Today, internet security is THE major concern for consumers. It is almost inevitable to use online payments in our daily shopping lives, but even so, you should never compromise your safety.

In the past, any password was enough to protect your online payment account. However, advances in technology have brought it’s positives and it’s negatives. One drawback is an increase in cybercrime and illegal data scraping.

Our friends at Pinpoint Payments (Payment Processing for merchants) have issued a quick guide to keeping your account secure, most of which translates to any payment platform.

Here are some essentials to ensure a secure your online Payment account.

a) Set a strong password

We all try to set up a password we can easily remember, and the bots will accept. Choosing the easier route of using your username or email as the password can prove risky. You should create a passcode that integrates uppercase, lowercase, special characters, and numbers. It is advisable to use a password that is at least ten characters long.

You can devise creative ways to come up with strong passwords which you can easily remember. For example, if you chose to use your username or email as the password, you can replace letters with numbers- e.g., z for '26'.

You should also avoid the use of similar passwords for different websites because it puts your Pinpoint Payment account at risk if any of your platforms are hacked.

It is recommendable that you change your password every three months to erase any traces of attempted hacking.

b) Report any dubious activities instantly

Always pay attention to notifications you receive from Pinpoint to halt any suspect activities. The emails or phone notifications alarm you when someone has logged in to your account through a different device, or there are attempts to transfer funds. You should avoid sharing of your account information with any third party because it puts you at higher risk of losing your hard-earned cash.

Paypoint Payment has put in place fraud prevention mechanisms such as CDRN, Ethoca, and PAAY. The systems enable real-time communication between merchants and sellers to resolve disputes and cancel any unauthorized transactions. The three mechanisms also reduce the number of chargebacks to prevent adverse impact on your business profits.

c) Monitor your transactions closely

Sometimes, online fraudsters may target millions of clients and rob them a few dollars each. They, of course, are greedy and will never stop … and over time, the amount will escalate and most certainly they will drain your accounts fully.

You should note your account balance and report any suspicious deductions from your Pinpoint Payment account. The so-called negligible reduction in account balance may be the alarm of the lurking disaster to come.

You should keep a record of all your transactions in case you have a dispute. When undertaking online transactions, some fraudsters may pose as genuine buyers or sellers with the aim of gaining access to your account.

d) Say no to public Wi-Fi

'Cheap is expensive' they say. Public hotspots have become a primary contributor to cybercrimes. The provider may genuinely want to help you surf through, but you never know the intention of other users and their level of knowledge.

Some tech gurus may target unsuspecting individuals through public Wi-Fis to steal passwords and other sensitive data.

Keeping your account safe requires collaboration between the service provider and clients. As Pinpoint Payment, our systems are designed to seal any loopholes and identify any anomalies immediately. You should help us protect you from marauding hackers.


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