The security of electronic payments plays an important role today, since the number of hacker attacks and cases of theft of digital currency is increasing every day, despite the attempts of representatives of the banking sector to create an effective protection mechanism.
The emergence of electronic payment systems has set a precedent for the development of new ways of cyber fraud. Clients of such well-known electronic payment services as WebMoney, Qiwi and Yandex.Money are at risk, fortunately, electronic money can be tied to a mobile phone, thereby increasing the level of account security several times, protecting the electronic currency.
As already stated, security is today the cornerstone of all e-commerce-related systems. Companies are interested in the reliability of financial payments no less than their customers, therefore, additional protection systems are being created, which are designed to protect electronic wallets from unauthorized actions of the financial plan.
Previously, to confirm a financial transaction, it was enough to have an email address, but todays situation requires you to look at electronic security systems from a different angle. It is enough to link money to a mobile phone number, and many problems will cease to be relevant. Lets consider an example of a binding based on the WebMoney electronic system, which is the undisputed leader of the Russian virtual payments market:
When registering in the system, you will need to enter personal data, a valid phone number, email address, password, and confirm the registration.
After registration is complete, the system will automatically assign the user an account number (WMID), which will serve as a login to enter.
When the account is created, the user can link electronic money to a mobile phone by going to the appropriate section.
Linking a users account to a mobile phone will allow working with electronic currency with maximum protection.
The algorithm for creating additional protection is quite simple, since it is designed for people with standard capabilities. A mobile phone, in this sense, looks like the best way to confirm a financial transaction. After all, an SMS message with a verification code is much more difficult to intercept than to find out the username and password from a mailbox. How the system works:
When creating an application for payment for services or goods, withdrawal of funds or transfer of funds to another wallet, the system sends an SMS message to the phone number specified during registration. Linking electronic money to a mobile phone means protecting yourself as much as possible.
The received code is valid for only 2 minutes, therefore it is worth checking the entered payment details again and entering the required numerical value in the corresponding field.
After confirmation, the system processes the application and within 2-3 minutes, and conducts the transaction. In parallel, a receipt for the operation is sent to the mailbox.
If you look at it, it is much more difficult to steal money from a wallet that is tied to a mobile phone, since attackers, in addition to finding out the login and password from an account, need to get a phone number. Linking money to your mobile will provide decent protection for your virtual storage, since it is extremely difficult to get full access to your mobile.
But the Qiwi payment system automatically binds a new clients phone number to an electronic wallet. Each financial transaction will be carried out only after its confirmation via SMS with a verification code. There are even more sophisticated defenses available to privileged clients. However, if you link money to a mobile number, then this will be quite enough to protect your e-currency.