Sci-tech

How to Do Internet Payments Fast and Safe?

We make all kinds of payments over the internet: We buy stuff we need, we send money to each other, we gamble at online casinos, etc. However, by doing so, we also share our most confidential and financial information with third parties. When you enter your credit card info and hit the “pay” button, the information you provided changes a lot of “hands”. The website stores it, the payment provider stores it, even your ISP can see it if you are not using an SSL connection. As can be guessed, this type of behaviour creates a certain security risk – especially if you are sending your financial information to “shady looking” websites. And let’s face it, all of us visited those shady looking sites in the past, and we will continue doing so in the future. Don’t worry, we don’t judge. However, we cannot ignore the security risk, too. Luckily, there are some ways to make your internet payments safe. And the good news is, they will be still fast.

Let’s start with the obvious: You must use a security software before anything else. The website you are visiting may be completely secure in regards to your financial data, but your computer may not be so. Securing your payments start from your computer and reputable security software is the only way to secure your computer. Stay away from “free anti-virus” programs. And do not think that the default malware scanner of Windows is enough to protect you. This is not a time to being a cheapskate: Buy a reputable and reliable security suite. We won’t be giving out any names, but you can check out the data of third parties such as AV-TEST and AV-Comparatives to find the best ones. Buy the program and install it on your PC: This is the first step of securing your internet payments.

Use an Intermediary

Securing your computer is just the start. The “secret” of securing internet payments is finding an intermediary. Stop giving your credit card numbers or bank account info to websites, no matter how reputable they are. There is always a security risk. Instead, store this confidential info at an intermediary and use it for payments. And by the intermediary, we mean e-wallet services such as PayPal, Skrill, and Neteller.

The benefit of this method is that you will provide your confidential financial data only to the intermediary once and never use it again. Your private data will be stored on the servers of the intermediary service. These servers are located in secure facilities, and all of them are encrypted, they are as secure as your banks. When you want to make a payment, you will just enter your username and password of the e-wallet service, and the rest will happen between “machines”. Nobody will be able to store and/or see your financial data. For example, in an online casino, you can pay for online slot machines for real money with Paypal. In this example, you won’t be giving out your credit card data to the online casino itself. In fact, you won’t even give your PayPal username and password. The payment will happen over the infrastructure of PayPal, not the casino.

Nobody Will Be Able to See or Store Your Data

When you click the “deposit” button at the online casino, a separate web page will open and the PayPal site will be launched. You will enter your username and password on this page: The casino will never see or store this data. If you have enough balance on your PayPal account, the payment will complete in mere seconds – this is the most secure and fast method of internet payments. You can add any financial information to your PayPal account: Credit cards, debit cards, bank accounts… As long as it is connected to a real-world balance, it can be used within PayPal.

Of course, for this method to work, the website must provide support for PayPal. Luckily, the majority of reputable online merchants support this service. And there are always other e-wallets such as Skrill and Neteller for websites that don’t support PayPal. So, to sum it up, use e-wallet services if you are looking for a simple, secure, and fast method for internet payments.

A Much More Secure Method

If the security level of e-wallet services is not enough for you, there is a much secure alternative: Blockchains. Crypto-currencies are the most secure and reliable payment method at the moment. Yes, they are securer than any e-wallet services out there because they completely eliminate the need for “humans”. You can think of blockchains as autonomous databases: Each record is checked by millions of other computers, and nobody can change the contents of a data without affecting the whole chain. They are even securer than banks. Moreover, they have almost no fees. Making internet payments with crypto-currencies such as Bitcoin and Ether is the most secure method out there. The “secret” of blockchains is that they store data on thousands of computer at the same time and heavily encrypt it. It is not possible to decrypt this data, even intelligence agencies fail to do it. They operate outside of the banking system.

However, they are not as fast as e-wallets. Especially with popular crypto-currencies such as Bitcoin, transactions can take minutes to complete. The bigger the blockchain, the longer it takes to record the new data. In addition, they require a certain level of technical information to use. If you are a casual shopper, crypto-currencies may seem complex to you. Lastly, online merchants that support crypto-currencies are few. Their numbers increase day by day, but there is still a long way to go. 

 

 

 

 

 

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