How Websites Protect Your Payment Information

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Password manager illustration with a lady using her laptop

Making a payment online is easier than it has ever been. Users can literally pay for a product in seconds, and it is just as secure as if you had paid for something with cash in a physical shop. While it might seem a simple procedure, there are several complex security measures that are carried out behind the scenes whenever you make an online payment. We have taken a look at some of the different methods that websites employ to keep you safe when you use their services.

Two-factor authentication

This is one of the most common payment protection methods now in use. Essentially, it means that whenever a user makes a payment, they will have to confirm – from a different device or account to the one that was making the payment ­– that it’s them making the payment. So, for example, if a player at a sportsbook wanted to make a deposit to their account, they would need to action it with the site and then confirm their identity by responding to a text message on their mobile phone. According to Tanvi, author at Superlenny.com, this is a method that most of the best online sportsbooks employ in order to keep player payments secure.

There are also two-factor authentication apps available. These will use your biometric information, such as a fingerprint, whenever you want to make a payment. This takes things to the next level, as unless your fingerprint matches perfectly, it means the payment will be unable to clear. This makes it almost impossible for hackers to be able to get access to your accounts and make any payments.

Encryption

There is a number of different ways in which encryption is applied when online. The first way, and one that you may be aware of even if you’re not totally sure what it means, is SSL certification. This is the little padlock that appears next to website addresses when you visit them. This certification means that all information that enters and leaves the website is encrypted. This includes such things as your login information and personal details. It’s one of the most important aspects of site security and is often paired with AI to ensure that user details are kept secure.

What makes encryption so important is that even if a hacker does manage to get hold of the information from the site, it will be completely encrypted and therefore useless to them. This does two things. Firstly, it makes the site less likely to be attacked, as hackers know that any information accessed will be useless to them. Secondly, it means that even if the hacker is successful, you will be protected as your information can’t be read.

The other levels of encryption that are applied are mainly associated with the storage of data. So, the site will never actually hold your payment information when you make a payment. The data will be encrypted and only the payment provider will have the key needed to decipher that information. It means the site will never have access to your information, as it doesn’t have the key. It also means that the payment provider can only access your data through the site when you try to make a payment.

Password protection

One of the most important ways in which sites keep your payment information protected is through the use of passwords. This is a process that has been part of security long before the internet was widespread – in fact, it was even used before computers became widespread. By setting up a password that only you know, you’ll be able to make sure that access to your account is much more difficult. Of course, there are also extras that some sites will insist on when it comes to creating a password. The main thing that a site will do is to ensure that the password is sufficiently strong. The way in which this is done is relatively simple but extremely effective. The first thing is that it won’t allow passwords that are similar to the sign-up information. So, using a variation of your name, email address or user name as part of the password won’t be allowed. The second thing that is used is to make sure that the password contains a range of different characters. This means a mix of upper- and lower-case letters, symbols and numbers. By using these, the password becomes much harder to crack and protects your account much more effectively. Since you are forced to comply with the requirements, it’s a simple measure that helps to keep your payment details secure.