How to Secure Your Mobile Wallets for Safe Transactions and Avoid Frauds

We all are looking for cash alternatives since 500 and 1000 Rs note ban. And there are numerous options as well in which mobile wallets are the most popular. In past few days, PayTM and Oxigen kind of wallets saw a huge growth.

Though all the wallets are secure but you never know about mischiefs. It's always good to go with precautions, prevent yourself from being broken. To do this, you don't require a huge knowledge and not even time. It just requires knowledge that you can earn easily. Here are 3 tips which can help you in this regard...

Keep your wallet account secure

To use any wallet, you need an ID and pass, the login credential is your identity that allows wallet to make transactions, so never share it with anyone as well as try to keep your credential as much difficult you can.

Website frauds are common nowadays, so don't do with websites or social pages which are propagating fake offers to just steal your data. Another good idea is changing the password frequently as well choose a wallet that offers two level security for instance login credentials as well as OTP.

Be aware of email and phone frauds

Though quite common, yet very important. We have seen several incidents where a fraud mail asks for your personal data for a particular offer or information. This could be phishing or spoofing. Never reply or share any personal data including login credentials and debit or credit card data (card no CVV, etc.).

Yes, you could get a call making you a great offer and then asking for personal data. Never entertain such calls and never share any info with them. Also, sometimes caller mention that he/she calling from the wallet company’s call centre even then, don't provide any detail. And on the top of it, you must understand that these wallet firms never call you for your personal details.

What to do, when you suspect fraud?

First thing changes your password and second contact the company PayTM or Oxigen, immediately so that they can take action to protect any transaction from your account.