The internet has revolutionised the way we shop, providing numerous benefits over the conventional way of going to a store. It provides the convenience of being able to purchase 24/7 from any location. Online shopping can provide more variety and the ability to buy global brands that may not be available at your local store.
Most internet businesses accept online payments, making the experience quick, safe and hassle-free. Staying safe when making online transactions isn’t complex or hard.
As we spend more and more time online, it becomes increasingly important to understand how to protect our personal information. Personal information includes names, addresses, phone numbers and bank details.
Many online merchants ask you to provide some personal information to use their service. They may be seeking to verify your identity to process payment or for the delivery of goods. You should look for online merchants that promote their trust and safety credentials.
Unfortunately, there are online criminals seeking to scam you, conduct identity theft or commit some other fraudulent activity. By stealing your identity, a criminal may access your bank account, obtain credit cards or loans in your name, and potentially ruin your credit rating and reputation.
Julie received an email from a stranger offering her cheap tickets to an upcoming concert. The email contained details on how to purchase, and Julie clicked on the link provided. This action resulted in a new internet window opening on her computer – loading a professional-looking website where she entered her name, address and credit card information. Julie never received the tickets and was later informed by her bank that her credit card has been used to make several unauthorised overseas transactions.
Protecting Your Device
Many of us use mobile smart devices to access the internet for social media use, web surfing and online shopping. This offers great convenience, however, it can open us up to a number of risks. It is important to protect your device and the information on it.
Tim gets a message from a friend inviting him to join a new and popular online game. His friend provides a link for the download. Tim clicks on the link and realises it is a non-authorised app store. He questions his friend about this who informs him it works fine and it’s the best place to download the game without having to pay. Tim remembers attending a cyber safety presentation where he was told of the perils of downloading non-approved apps. He politely declines to join his friend’s gaming group.
Online shopping is great, but you don’t want to become complacent with security. While banks and payment technology companies devote a lot of effort to protecting consumers, it is important that you keep vigilant when shopping online.
Melissa lives in regional Australia, yet wants to buy the latest fashion accessories. She is apprehensive about online shopping, having heard how a friend got scammed. She searches the internet for what she wants to buy and finds an online store which is user-friendly, lists contact details for enquiries or returns; has an easy-to-read privacy policy; and explains the customer protections in place for online card purchases. She buys some jewellery, which arrives in the mail some days later and to her satisfaction.
Merchants are the first line of defense and can help customers have a safe and secure online experience. They play an important role by protecting their own computers; being vigilant to online scams and fraud; and by providing a safe and secure shopping experience.
Payment technology companies like Mastercard help merchants by providing them with an authenticated payment system to improve online transaction security and encourage the growth of e-commerce payments.