With the growth in popularity of online shopping has come a rise in the ways you can pay for goods on the internet. While many people still prefer the more traditional route of paying directly through online banking, there are a number of advantages to using these specialist services – particularly regarding security, which has become one of the biggest challenges for internet shoppers as hackers and fraudsters seek to take advantage of a whole new market.
Whenever you enter your payment details into a site, you are potentially putting them at risk: phishing attacks (in which users are directed to a spoof website that collects their information) and malware that logs keystrokes are just a couple of the ways the bad guys could gain access to your bank account. This has necessitated the development of more secure online payment services.
An example of one of these services is Ukash. With this method, rather than entering your banking details each time you pay for something, you simply exchange a set amount of money for a 19-digit voucher code, which then acts as a virtual “wallet” that can be topped up whenever you want. The code corresponds to how much money you have: whenever you spend, you’ll receive a new code telling you how much you have left.
This means you don’t have to reveal your credit card number to a variety of different shops in order to make a payment – as long as you treat your vouchers as you would cash, your money is secure.
Tags: cash, money, Online Banking, Online Services, Payments
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7:21 am • 
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