8 Security Tips While Using  Digital Wallets

8 Security Tips While Using Digital Wallets

By Mainak Biswas January 20, 2017 - 4,415 views

We all have a role to play in keeping our financial accounts safe. Similar to the way we protect our physical wallet today, it’s important to protect our digital wallet.

Before signing up for a digital wallet, you should look for a provider to demonstrate:

  1. A strong legacy of securely, reliably and conveniently handling sensitive financial data and providing customer support.
  2. Readily-available and clear information on how they collect, store and use your information.
  3. The ability to send alerts of possible inappropriate access and fraudulent transactions through multiple channels, including email, text messages and telephone calls.

Essentially, keep three letters in mind to “L-O-K” access to your money and keep it safe:

Lock it down Protect (physically and with passwords/passphrases) the devices you use to access your payment options: personal computers, mobile phones, tablets, etc.

Only you access sensitive information – Safeguard sensitive data, including usernames, passwords, PINs, passphrases and answers to security questions.

Know who to call – Before anything happens, know who to call if your wallet were to be compromised.

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