The Most Secure Online Payment Solutions: Keeping Your Personal Details Safe

Have you ever been the victim of online identity theft? Did you experience issues such as phishing, or did malware infect your computer? You are certainly not alone, as the vast majority of consumers are under a nearly constant threat. This is also why we are understandably concerned about the security of online transactions.

Are some methods more reliable than others? What recent advancements should you appreciate? Let us examine this topic from a practical perspective so that you can make informed decisions without exposing yourself to potential risks.

E-Wallets

Electronic wallets are extremely popular methods, and they are generally secure. An additional advantage involves their flexible nature. For example, let us imagine that you wish to purchase a present for a friend who is an avid PlayStation fan. You can obtain a PSN gift card, and many services will not require your credit card details (only the e-wallet address). This can help to eliminate the chances of your information falling into the wrong hands. E-wallets such as Skrill, Neteller, and Klarna are some well-known examples.

Two-Factor Authentication

This method is sometimes known as “2FA”. The main intention is to provide an additional layer of security when performing certain activities online. Electronic payments, logging in to specific websites, or registering for an account at a virtual casino may all require 2FA authentication. An example will help to clarify this strategy.

Assume that you wish to transfer money from an e-wallet into your bank account. After entering the appropriate details within an online portal, you will be sent a confirmation code to your smartphone. This code must be entered for the transaction to be completed. 2FA is becoming commonplace, and it is always a useful tool to employ.

Cryptocurrencies

Cryptocurrency transfers have also begun to take centre stage. The decentralised design of the blockchain eliminates that chances that your details will be leaked to third parties. Furthermore, the level of encryption employed by crypto wallets is extremely robust. When we then remember that cryptocurrencies such as Bitcoin and Ethereum are not subject to fiat-related issues (including inflation or interest rate rises), their appeal becomes quite clear.

While all of these methods will help to mitigate the threat of identity theft, they matter little if you are careless with your personal details. Always create secure passwords, and never interact with any websites that appear suspicious. When in doubt, it pays to err on the side of caution.

Author Profile

Adam Regan

Deputy Editor

Features and account management. 3 years media experience. Previously covered features for online and print editions.

Email Adam@MarkMeets.com