Digital transactions have become part of our everyday lives. The world is inching in that direction, yet doubts persist about whether it is safe to pay online? It’s never been as relevant as now to discuss that question. For starters, paying online needs a little common sense, such as never sharing passwords and using solid combinations of letters, numbers and symbols. Security begins at home, so without common sense, your online payments will never be secure. In 2020, over $630 billion was transacted online, with the figure for 2021 likely to increase considerably. Yet, users still face credible risks when paying online.
The exponential growth of online payments and digital transactions is mainly due to its unique attributes and benefits. They include ease of transactions and quick traceability, contactless payments, low costs, and speed of transfers. Technology is the primary driver, yet it is still prone to cyber-attacks and data breaches. You can further minimize the risks by using a private window for online transactions. If the website address commences with HTTPS:// it prevents cookies and other credentials from storing your info, thereby ensuring that nobody misuses your data. If you’re using a mobile app, ensure you only download official apps from the app stores, or secure website. Distance yourself from unauthorised or suspicious-looking apps, and avoid suspect websites that attempt to entice you with better deals and free offers. Finally, make sure you log out once your transaction is complete. Avoid public WiFi networks, as it could put you at risk of attack, online theft or fraudulent activities.
Which Online Payment Methods are Secure?
Fortunately, there are several safe options for transacting digitally. The most popular digital payment methods include the following.
- Credit/Debit Cards
- Wire Transfer
- Trustly Pay N Play
Let’s see how the methods compare in terms of security and benefits. eCommerce is dominated by credit and debit cards. They utilise high compliance standards, including 3D secure flows, adding a layer of protection to online payments. Both card types use one-time passwords sent via SMS or email to authenticate online purchases and deposits. Moreover, card purchases get protection with Zero Liability Protection programs Visa and Mastercard provide to users.
eWallets are ideal if you prefer not to expose your card details online and make them available to third parties. PayPal is one such option that is essentially a Stages eWallet, acting as a middleman. GooglePay and ApplePay are also viable options as they don’t share the user’s payment data like your bank account information. Neteller and Skrill are popular too, and they are widely available and accepted online.
Trustly Pay N Play
Trustly’s Pay N Play is a fantastic option that allows players to instantly get into the casino action with a quick deposit from a bank account. Pay N Play Casinos provide real-time depositing, with a 5-minute withdrawal via Trustly. Established mainly in Finland for their online casinos (nettikasino), it’s fast becoming the new standard in online gaming. By using Trustly, you can use your online BankID to give you instant access to real-time deposits and withdrawals. In addition, the system allows access worldwide without delay, so you’ll play safely without sharing passwords, account details or undergo a lengthy registration process. Pay N Play casinos also provide a varied selection of games, exceptional bonuses and fast payout times.
The security of bank wire transfers depends on the security environments employed. For example, wire transfers could be subject to fraud when the merchant’s identity isn’t verifiable. Nevertheless, it’s still popular among online casino players.
PayPal is essentially the middleman between yourself and the trader or online casino. You could connect your bank account or card to PayPal, thereby negating the need to supply passwords or other details. Instead, you can transfer money with a couple of clicks while keeping your info private.