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Payment Methods for Secured Online Transactions

Online payment methods have become the most convenient way to transfer money for any of our purchases. And along with the increasing rate of online money transactions, there is also a surge in the rate of transaction frauds and data insecurity. And because of the growing number of people turning up towards online mode of settlement, hackers are getting a fair chance to grab on the savings of innocent people. This money fraudulent can be done in a number of ways, that most of the common people are unaware of. Therefore, it is very necessary for people to know about the secured method of payments that can be used for online transactions.

In most cases of online shopping, using third-party payment gateways is the best option. But before making an online transaction using any third-party gateway, we must check the authenticity of that website. Using a well-recognized third-party application can prove beneficial in both ways, easy settlements as well as secured servers and networks. Also, the third-party gateways take on full risks covered on any kind of data loss from their side. Thus, it is considered to be among the best online mode of payment methods.

Now pondering upon what we should stay away from to avoid fraudulent transactions. The first and foremost thing to keep in mind is to not make any online transactions using the public Wi-Fi network. Because public Wi-Fi is targeted the most by hackers to dig- out confidential user details. Also, in the present span of online sports and games, lots of people trade money using online Casino applications and websites. It is very important for us to know the payment channel to pay and receive the currency. In such gaming and trading applications, Casinos that use M- Pesa should be preferred over every else payment method. M-Pesa is widely used in Kenya. The best part about it is that it can be used in the absence of banking networks that means you don’t need any internet to commit transactions. One should give it a try as the transaction fees is also negligible.

All the mobile payment applications designed these days have overtaken the traditional method of exchange of potential currency as cash, but it has also made it easier for hackers to get into our system and control it their way. Thus, it is very necessary for us to choose the correct gateway for our transactions. One of the most common criteria on behalf of which we can segregate out that what should be used by us is response time.

Response time is the time taken by the application to process and transfer our money. And most of the hackers make a benefit out of the greater response times which gives them an ample amount of time to do spurious tasks. Now, for the sake of a secured and smooth method of transactions, we must choose applications that have the least response time average. This will not only save our transactions from being accessed by hackers but also make quick payments, which will further result in rapid pay and receive enviroment.

Also Read: Can Online Gaming Really Augment Our Savings?

Credit cards should be preferred over any method of adding balance to wallets or while paying on payment gateways because it offers the least response time. Therefore, this was all on the very small efforts that can save us from being in big trouble online. Also, while making online payments, we should keep in mind that nothing gets out of the layers present in networks and servers. Thus, it is upon us to know the best and trust it.

Nikhil Patel

A Computer Science Engineer who writes tech-based articles out of his passion to make the latest technologies easy to understand for everyone.

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