13 Ways To Protect Your Mobile Wallet From Fraud

August 31, 2019 4:47 pm, in Blog, Leave a Comment

Transacting money through digital payments is very easy. However, according to Khatriji, doing online transactions is also not without danger. One mistake can lead to theft of money. Therefore, whenever you pay online with digital wallet, credit and debit card, keep these things in mind.

Choose the mobile payment app carefully.
Protect all passwords associated with digital wallet and mobile banking.
There are many cases of vishing calls nowadays. In such a call, a thug asks for details of your account as a bank official. Remember – no bank or mobile wallet company employee will ever ask for your password.
To transfer money to digital wallet app, login and password have to be given. After the work is done, log it out.
If the app is not fully trusted, choose the option ‘Cash on delivery’.
Additional layers of security are available in most mobile apps. These prevent your app from accessing other data on your phone.
Take benefit by visiting the company’s website related to the promotional offer that you receive via email.
Set your card spending limit. Then, it becomes very easy to spend money by linking the card with the online bank account.
Do not use public Wi-Fi to read sensitive data or sites.
Many smartphones have wireless payment facilities. These have the option of near field communication. Make payment by taking your smartphone close to the NFC machine. For safety, turn off the NFC option if not needed.
For website security, see ‘https’ on the website address of any website you have to pay. This keeps you away from fake websites and fraudsters.
The phone’s security features are designed to protect your data. Do not turn off security features on your phone.
Always keep an eye on your online statement. In case of any suspicious payment from the account, inform the bank officials immediately.