5 Means Of Securing Online Transactions

Adeniyi SalauApril 26, 2023

0 0 3 minutes read

What Is Covered

5 Means Of Securing Online Transactions

There are many online consumers that have been told that it is not secure to enter your card online. Because of this vital information, many of us are looking for means of making online purchases without entering our card information or using our card details. In this article, I want to show you some of the means of securing online transactions. Follow me as we are going to be looking at that in this article.

Here are the alternatives…

#1 Store Value Cards

Store Value Cards are plastic cards with a monetary value encoded in the magnetic strip. They are an effective replacement for cash and can be used for lower-value retail purchases.

These cards are not associated with the name of the user, hence they do not reveal any information about the customer. Even if lost, the consumer tends to lose only the value that is still unused.

#2 Smart cards

Smart cards are the same size as credit cards. They have a microprocessor in them, which differentiates them from a credit card, which also has a magnetic strip.

The data on the magnetic stripe can be read, deleted or even changed. Also, a smart card can be used with a smart card reader attached to a personal computer to authenticate a user.

#3 Digital Cash

Digital cash is a method of purchasing cash credit in a small amount. Also, cash credit can be stored on your computer and spent when making electronic purchases on the internet. The consumer can buy the credits from a financial institution.

Digital cash is associated with a serial number that can be used for online transactions. Please note that sending the serial does not give out your personal information.

#4 E-Wallets

An E-Wallet is a software program used for online transactions. Once the software is installed, personal information can be filled out in the E-Wallet and stored safely.
When the user orders something, the order form can be automatically completed using the wallet. This help prevents the theft of personal information.
By default, electronic wallet software will always request users to enter a password before completing the form.

#5 Online Payment Services

Third-party payment services can be used to make online payments to avoid giving away credit card information to the merchant directly.

When using an online payment service, the user should transfer money to an account associated with the online payment service.

All these purchases and transactions can be carried out through this account. This way, the customer does not reveal credit card information or other personal details to the merchants.

Action Point
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I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.

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