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Tips and Tricks
Digital payment is a mode of payment made using digital mediums. The payer and the payee both use electronic devices to make the transaction.
Digital payment is a mode of payment made using digital mediums. The payer and the payee both use electronic devices to make the transaction. However, without taking the necessary safety measures, digital payments are compromised and complications arise. This mode of payment is easy, time-saving and there is no chance of mistake in the calculation of cash. Therefore, it's important to understand the fundamentals of keeping the payments secure.
Payment modes like mobile wallets and mobile banking are run via the use of apps on mobile devices. Without a screen-lock mechanism be it a password, pin, or pattern lock anybody can access your phone and access the apps easily and certainly access whatever personal and financial information you have. So, the lock protects this information from misuse.
An operating system that has not been updated is vulnerable to hackers and viruses. Therefore, installing an automatic update for the entire operating system prevents one from forgetting to download any important safeguards that would put one’s online payment security at risk.
Most digital payment modes send an alert via SMS letting their clients know that they have made a transaction. The alert SMS helps in keeping track of the activity in their accounts. They show the amount of money withdrawn or paid or even the balance in their accounts. Moreover, you are immediately alerted if any suspicious activity is happening in your account.
This safety measure requires you to input an e-password that expires after use. The password is entered after your initial personal password and is usually provided by the e-wallet provider. As a result, this factor reduces the risk of illegal activity.
Data encryption helps to make sure that private financial information remains private. The encryption technology minimizes the chance of hackers cracking the password and have access to sensitive information. As a result, it provides protection for clients throughout the transaction period.
In conclusion, many organizations have adopted digital payments. Workpay provides an accurate, convenient, and secure way of paying employee’s salary advances, petty cash, and salaries through all banks in Kenya and mobile wallets. In addition, Workpay Payouts module has safety measures such as encrypted APIs (Application Programming Interface) which are key when sending payment instructions to a customer.
Want to learn more about how you can make easy, convenient, and secure payments to your employees? Visit Workpay
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