{"id":7298,"date":"2018-05-30T18:47:30","date_gmt":"2018-05-30T13:17:30","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=7298"},"modified":"2023-05-18T09:19:03","modified_gmt":"2023-05-18T03:49:03","slug":"tips-for-safe-online-transactions-small-business","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/tips-for-safe-online-transactions-small-business\/","title":{"rendered":"7 Tips for safe online transactions to avoid payments fraud"},"content":{"rendered":"

Do you feel scared to share your personal banking details online? Are you not convinced of safe online transactions because of the increasing number of frauds? Online fraudsters are constantly looking for new ways to scam the public, and sometimes, even your bank may not be able to help!<\/p>\n

So we’ve compiled 7 safety measures you can take to ensure that you avoid payment data fraud. Some of these are simple steps you can take right now, while some are more advanced and would need the help of software. Let’s dive in.<\/p>\n

Should you be worried about online payment fraud?<\/strong><\/h2>\n

When making online payments on eCommerce platforms or transferring money via netbanking, should you be concerned?<\/p>\n

The Reserve Bank of India has taken many steps over the years to make online transactions safe. These include safety standards that online merchants need to meet and various security breach protocols.<\/p>\n

In addition to this, online payment enablers like Instamojo have the Payment Card Industry Data Security Standards (PCI-DSS)<\/a>, which is the highest security standard.<\/p>\n

Statistic-wise, in 2022 Indian card and internet frauds surged to $1.55 billion<\/a> in 3,596 cases, according to the Reserve Bank of India. This number was slightly less than the previous year. This means fraudsters still find ways to steal transaction data despite all the safety measures.<\/p>\n

7 Ways to ensure safe online transactions and protect your money<\/strong><\/h2>\n

If you are concerned about making payments online, here are 7 extra steps you can take to protect your money online every time you make a transaction.<\/p>\n

1. Install the latest security software<\/strong><\/h2>\n

The internet is full of malware, spam, and spyware.\u00a0 These software programs can damage your computer. It is necessary to keep your operating system up to date with the latest security software. Install these only from a trusted source.<\/p>\n

Using\u00a0ad-blocking software<\/a> and a spyware detection program\u00a0are some ways to prevent online fraud. Run virus scans regularly and keep these programs updated.<\/p>\n

2. Secure your passwords<\/strong><\/h2>\n

Use passwords that are hard to guess. Longer passwords including upper and lower case letters, numbers and, symbols are more secure. Try using different passwords for different accounts. Using the same password is risky and more prone to online data breaches.<\/p>\n

3. Use a secure WiFi connection<\/strong><\/h2>\n

Do not make a payment over public WiFi terminals. They may not be entirely secure and are more likely to have weak data protection systems.<\/p>\n

Avoid updating passwords using public internet connections. Always use a trusted WiFi connection or your own mobile data. Using original banking apps also minimizes your risk of fraud. Make sure the app you are using is the bank’s or the payment company’s official application or website.<\/p>\n

Related read:\u00a0Top eCommerce frauds and how to prevent them<\/a><\/strong><\/p><\/blockquote>\n

4. Email security<\/strong><\/h2>\n

Stay away from emails that ask for confidential information. Phishing emails are more common than you can imagine. None of the payment companies or banks asks you for your confidential payment data. Here are some pointers on how to avoid malicious mail:<\/p>\n