How is security achieved in payment systems?

2016-06-12 00:00:00:

A simple, clear and elaborated to the smallest detail intuitive interface, multifunctionality, ease of making money transfers - this is what the developers of electronic payment services have paid and are paying attention to today. In the conditions of fierce competition in this specific niche of financial mutual settlements, every little thing has a certain meaning. Comparing the scale of such online services at the beginning of their development and now, we can say with confidence that at first the issue of ensuring security in payment systems was simply not as urgent as it is today.  

Improving the security of payment systems

The rapid development of virtual payment resources, their success and popularity conquered even skeptics and ardent opponents of the innovation. It is no secret that with the increase in the volume of cash flows, the number of fraudsters trying to take possession of other peoples money increases. The methods of appropriation are becoming more sophisticated.

The ever-increasing number of cybercrime, reaching critical levels, stimulates developers of web-based money transfer services to seek new and improve the current methods of ensuring security in payment systems. The safety of customers savings is the main task of the Internet business, which is very popular these days. 

Resource owners need to remember: if a person is able to create a complex Internet system, then there are those who are able to hack it. Therefore, you need to stay ahead of the fraudsters, to be one step ahead. The use of special technical algorithms can guarantee the security of payment services. Many services are shutting down due to weak security measures. Indeed, for users operating large amounts in electronic currency, the main point is the safety of their own savings.

Trustworthy resources

The security of virtual settlement services and their popularity are at the same level. This is not surprising, because any client of such a resource thinks first of all about the safety of their savings.

The online payment system "WebMoney" is recognized by millions of users. Even the fact of complete identification of the client, which is necessary for the full use of the resources capabilities, did not prevent us from gaining a leading position. Based on the results of many years of using WebMoney, we can say with confidence that ensuring security in the payment system is a priority for the resource developers.  

At least, it is not known about the facts of leakage of confidential information, from which at least one client would have suffered (materially or morally). Virtual wallets are under reliable protection, which is ensured by the use of special software systems, modern Internet technologies.

Yes, "WebMoney" is criticized for the too complicated procedure for authorizing clients through checks and additional identifications. But the used SMS confirmations minimize the possibility of hacker attacks, thereby increasing the security of the resource. Agree, the number of users is only growing, nobody is afraid of this approach to wallet protection.

In this regard, Yandex.Money is a payment system that does not impose any special requirements on users, with fewer levels of protection compared to WebMoney. For example, SMS confirmation is not used when registering, conducting transactions. Yandex.Money applies the existing methods of ensuring the security of payment systems selectively. Of course, the refusal of additional means of protection, the simplification of the settlement procedure can lead to irreversible consequences - hacking of virtual wallets, loss of funds. Account security should be our top priority, so striving to reduce additional user activity should be justified.  

Yandex.Money clients can only hope that the fraudsters will simply not be interested in the Internet system, in which the money turnover is not too high. This resource is not used by businessmen for commercial purposes, it is used by ordinary people with a low level of income.

Internet fraud is rampant

Phishing is a daunting problem. Undoubtedly, ensuring security in payment systems is the task of service owners. But no amount of protection will help if the user himself contributes to fraudsters, forgetting about vigilance. It should be remembered: you cannot transfer data about a virtual wallet, provide your login / password, payment details, any other confidential information to unauthorized persons. Fraudsters, having received such data, will easily empty the electronic wallet. Be carefull!  

Recommendations to help ensure the security of payment systems

The main task of the owner of a virtual wallet is to use a unique password. When coming up with a password, you do not need to use the date of birth, first name, last name, or use a combination that is used on other resources. It is more difficult to determine a password consisting of a combination of numbers and letters of different case. Keep your username / password in an inaccessible place, or better remember it. Do not transfer information to third parties under any circumstances!

Users need to pay attention to other well-known methods of ensuring security in payment systems: 

• When connecting to a payment service, you do not need to use places with general access (coverage area) to the Internet. 
• You should avoid clicking on questionable links, which are likely to be spam. By going to such a page, you can be in the hands of scammers. 
• Using a virtual wallet, you need to monitor the authenticity of the site on which it is registered. Clone sites can use user-entered information for criminal purposes.   
• Timely update of anti-virus systems databases.

Having made a choice in favor of a reliable payment system, adhering to the recommendations for self-protection of confidential data, you can protect yourself, and your virtual savings will never become an easy prey for fraudsters.