How is security achieved in payment systems?

2017-05-02 00:00:00:

Developers of electronic payment systems (EPS) have always paid maximum attention to creating a clear interface for their services, simple authentication and a variety of money transfers. Given that the competition in the financial settlements market is very high, each of these nuances is very important in terms of attracting and retaining the target audience. An equally important detail is ensuring security in payment systems, especially at the current stage of market development. In addition to the fact that this allows you to save users funds without loss, it also helps to avoid unnecessary material costs. After all, such resources are the material guarantor of money transfers carried out with their use.

Phishing is booming

The problem of fraud has accompanied the web from the first days of its appearance. Cybercrime has taken on an especially grandiose scale in recent years, when enormous financial flows began to spin in virtual spaces, thanks to the emergence of money transfer systems and digital currency. It is not surprising that the number of people who are trying to snatch their piece from the masters table and are not averse to doing it in a criminal way is also growing in direct proportion.

One of the most dangerous threats to financial institutions and private users of electronic funds is the so-called phishing. This type of fraud involves obtaining confidential user data by sending letters. Phishers hunt for the accounts of customers of any payment service and actively use social networks. The first attacks on customer accounts took place in 2001. Much has changed since then, and fraudsters have personal data of taxpayers, know their phone numbers, e-mail. Therefore, despite the fact that the methods of ensuring security in payment systems are thought out to the smallest detail and are becoming more complicated every year, you need to be extremely vigilant.

What does a user need to know to guarantee the security of his e-wallet or PS account?

The user of any electronic service must securely store payment details and not transfer information to strangers. It is strictly forbidden to send passwords by email, SMS and other means of communication. Knowledge of the basic rules of network security, as well as timely updating of antivirus programs will minimize the risk of money theft from your wallet.

We also recommend that you pay attention to the following security methods in payment systems:

Do not follow links that are in doubt.
It is advisable to avoid entering the EPS on the territory of institutions with open access to the global network.
When using virtual accounts, it is necessary to control the authenticity of the resource, since scammers launch clone sites.
The connection must be secure. Make sure https is listed before the domain name.
Use additional protection for your funds when making transfers. For this, most services offer protection codes, one-time passwords for logging into the system and money transfers.
Avoid participating in pyramids. Do not make transfers in favor of strangers who promise doubling of funds or other types of instant income.
Of course, to ensure security in payment systems, the main work is carried out by specialized services of companies. Today, two main approaches are used to protect funds from the actions of intruders:

Complex.
Fragmentary.
All companies use an integrated approach to eliminate threats. The fragmented type of information protection includes a certain direction, for example, antiviruses.

SSL (Secure Sockets Layer)

In order to secure the connection between the processing center and the users browser, the SSL protocol is used. The reliability of data transmission is guaranteed by two components: authentication and encryption. In fact, this method of ensuring security in payment systems allows the server and the users device to "recognize" each other.

The most advanced security standards are offered by WebMoney and Yandex.Money services. The American PayPal system is not inferior to domestic brands. It should be noted that WebMoney has the most advanced e-wallet protection system today. Despite the criticism of many opponents, security in the payment system is presented at the highest level.

It should be borne in mind that compliance with the elementary rules of safe use significantly increases the degree of transaction security. A lot depends on users.