The idea of a mobile phone being our shopping assistant, which helps us choose the desired product, suitable shade, model, check its reviews and then pay, is becoming more and more appealing. It is estimated that $6.5 billion will be spent on e-commerce by 623, and 64% of business will be using mobile devices. [1]
Research [2] A survey conducted by Visa in the region of Southeast Europe showed that 7 out of 10 citizens surveyed in Montenegro primarily use their smartphones to order products online.
However, with new consumer habits and more frequent use of smartphones for online shopping, comes a wave of new scams on the Internet, designed to reach as many consumers as possible. So, to fully enjoy this mode of shopping, you need to know about the safety of online transactions, challenges of online shopping and precautions that we can easily adopt.
A new type of scam means that online stores open for a short time, sell items, and then disappear. Scammers use social networks to advertise their fake website, so don’t believe its correctness just because you’ve seen it on social media. The best way to spot a fake merchant or scam is to check reviews and verify the site’s authenticity before making a purchase.
How do you know the site is secure?
First, it’s important to note that financial institutions protect your payments by using multiple levels of security to prevent fraud and theft of your data. A secure shopping site can be identified by the Visa Secure Tag, which is implemented on hundreds of thousands of merchant websites to make your online transactions more secure.
While many online sellers are legitimate, unfortunately scammers can take advantage of the anonymous nature of the Internet to gain customers. Using the latest technology, they create fake websites for sale, which have a sophisticated design and appearance. However, if you take a closer look at the URL, that is, the address of the site, but also its content, you can see that it is fake. For example, a URL may contain additional or different characters and symbols, and the website may contain grammatical errors or limited features. To be sure and avoid payment fraud, choose web addresses that have the https prefix in their names and a visible padlock icon. They are designed to withstand hacker intrusion and are recommended to be more secure when paying online.
How to make sure your data is secure?
Who has access to the card information is the most common dilemma faced by mobile phone users when shopping online. It is important to remember that you should never share your account number, the three-digit security code (CVV2) on the back of the card or a one-time password with anyone.
In addition to your own responsibility to protect sensitive data, the application of new technology is also of great importance. Visa uses tokenization, which allows for the replacement of confidential payment data in each transaction with a unique digital identifier – a token, without any risk. Consumers can upload card information to their mobile phones or business apps, and it will be replaced with a token, meaning it’s not stored anywhere.
To shop safely from your mobile phone, it is also recommended that you keep your device safe from viruses and hackers by regularly updating applications and software.
Unauthorized access and misuse can be prevented by selecting a strong password (a combination of lowercase and uppercase letters, numbers and symbols) or biometrics in case your smartphone is stolen or lost.
After all the measures taken, all you have to do is make a wish list and visit the virtual store and shop with a mobile phone that is at your fingertips at all times.
[1] Global e-commerce in 2020: E-commerce continues to benefit amid global economic insecurity. June 2020, eMarketer [2] “I choose digital” is Visa’s field survey on the perception of mobile payments. It was realized in the markets of Serbia, Bosnia and Herzegovina, North Macedonia, Montenegro, Albania on a sample of 2,750 card users during February and March 2021.
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