There are known risks to carrying a lot of cash such as that of being robbed. There are bad elements of society that will lurk near ATM machines or banks, and follow a person who just made a withdrawal to steal their money. When your money is kept in the house, there are also thieves that may enter your home to whisk away the cash and other valuables.
Lost or stolen mobile device
When you use online payment methods like Paxum, even if your mobile device is stolen, unless you are logged into the online payment applications, your money is safe. In the event that you have lost your cell phone, you may contact your payment provider to report to prevent any fraudulent transaction from occurring. Your mobile device may also be remotely locked to prevent those thieves from trying to hack your account.
Health risk
Most people nowadays are very careful about touching things as they fear that the virus might be on surfaces and that they will be infected with the virus. There is that health risk and it can be avoided by using online payments to make a payment transaction. It is far safer to go online using a browser or a mobile payment app to avoid becoming infected.
Contactless payment terminals
There are also contactless payment terminals at a lot of retail stores and other places such as buses. When you have the right mobile payment app that has enough funds stored, you may use your mobile device to pay.
Forgery of checks
When we pay using checks, it also can present us with certain problems. If a blank check is stolen, then it is possible that the person who got it will forge your signature. It is also possible that your check will be taken and then deposited into the person’s account as they can also forge a power of attorney for them to get the bank to believe that they may deposit the check into their account.
Pay-before
Making an online payment greatly aids to boost the global economy. Faster transactions are always an advantage to both the merchant and the buyer. There are a lot of online payments that fall into the pay-before delivery category, and that is to the advantage of the merchants. For the buyers, there is the protection by the merchant or shopping site that there can be a refund of the payment in case the item is not satisfactory.
Safer way to pay
When we make an online payment, we choose the safer way to pay. Most payment providers have secure payment systems. There are cybersecurity measures that are integrated to both the payment provider’s system, the application, and your mobile device. We all want to keep our money as safe as possible. Money has changed in form through the years. There are no longer heavy metal coins like those from centuries ago. Now, we have digital money that can be used to make a payment transaction using a secure payment system.