Smartphones have been making so many aspects of life easier. We can now do so many things on the go. You can interact with people over social media and read up information on online encyclopedias. More importantly, you can even make online payments.

We’ll refer to the widespread use of these payments as mobile commerce. Mobile commerce has become absolutely huge. This is due in part to just how much you can do with it. You can order books to your flat or order pizza to your home while on the commute.

Making payments over mobile phones does come with risks. But every transaction method comes with risks. Cash, cards and phones can all easily be stolen. But mobile commerce making Internet payments even more widespread. This has increased fears of cyber attacks that could jeopardize a user’s finances or even their identity.


Image: Pixabay

Regardless of this, consumers are taking to mobile payments at an incredible pace. Buying mobile games for their device? Paying back money they owe to a friend? Whatever it is, people are making their mobiles the first port of call for payments. Service providers are always working to improve security features. You too should make sure your transactions are safe.

Mobile payment security is more important now than ever. Your payment details are now logged into your phone, which means you need to ensure safety at all times. The more financial data that’s stored on your phone, the higher the risk that you might experience identity theft if it is lost or stolen. You’ve heard of computer security threats like viruses or phishing? Well, those same things can occur on mobile. Strangers gaining access to your information is an extremely serious problem. You run the risk of others buying items with your money or even taking out fraudulent lines of credit in your name.

Let’s say you, like millions of people, have the Amazon app. Maybe you have got it set up to remember your payment details and account password. This is supposedly one of the perks of mobile commerce. And, for sure, if you don’t think about the risks then it does make things really fast and easy. But think about it: all it takes is for someone to get a hold of your mobile without you looking. As long as they can unlock your device and open the Amazon app, they could make any number of orders to anywhere in the world.


Image: Pixabay

So you may want to consider a more secure way of locking your phone. The ‘slide to unlock’ doesn’t seem to cut it anymore. You could make sure a user has to enter a code before unlocking your phone. Better yet, many mobile phones come with the ability to unlock only when your fingerprint is scanned.

Of course, a very technically-savvy thief may find ways around this. The best thing to do is to make sure you’re not saving any of your sensitive information on your phone or websites. I know it can be a pain, but make sure to type in all your details manually each time.