Internet security is extremely important. Most likely, everyone who regularly surfs the Internet has made a deal at least once through the network or paid for certain services online. And in all cases when such a payer indicates data related to his bank card, he risks material losses. The total amount of funds lost by users due to fraud amounted to one billion rubles back in 2016.
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A common scheme is fake Internet resources that look like online stores, but in reality are aimed at obtaining customer card data, after which funds are withdrawn from these cards.
The security of online payments is very important for consumers, but equally for online commerce, banks and payment systems. These structures are creating ever new schemes aimed at preventing fraud through the network.
Participants in the process
Any payment involves the interaction of a number of parties, including:
- Cardholder making a purchase;
- Final recipient of funds, online store or other organization;
- The issuing bank that issued the buyer’s card;
- Acquiring bank transferring funds;
- Service providers;
- Payment system.
Sometimes the issuer and acquirer will be the same credit institution.
The buyer in the online store enters the data required for payment. Next, the payment system sends them to the acquiring bank working with this store. The acquiring bank reports your action to the issuing bank. The issuing bank checks the information (including about the funds on the card).
Further, the issuing bank agrees to the operation (or may refuse), if the result is positive, it sends the information to the payment system, and the latter to the online store.
Payment security mechanisms
The participants in the process have developed a number of schemes designed to protect users’ money.
- SSS (Secure Socket Layer) protocol. Its purpose is to guarantee the secure transmission of data from the customer to the server over HTTPS.
- PCI DSS (Payment Card Industry Data Security Standard). They serve to protect data related to bank cards. All online payment companies must comply with these standards.
- 3-D Secure technology. This technology is designed to verify the identity of the payer. When carrying out a transaction using a bank card, you must enter the code sent by the card issuing bank.
- Buyer identification in payment systems systems. Organizations such as ApplePay and PayPal perform user authentication within their system.
- Anti-fraud systems (or anti-fraud systems). These mechanisms track financial transactions and, if they believe that any of them are suspicious, they have the right to block such transactions. There are many parameters that can be suspicious, including an excessive amount, customer behavior during a payment, too many actions from the same IP address.
Internet Security – Recommendations for Internet Payers
The industry participants, as seen from the above, pay close attention to safety issues. But it makes sense for the buyer himself to follow some tips to avoid financial losses:
- It makes sense to connect SMS notifications and use the Internet bank.
- It is not worth making deals through websites that look suspicious. The address of protected sites contains https.
- Use SMS authorization (3-D Secure).
- Please note that the site contains instructions for Mastercode Securecode or Verified by Visa.
- Make online payments through a special card, do not share information about this card with anyone.
- If you do not fully trust the online store, make the transaction using PayPal or ApplePay.
- Buy only from Android gadgets with anti-virus protection installed. At the same time, Apple devices that have iOS do not require antivirus programs, they are built-in.
