Why is it better to link e-wallets to a mobile phone number?

Every year the rate of introduction of innovations and high technologies into everyday life is increasing. And together, many processes are optimized in it: business meetings, purchases, signing lucrative contracts and communication - all this now happens through a click.

An electronic wallet is perhaps one of the best implementations in the financial industry, which allowed people to quickly manipulate their deposits from a distance. Besides the fact that electronic money can be linked to a mobile phone, it is less susceptible to theft by hackers. Thanks to a complex security system, their replenishment can be carried out in any convenient way: through a bank card, terminal, mobile phone and other tools.  

All the necessary monetary transactions are being transferred to the digital space, and now paying for bank bills, utilities, purchases in online stores has become even easier and more convenient - you just need to provide unhindered access to the Internet. In addition, there is no charge for the maintenance and operation of a virtual account in the e- wallet system , and it does not need to be extended, which is an inherent advantage over the same bank cards. And the security system minimizes the possibility of theft of electronic money linked to a mobile, although when this does happen, it is much easier and more realistic to recover your funds than in the case of theft of money from a card.        

Creating an e-wallet using a mobile phone

Popular developers of electronic money systems, such as WebMoney, PayPal, Yandex.Money, tried to make the process of creating a wallet as simple as possible: all that a user may need is to enter personal data for registration (such as name, date of birth, address of residence) and specifying email. Although some payment systems require the indication of passport data or insurance certificate number. The creation of a password for a personal account should be approached responsibly, because the safety of funds ultimately depends on the user. Basic rules: the password should not consist of a name or a noun, and it is also recommended not to use passwords registered in other systems, for example, from mail or an account on a social network. After creating the wallet, the service issues individual keys (which should be saved to removable media) to protect electronic money from virtual hacking, and offers to link to a mobile phone number. Experienced users are advised to use this service, as it has a number of undeniable advantages.       

Three arguments in favor of linking e-money to a mobile phone number

Why is it worth linking money to a mobile phone number? Firstly, for the convenience of restoring the right to use an electronic wallet: in case of a password loss, the entire procedure for resuming work with electronic money will go through a link to a mobile phone, and this is much faster than a virtual mail service, which may require searches personal computer with Internet access. On the security of the mail services themselves: more and more mailboxes are hacked by hackers, so its worth considering whether they need to be trusted with the safety of their money.       

Secondly, the mobility of monetary transactions: working in an electronic wallet system , the user must constantly confirm the legality of his actions. When performing any act within the electronic transfer system , a message is sent to the mobile phone number indicating the session number and a personal security code.        

Thus, a person is freed from the need to be constantly near the computer, and can perform monetary manipulations from anywhere in the world. Thirdly, full control over the transactions: since reports on all user actions within the payment system are sent to the mobile phone number , you can be sure that no transfer will go unnoticed.    

With the service of linking electronic money to a mobile phone number, the users personal capabilities expand: 

• The need to be in one place where there is access to a computer disappears.
• The speed of processing various requests increases.
• The level of security of the personal money account is maximized , control over foreign exchange transactions becomes real.  

That is why the storage and implementation of electronic money in the system linked to a mobile phone number is gaining increasing popularity among those users who care about the safety of their savings.