Digital payments are increasingly popular because of their convenience. However, besides those benefits, digital payments also have many risks that users should be aware of. This article will analyze common risks in digital payments and recommend to users how to prevent them effectively.
Potential risks in digital payments
- Leaking of personal information: Hackers can steal personal information from fake websites, fraudulent emails, or malware.
- Financial risk: Bank accounts can be hacked and funds illegally withdrawn through phishing, malware, or keylogging
- Cybersecurity risks: Online payment systems can be hacked, leading to personal or financial information leakage
- Phishing risk: Crooks can create fake websites or emails to scam users.
- Systemic risks: Transactions may fail or be delayed due to system failure.
Preventive measures
- Security of personal information:
Create strong passwords, and do not share personal information with anyone.
Use two-factor security (2FA) services to enhance account security.
- Beware of unfamiliar links and websites:
Avoid clicking on unfamiliar links in emails, texts, or on social media.
Only visit reputable websites and have an SSL certificate.
- Software update:
Update your operating system and security software regularly.
Use reputable antivirus software to protect your device from malware.
- Transactions on reputable websites/applications:
Only use payment services licensed by the State Bank.
Carefully check the website/application information before making a transaction.
- Retention of transaction information:
Save invoices and report suspected unusual transactions.
Contact your bank immediately if you find a fraudulent transaction.
Payment Solutions Company Mission:
For companies providing payment services, ensuring safety in digital transactions is a top priority. To achieve this, payment companies need to take the following measures:
- Apply advanced security technology:
Encrypt data and use SSL/TLS protocol to secure information.
PCI DSS is compliant with protecting payment card data.
Check and update the security system periodically.
- Effective risk management:
Develop a risk management process to identify, assess, and mitigate potential risks.
- Enhanced cybersecurity:
Invest in a robust cybersecurity system to combat cyberattacks.
Train employees on cybersecurity risks and information protection methods.
- Security of customer information:
Commitment not to share customer information with third parties.
Develop a transparent and understandable information security policy.
NeoX – The safe choice in the era of online payments
NeoX is committed to the highest level of security and confidentiality, meeting PCI DSS standards. We provide various flexible payment solutions such as payment gateways, household collection, Payment Link, and e-wallets, to meet all the needs of businesses.