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    A Secure Guide To Digital Wallets

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    Avani Poddar
    Digital wallets like Paytm and MobiKwik have become popular in India, storing users' credentials and allowing mobile payments. However, as these wallets hold financial information, protecting user accounts from increasing cybercrime is important. To securely use e-wallets, users should enable strong passwords and two-step authentication, only connect to trusted networks, download apps from official stores, and install antivirus software to block malicious links and lock apps with passwords.

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    A Secure Guide To Digital Wallets

    Uploaded by

    Avani Poddar
    16 views1 page
    Digital wallets like Paytm and MobiKwik have become popular in India, storing users' credentials and allowing mobile payments. However, as these wallets hold financial information, protecting user accounts from increasing cybercrime is important. To securely use e-wallets, users should enable strong passwords and two-step authentication, only connect to trusted networks, download apps from official stores, and install antivirus software to block malicious links and lock apps with passwords.

    Original Description:

    A brief idea of ewallets

    Original Title

    Digital Wallets

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    Digital wallets like Paytm and MobiKwik have become popular in India, storing users' credentials and allowing mobile payments. However, as these wallets hold financial information, protecting user accounts from increasing cybercrime is important. To securely use e-wallets, users should enable strong passwords and two-step authentication, only connect to trusted networks, download apps from official stores, and install antivirus software to block malicious links and lock apps with passwords.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views1 page

    A Secure Guide To Digital Wallets

    Uploaded by

    Avani Poddar
    Digital wallets like Paytm and MobiKwik have become popular in India, storing users' credentials and allowing mobile payments. However, as these wallets hold financial information, protecting user accounts from increasing cybercrime is important. To securely use e-wallets, users should enable strong passwords and two-step authentication, only connect to trusted networks, download apps from official stores, and install antivirus software to block malicious links and lock apps with passwords.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    A Secure Guide to Digital Wallets

    By storing the consumer’s credentials at a single place, digital wallets or e-wallets have eliminated
    the need to carry a physical wallet. With the government focusing on cashless transactions many
    companies and banks are coming up with their e-wallets. These wallets can be used with mobile
    payment systems that allow users to pay for their purchases anytime.

    Paytm is the most widely used mobile payment wallet with over 100 million users followed by
    MobiKwik which has around 35 million customers. These Digital payment systems are now focusing
    on going offline as most of the people in India still carry out their purchases in an offline manner. All
    these companies are dealing with the user’s personal data and financial information. Therefore
    protecting user’s accounts and preserving user data becomes a foremost concern as the number of
    cyber crimes are increasing rapidly.

    Follow the below mentioned steps for safer use of e-wallets.

    #1 Use passwords on your devices- Be it a mobile, tablet or lappy you must protect them by using a
    strong password mechanism.

    #2 Use secure network connections – Avoid connecting to untrusted or public Wi-Fi networks. Wifi
    networks that are secure are marked as “WPA” or “WPA2”. Unsecure networks are identified with
    the label “WEP”.

    #3 Download Apps from Trusted Sources – Most of the apps that you install often ask for your
    information. Install apps from verified stores like “ Google Playstore” or “Apple Store” and always
    read the user’s review and ratings before downloading.

    #4 Choose a unique password for your digital wallet – Use strong and unique passwords for your
    mobile payment apps that cannot be cracked easily. Your password must be minimum 8 characters
    long and must include a number, an uppercase alphabet, a lowercase letter and special characters.
    For e.g. – “safeNET@112”

    #5 Make sure that there is a 2-step authentication for your digital transactions – Whenever you
    make any online purchases you will be ask to authenticate yourself twice. While making payments
    using net-banking or e-wallets you will be asked to enter your login details, password and an OTP.
    This OTP(one time password) ensures that the hackers cannot steal your data.

    #6 Install a Trusted Antivirus Software- A good antivirus will block any fake websites, spam mails,
    malicious links or attachments thereby allowing you to continue your purchases smoothly without
    any fears.

    #7 Install Mobile Security Apps – These security apps block access to fake websites, prevents
    infected or malicious apps from being installed on your phone. They also lock let you to lock your
    apps through a password or pattern to prevent any misuse.

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