Black Friday is a busy period where brands across the world offer crazy discounts to entice customers even as the holiday season kicks in.
It is a widespread practice that leverages technology, especially with the emergence of online shopping through mobile phones and other communication gadgets.
Today, you can easily access your banking account, check balance, transfer funds, pay bills, deposit checks, using Mobile Service Providers.
According to Anna Collard, SVP Content Strategy and Evangelist at KnowBe4 Africa, “Contactless payments have soared in popularity, transforming the way we pay for goods and services. With the tap of a card or a smartphone, consumers can complete transactions quickly and effortlessly,” says Collard.
Depending on what you are shopping for, Black Friday can be the best time to do your shopping, especially if you understand the game well.
However, with the rise in e-commerce, fraud-related cases are also on an upward trajectory.
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Notably, most businesses today are using cashless methods of payment which would in one way or another inconvenience the parties involved.
How secure your Black Friday payments
It is essential to stay alert and take measures to safeguard your personal information.
Losing your phone or having someone get hold of your passcode is another major worry. In these situations, unauthorized can access your device to make contactless payments.
While smartphones and smartwatches are widely associated with contactless payments, tap-and-go technology is also available for traditional bank cards. However, using bank cards for tap-and-pay transactions poses its own set of risks.
When you are shopping at speed to catch the best Black November deals, you are distracted, which means it is easy for you not to see a skimming device and just tap your card.
What you can
Set a strong and unique passcode for your phone. Passcodes should not be easily visible.
Keep your mobile payment app IDs safe. Use two-factor authentication and never give anyone your ID password or verification codes.
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Enable biometric authentication: To add an extra layer of protection to your smartphone, use technologies like facial recognition or fingerprint scanning. Only you can unlock it this way.
Keep your devices nearby: Always keep your phone or smartwatch with you and avoid leaving them unattended. When lending them to others, use caution.
Regularly check transactions: Maintain vigilance by reviewing your bank statements on a frequent basis. Notify your bank if you spot any unusual transactions.
Keep your card safe: Always keep your bank card in a safe place, such as a wallet or a cardholder. Avoid disclosing your PIN to anyone.
It is also important to make sure that your purchases are well articulated.
Also, confirm that as you visit the stalls offering enticing discounts, you are well versed with the type of items they sell and their legitimacy.
“Tap-and-go payments are incredibly convenient, but it is important for consumers to understand the potential risks involved,” Collard concludes.
“By understanding the security measures in place, being cautious with personal information, and following practical tips for protection, you can safely enjoy the ease of contactless payments during Black Friday shopping without worrying about falling victim to fraud.”
