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What Tech Keeps Online Transactions Safe?

Millions of people around the world spend money online. Whether it be purchasing goods and services or placing a bet on an upcoming football match, money is exchanged online every second of the day across the globe. With the various threats, we now face online, from hackers and viruses, what tech keeps online transactions safe?

In terms of gambling online safely, the first thing you must do when entering a gambling website is to look for the small padlock symbol in the website address bar. This is located to the left of the website address and is known as an SSL protocol. This helps to encrypt the information that is passed through the website, such as credit card and personal details.

For example, when creating a new account on a gambling website, you will be asked to provide your name and address plus, in some countries, you will need to add identification to prove your age. This personal information is of great use to cybercriminals and therefore it is vital the website is secure and cannot be hacked. The SSL protocol works to ensure your details are never stolen or used by third parties.

When it comes to making payments using credit or debit cards, the SSL protocol works in much the same way. It keeps the card details you enter into the website safe, so only the website you are using has access to the information for the purposes of the transaction and nothing else.

Due to the importance of keeping financial information safe when making online transactions, the Payments Card Industry Data Security Standards has been created. However, this is not a piece of technology and simply a set of guidelines that websites accepting payments should follow.

As more people are now making online transactions, whether it be for gambling or to purchase a product, many companies have developed alternative ways to make payments. PayPal is a great example and the technology used by this company means you can relax when making transactions online. PayPal uses 24/7 data encryption and anti-fraud technology and in doing so, the credit card number and the amount of money involved in the transaction are kept safe. A secure payment gateway is used to authenticate the transaction and this prevents fraud.

We have seen the introduction of several leading eWallets, including Skrill and Neteller. These operate in a similar way to PayPal, meaning you never have to add your card details to be a website where you are making the transaction. You can simply log in to your PayPal, Skrill, or Neteller account and the transaction takes place using the encrypted details you have stored in that account. This saves you from having to continually enter your card details each time you want to make a transaction online.

Moving into 2020 and beyond, we are sure to see a rise in the number of people using cryptocurrency. This online technology means you can make transactions using what is essentially a virtual currency and remain anonymous at all times. Therefore, there is nothing in the way of financial or personal details to be stolen.

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