Mobile Remittance Payment Systems: Send Money Home from Anywhere

  • Posted by Jason on January 25, 2015 in Insight Technology

So you’ve been told your phone is smart. A smart phone. Devices, such as smart phones and tablets, are so smart that they can quickly send a mobile remittance from one side of the world to another with just a few taps. But what are the risks involved? This article is here to help keep you safe from cybercriminals.

Mobile Banking

About Mobile Payment Systems – Choosing a Password

Most mobile payment solutions, like OrbitRemit, require setting up an account to make payments with.

This account is set up using an email address and is protected by a password. Passwords are like a key to your account, so you want to keep it private and difficult to guess to stop anyone else getting in. Many people use the word “password” as a password or their name/email address.

This is not a good idea because it is common and easily guessed by anyone that knows you (and often by people who don’t!).

Generally it is good to have a password with a mix of upper case and lower case letters in it, as well as numbers. Eight or more letters or numbers creates a more complicated password and is a good idea.

Pretend your name is Susan:

“susan” is a weak password. It is too easy to guess, too few characters.

“SuSan” is a better password. The random capitalisation makes it much harder for someone to guess or break using a software program. But it still has too few characters and no numbers.

“SUSan1492” is a good password. It is difficult for a person to guess, because of the uppercase and numbers, and a difficult combination for a hacker’s computer program to try.

If a smart phone or tablet offers to remember your passwords – say NO! Password protect your device also – that way if you lose it, everything is still safe.

At the same time, keep your password memorable (use your favourite number or something similar) otherwise not even you will be able to get in.

Mobile Payments Over Wireless Networks – the Risks

Most devices will connect to the Internet wirelessly, via a Wifi or mobile 3G or 4G connection. These connections can be found in many places, such as your home, through your mobile provider, and in public places (such as cafes and shops).

Your home network and mobile provider are good places to connect to the Internet to make payments or send a mobile remittance, as they are normally very secure. However, you should be cautious of networks in public places offering “free wifi”. Often these networks can be hijacked, or even created entirely by hackers who can intercept the data you send over the Internet. If you happen to input your password, or make a transaction over an unsafe network, it can be easily stolen and used to steal from you.

Only send confidential information over trusted networks.

Is My Remittance Provider As Cautious As I Am?

So, you’ve made sure to keep your account as safe as possible, but it is important to ensure that your money is being handled by someone who is as safe as you are. Check that the company you are using offers secure, encrypted transfers, like OrbitRemit does. This means the data is encoded, and therefore unreadable, if it is intercepted by a hacker. This keeps your transfer safe.

OrbitRemit offers safe and secure remittance transfers through its online website. Access it through your smart phone browser and sign up for an account today – but choose your password and network wisely!



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