be a more secure option for storing your credentials. In addition, if you’re notified that an account has been compromised, don’t hesitate to change your login information immediately. Being proactive is a big part of maintaining your security with online transactions. 

  1. Look Before You Leap

When online shopping, it’s easy to find yourself performing a transaction on a website that seems slightly unsafe. Before entering your payment information or even making an account, look around for signs of security that will ensure your information is safe. For instance, the “https” in a web address, with the padlock next to it, is a sign of encryption, which means your data can’t be used, even if it’s stolen.

If you’re unsure of a website’s authenticity, try googling it yourself rather than clicking through from a link. It’s usually inadvisable to click on any website links that you’ve received via email or text, especially if you’re not sure who they’re from. Keep websites you frequent, like your bank or favorite online shopping websites, bookmarked on your browser tab for easy access. This will ensure that you’re accessing the correct web address without any extra work. Taking small precautions like these will help avoid security errors that could end up costing you your privacy or financial safety.

  1. Keep It At Home

Lastly, you might feel tempted to get into a little online shopping or banking while you’re at a coffee shop or browsing a library computer. But you’re much better off waiting until you’re home, using your own machine and WiFi connection, to perform any financial transactions. The security of public networks is unreliable and you could have your information stolen. 

The convenience of being able to save your credit card information on your browser for faster checkout or being able to access your bank account with the click of a mouse makes it easy to move your entire financial life online. Use these tips to exercise proper caution and stay safe while you enjoy convenient financial transactions.

By combining Payline Data with McAfee, you can work anywhere with confidence that your transactions are safe and your and your customers’ data is secure. You’ll have the cybersecurity tools and the confidence to face and fight the ever-evolving landscape of threats.

Read more to learn about protecting you and your customers from payment fraud.

More Secure Online Financial Transactions | In Conclusion

Prioritizing security is always the responsible route. With Payline Data, all your information is tokenized and encrypted. Learn more about how we can save you money, and secure your online transactions.

Written by Guest Writer: Lindsey Patterson

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