The recent ban of the old high denomination notes of Rs. 500 and Rs. 1,000 has let most citizens move to digital wallets to avoid the cash crush and run a cash-free life with ease. This has led to a massive growth rate of the e-wallet business.
To use e-wallets including Paytm, Freecharge, MobiKwik and other such apps requires debit card details, CCV, contact number and more for an easy transaction. However, have we even wondered how safe it is to provide our confidential details to these e-wallet apps?
Well, it should be noted that most e-wallet or banking apps keep the user's information confidential and are high encrypted.
However, what if the digital wallet that you are using is attacked by hackers? Here's to your rescue are a few ways all e-wallet users should consider to save themselves from falling prey to hackers.
Never Use e-wallet Apps on Public Wi-Fi
Well, be it e-wallets or anything else, using public Wi-Fi is always a risky deal for any device, as these open Wi-Fi's are often unencrypted, making is easy for the malicious hackers to attack you easily.
Big No to Third Party Keyboards
Third-party keyboards are useful for a lot of purposes, however can prove to be risk too. Using them regularly can let your data be prone to hackers as these keyboards might at times store your personal details, which might be later available to other users.
Avoid Using Jailbroken Phones or Apps From Unknown Sources
Using jailbroken iPhones or rooted Android smartphones to perform transactions via these mobile wallets can often prove to be risky.
This is because root or jailbreak a smartphone often disable certain built-in security layer which in turn can make your details prone to hackers, making it easy for them to steal your financial data.
Use App Lockers Apps
There are several app locker applications available for both iOS and Android user in the Play Store and App Store. Using them to set a lock code or passcode to secure e-wallet apps is a good idea.
We often tend to save our details to avoid entering the same in the next transaction. Having such an app on your smartphone will secure your financial data from people handling your mobile.
Link Your e-wallet Account to E-mail
While signing up with an e-wallet, giving your mobile number or email id is a good option as in a case of any hack or malicious activities being performed on your account, the app will automatically notify your with an email, for you to take necessary steps.