Safest online payment
Nowadays, more and more Filipinos are making the most of online payment methods. There are many reasons for this, not the least of which is convenience. Indeed, with online payment methods, you can make purchases and pay your bills without leaving the comfort of your home.
Online payment methods are also not limited to the âbasicsâ such as shopping online and settling outstanding balances for your utilities. Depending on the platform or app, you can also use online payment methods to transfer money, invest in the stock market, and build your savings. You can even use online payment methods on this page, where you can choose a secure online casino in the Philippines. With the way things are going, it won’t be long before you can literally pay for everything online.
The only real problem with online payment methods are cybersecurity threats. With ever-improving technologies to detect and prevent threats as well as user vigilance, however, it is quite easy to stay safe. For those who are still a little worried, here is a list of some of the safest online payment methods you can try.
Third party services
Perhaps the most popular third-party payment service is PayPal, although there are also many other platforms available such as Payoneer, Skrill, PayMaya, G-Cash, Dragonpay, Alipay, Stripe and Transferwise.
They are generally safer than using your credit card directly because you only need to provide your information to one entity. This is extremely useful if you often use your credit card to shop at multiple online stores or pay different bills. By minimizing the parties that “know” your information, you also minimize the risk of being found by hackers. Plus, if something goes wrong, it’s easier to track your transactions. Payment services also offer other security features to further enhance security.
You can also use your credit card directly to shop online or make payments. Instead of logging into your third-party payment account, all you need to do is enter your card details and confirm payment. Credit cards have robust security and anti-fraud features, and there are safeguards against fraudulent transactions as well.
The key to ensuring your security when paying online with your credit card is to verify the website URL. It must start with https: and NOT http: only. There should also be a padlock icon on the address bar. For added protection, you can also use a VPN for browsing and shopping. Usually checkout or checkout pages of websites also have a verification badge. This assures customers that the website uses security features to protect sensitive information.
By using your debit card for online payments is also possible. The process is similar to paying by credit card, but note that not all websites offer this option. What’s great is that with a debit card, you can only spend the amount that’s in the account. If a hacker acquires your details, for whatever reason, there’s nothing too bad they can do if your debit card has no available balance. For this reason, it is best to have a debit card that you will use exclusively for online purchases and payments.
Digital wallets or electronic wallets are perfect for both banked and unbanked customers. After creating your account, all you have to do is top it up via online banking or partner establishments. You can then use it for online purchases and payments, as well as other functions such as transferring money to banks. This online payment method is a great way to secure your credit and/or debit card details since you will be using your e-wallet account number to pay.
just like debit cards, you can only spend the amount currently available in your e-wallet. This saves you from overspending and also protects the rest of your money that is not in your e-wallet account.
Some online merchants and utility companies allow online bank transfers as a method of payment. All you need to do is enter the correct account number on the website or banking app, along with the amount you’re going to pay, and you’re set. Most banks also have the ability to generate a QR code for a bank account. If you want to avoid getting the wrong account number, scanning a QR code is a simple and effective solution.
For added security, banking websites and apps require you to enter a 4- or 6-digit OTP or one-time password that is sent to your mobile phone. If you don’t enter the OTP (or enter the wrong one), the transaction will not go through.
There are also so-called payment gateways, which combine online and offline elements. Once you complete the transaction through a website, you will receive a reference number. You will then use this reference number at convenience stores, pawnshops or other payment partners. Again, it’s not completely online. Nevertheless, it is also quite safe as you do not link any bank account via this method.
Banks, financial companies and payment services work hard to continuously improve their security features to protect your accounts. Nevertheless, you still cannot be 100% sure on the Internet. Be very careful and install the necessary software to best secure your accounts.