Home » Alerts » Techniques for Safe Cashless Transactions

Carrying money in the wallet has become outdated these days and people are going for the cashless transactions for shopping, online banking, paying bills, and booking tickets, etc. However, this method of payment may have brought some break to the long queues seen in the front ATMs and banks located in a market place. But, an online transaction has opened up new opportunities for hackers. The question that comes to mind is why hackers have opportunities?

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What are the possible threats of online, cashless transactions?

  • Hackers will develop and release bogus online payment applications in the Google Play store that can steal your secret and banking information like net banking login ID and credit/debit card numbers, passwords, etc.
  • Bogus websites will be developed. These will look same like your shopping or banking websites where any data you provide, will reach the hacker.
  • You may get emails with links that claim to offer discounts if you buy goods from particular websites. These emails could be forged and may redirect you to malicious or fraudulent websites.
  • You may also receive WhatsAppor SMSs messages suggesting you download mobile apps for online transactions. These could also be infected.
  • Free, safe Wi-Fi networks may be designed by attackers to trick innocent users.

Techniques for SafeCashless Transactions

  1. Download bank payment applications only from official platforms such as Apple Store and Google Play.
  2. Before you select any application for downloading, verify the developer. The ‘Top Developer’ symbol in Google Play is basically a good sign that the app is secure. Also, go for the user reviews.
  3. More essentially, read the permissions that an application asks for. If you think, it is looking for more than what is needed, and then better avoids installing it.
  4. Do not visit a shopping website or online banking by clicking a link received in an email or text message.
  5. Select established and well-known websites to make your payments.
  6. Make sure there is two-factor verification for your debit/card or net banking transactions. This means whenever you do a transaction, you will be asked to verify yourself two times. For example, while paying through net banking, you will enter you login ID and password and also a One-time password (alphanumeric code sent to your mobile number that you have registered) before you make the final payment. So, even if a hacker manages to steal your net banking information, they won’t be capable of going through with a bogus payment.
  7. Always go for a strong password for login accounts on net banking or online payment applications. Make sure your password is at least 8 characters long, having uppercase and lowercase letters, symbols, and numbers. E.g., ‘Weird15is@King’
  8. Avoid doing cashless transactions from public devices such as those in the cyber cafes.
  9. Do not use free, unsafe Wi-Fi networks for doing online payments. Doing so may let a hacker steal your details.
  10. Download multilayered antivirus software with the below features:
  • Blocking emails that contain malicious links or attachments.
  • Blocking websites that are fraudulent, infected or fake.
  • A safe browser for secure banking and shopping transactions.
  • Security software is vital not just for your PC but also on your phone. Make sure you have the antivirus software having above features installed on your mobile phone. There is hundreds of Antivirus present in the market these days. But, the Norton Antivirus is one of the best antiviruses among others. You can simply install the antivirus and avail the best security for your devices. If you need any assistance of Antivirus, then simply call the Norton Antivirus Tech Support.
  1. Install a mobile safety application that:
  • Blocks bogus or infected apps from getting installed on your mobile.
  • Blocks access to bogus or infected websites.
  • Allows you lock your applications with a password to avoid any misuse.
  • Does not redirect the user to a fake and malicious website, which can steal the information of the user.