One Secure Method Of Online Payment: Introduction
One of the best things about technology is the convenience it offers to everyone. Paying your bills, transferring funds, and purchasing items can all be done online. Sensitive information like bank accounts and credit card information should always be protected especially when doing online transactions.
A lot of secure online payment systems are available for you to use. You can pay using your credit card, debit card, Net banking, and Digital wallet among others. Only one secure method of online payment best fits your needs. Which one would be it?
For this article, you’ll know the pros and cons of online shopping payment methods. You’ll also find out for yourself which one secure method of online payment best fits your needs. As we discuss each online payment method, you’ll understand why using SecureBox alongside each payment system is recommended.
One Secure Method Of Online Payment: The Pros And Cons
Whenever you do any kind of online transaction, which payment system do you usually use? Do you often use the card provided by your credit card company? Do you use other payment cards?
In this section, you’ll learn the pros and cons of each online payment method or system. You’ll learn one secure method of online payment at a time and the benefits of using it with SecureBox. Here’s our take on the pros and cons of online payment systems:
1. Credit and Debit cards - is this one secure method of online payment?
Pros - Credit and debit cards are still the most commonly used and preferred form of online payment up to this day. Accepting credit card payments are supported by the majority of online merchants.
Cons - Being the most commonly used payment method online also means being the favorite target of cybercriminals. Prone to threats like credit card identity theft, keylogging, and memory-scraping malware.
Recommendation: Using SecureBox will help you thwart these threats from stealing your credit and debit card details.
2. PayPal - is this one secure method of online payment?
Pros - The world’s most popular payment processor that provides international money transfer services. You can give and receive money through PayPal. You can pay for any item or service online using PayPal. You can link your bank or credit card account to your PayPal account.
Cons - The transaction fees of course. Having so many features always comes with a price.
Recommendation: Using SecureBox as an added layer of security is highly advised. PayPal may have the best protection already on their side but the endpoint security is where SecureBox shines.
3. Payment Wallet aka Digital Wallet - is this one secure method of online payment?
Pros - Using it is safer than using cash. It’s faster and more convenient to use because your bank details are only needed once during registration.
Cons - Limited compatibility with merchants or retailers. When you lose your phone or ran out of battery you can’t use it. As with other online methods of payment, this is also prone to malware attacks.
Recommendation: SecureBox is a malware detection tool that you can always depend on against viruses, trojans, rootkits, worms, ransomware, and spyware.
4. Net Banking aka Online Banking - is this one secure method of online payment?
Pros - You don’t need to be physically present at your bank to make transactions. You only need to enter your personal and other sensitive information once. Your bank provides the application for you to use.
Cons - Some online banking features aren’t available 24/7. Sometimes online payments and fund transfers are delayed. Also prone to network sniffing attacks.
Recommendation: Using SecureBox will protect your transactions from being intercepted and stolen by cybercriminals.
5. Mobile Payment - is this one secure method of online payment?
Pros - Payments can be made a lot faster, easier, and has more security options. Uses OTPs or one time passwords for added security. You can use other forms of authentication like your fingerprint.
Cons - Like a digital wallet, when you ran out of battery or if you lose your mobile device, you don’t get to transact online. Prone to zero-day attacks as would other forms of payment as well.
Recommendation: Using SecureBox prevents these kinds of attacks from happening. SecureBox makes use of containerization technology to protect apps from threats.
Now you know the pros and cons of each online payment system. You have the option to choose one secure method of online payment that suits your needs.
One Secure Method Of Online Payment: Conclusion
You were introduced to our topic “one secure method of online payment” You now know the pros and cons of each online payment system and what SecureBox has to offer for each. What are you waiting for? Sign up now for a free demo!