In today’s digital and tech-savvy culture, one of the main perks that customers can enjoy is the ability to manage their finances and make purchases online. Online shopping has taken over the high street in recent years; more customers than ever before are taking advantage of the convenience and great deals that often come when shopping on the web.
But, like almost every good thing, online shopping does have some downfalls. One of the main ones is that each time you provide a retailer with your financial information you are putting your money and personal data at risk. The more informed and cautious you are as an online shopper, the lower your risk will be. Here are some top tips to help you keep your financial and personal information secure when you shop online.
Tip #1. Use Secure Payment Systems
Today, most good e-commerce stores will allow customers to pay via a third-party payment system, for example PayPal. Using PayPal to make your payments online provides a much safer and low-risk experience. This is because you will not need to enter any of your credit card or banking details at the checkout; once you have logged into your PayPal account or similar, your information is securely stored. Click here for more information about the best secure payment service to choose.
Tip #2. Use Strong Passwords
Simple passwords might be easier for you to remember, but it’s important to bear in mind that this also makes them less difficult for hackers and cybercriminals to guess. For example, if you use your child’s name, pet’s name, or similar for your password, all it may take is a quick look on your social media profiles for somebody to take a guess at what it is. Always choose strong passwords that include both upper- and lower-case letters, numbers, and symbols. You should aim to change your passwords regularly and avoid using the same ones for each shopping account. You may want to consider using a password manager tool; this will generate strong passwords for you and store them securely for your use only.
Tip #3. Use Up-To-Date Antivirus Software
Failing to use an up-to-date antivirus software package and firewall on your computer, laptop or other device when shopping online could lead to serious problems. To avoid your data being compromised, it’s advised that you invest in a reputable antivirus software program and ensure that it is updated regularly. If possible, switch on regular updates to provide you with extra peace of mind. Before you shop, access your banking, or enter your financial details online, you should always ensure that your firewall is switched on. In addition, scan your device on a regular basis to check for any suspicious activity.
Tip #4. Be Vigilant
Today, one of the most common methods used by cybercriminals to get their victims to hand over sensitive information is known as social engineering. Using social engineering techniques, hackers can easily lead you to believe that the message you have received is trustworthy, leading to you being conned into giving away important information that they can use to steal your money, identity, or worse. If you receive any e-mails which appear to be from your financial institution, it’s a good idea to get in touch with them before clicking on any links to double check that they are genuine. Remember that your bank should never ask you to provide them with account details or passwords online. When you call, always use the number on the back of your bank card, rather than any numbers in the email.
Tip #5. Turn Off Password Storing
If anybody else has access to your computer, then it’s a wise idea to deactivate password storing on your browser. After you have accessed your banking or shopping accounts, you should always log out completely and then close your browser, so that the information is no longer available. If you do allow your computer to store your passwords for any of your shopping or banking accounts, it’s advisable to create a separate account for any additional users and password-protect your own user account so that the information will be more difficult for others to access.
Tip #6. Add Extra Security Layers
As banks and retailers take further steps to better protect their customers’ financial information, you may find that many of your favorite shops offer two-step verification. In fact, many banks are now aiming to tighten security and avoid data breaches by making two-step verification compulsory for all customers when they log in. Whenever possible, you should set up two-step verification for your accounts; in many cases, you will have a login code texted to your smartphone, which not only makes the process far more secure, it can also be handy for notifying you of any attempted unauthorized logins on your accounts.
Tip #7. Check Website Security
When you are shopping online, it’s always good to stick to the brands that you know and trust. Online shoppers tend to go back to the e-commerce stores that they have visited in the past since they know what to expect and are confident in the site’s security. However, each time you enter your payment details online, you should always double check the page’s security – this can be done by simply looking at the address in the browser bar. All online transactions should take place on a website with an address that begins with ‘https://’. The presence of the ‘s’ signifies that the site is secure; if there is no ‘s’, approach with caution.
Tip #8. Turn Off One-Click Payments
Some big retailers such as Amazon allow convenient ‘One-click’ payments to make the process of buying online easier for customers. However, although this is a handy option, the problem is that if your device or account finds its way into the wrong hands, you are at higher risk of having your money stolen or being used to purchase goods for somebody else. It may take longer, but it’s much safer to ensure that your password is required for every purchase you make.