First Financial Security
Mobile Payments Security
Where does mobile credit card processing security come in to play? The main concern is that consumers’ information cannot be breached during any mobile transaction. Processors are concerned that processing transmissions might be targeted for intercepted, making private financial information available to thieves and hackers. Some consumer are concerned that virtual wallets might leave consumers open to fraud if their phones are lost or stolen.
For now, it’s likely that criminals are more concerned with obtaining batches of credit card numbers rather than single numbers. The technologies are moving so fast that it may be some time before hackers can quickly break into mobile card transactions. There is sure to be a long learning curve for both merchants using mobile card readers and consumers using virtual wallets when they become available worldwide.
Safety concerns go hand in hand with all technological development we see today. Recently Square released a new version of its mobile card reader that uses encryption to safeguard transactions details. The Intuit Go Payment card reader uses secure socket layer (SSL) encryption. This type of encryption is practically impenetrable, some experts say. There’s security for merchants because card information is not stored in their phones and security for consumers because they can see the swipe happen in front of them..
Virtual wallet security, processors will allow you to load credit, debit and loyalty cards onto your phone and then encrypt that information. A PIN will be required for payment, and the mobile phone will need to be held by the user and waved near a reader. This combination of encryption, a PIN number and the phone never leaving the consumer’s hands should add up to a full security system.
Now this is a subject that we take extra serious ourselves since we have been working in this business for many years. There are many sites unlike ours though that really will do you no good and just steal your information and since it is very serious personal information then you can be damaged severely. This will be easy to avoid though and there are two quick things that you will be able to do that will make sure that you know you are working with someone legitimate. One thing that you will be able to do is take the business name and check it against the Better Business Bureau. This is a great way to see that it is a legitimate company and will validate that you are working with someone that is safe. If you do not want to do that kind of research then you will also be able to just check the application to make sure that it is secured. That will be one of the best ways to make sure that you keep safe when applying for an auto loan online. Before you know it you will be able to receive a great deal and hopefully you have learned something and will be safe!
One of the best ways you can learn how to avoid car buying scams will be to go to the website of the Michigan organization H.E.A.T. (Help Eliminate Auto Thefts). They have many great tips that will provide you with ideas of how to make sure if you were to say buy a car from someone off of craigslist to make sure that the deal goes down successfully with nothing fishy going on.
Some of their tips will include:
- Meet at the S.O.S.
- Triple check the VIN
- Get Guaranteed Payment