The main reason behind the increasing demand for digital wallets is the convenience of paying for expenses using your smartphone. Introduction of digital payment has eliminated the use of cash or the necessity to keep a physical wallet with ourselves. However, in this digitally advanced age, do you get confused whether an e-wallet is a safe option to use? If these questions cross your mind, you don’t need to worry. Let us understand how one can secure and protect their respective e-wallets.
E-wallet
E-wallets are electronic versions of physical wallets that are capable of storing different debit and credit cards that can be used for transaction purposes. Now with a digital wallet, you are saved from the hassle of carrying a wallet stuffed with cash, credit, and debit cards.
E-wallets make it super easy to pay with your smartphone just by few clicks on the smartphone. Payment through, this mode is quicker, contactless, and convenient. Also, you can store the information of numerous cards, which helps to eliminate the need to carry around different cards.
However, with the increasing demand, there has been an increase in digital fraud as well. Thus it becomes extremely crucial for you to save your e-wallets. Here is why you should secure your e-wallet, and the tips to do it.
Why secure an E-Wallet?
Can you imagine the hassle you must face if you lose your wallet? Under these circumstances, you will not only have to cancel your cards, notify the banks, and wait for a replacement, but you will also have to deal with the stress of losing your personal information to a stranger, this sounds stressful. This is the reason behind the demand for digital wallets.
But, unlike a physical wallet, its absence is notified so quickly. Whereas, an e-wallet may be compromised by cyber frauds without being in your notice. The frauds go unnoticed at times which can lead to a huge financial loss. Thus, with the growing digitalisation, it has become extremely crucial for you to ensure the safety of your e-wallets.
If you are willing to know the ways through which you can secure your e-wallets, here are some tips for you.
Tips to protect your e-wallet
- Set unique passcode
To protect your e-wallet from fraud, you need to secure it with a passcode. It is undoubtedly the best way to stop cybercrime. To set a passcode, you must make sure that the numbers are random and are different from the passcode on your phone. Birthdays, anniversaries, house addresses, and phone number digits are very easy to crack, so avoid setting these a password. You can also secure your digital wallet app with facial recognition or a fingerprint scan if your mobile wallet app allows doing so.
- Regularly update the software
Downloading, and updating the latest software is another way to secure your mobile e-wallet. The developers are constantly patching the security holes to ensure that the latest software is secure. To ensure that you do not miss any new releases, you should turn on the automatic updates. Bajaj Pay Wallet keeps on updating with the new requirements and needs.
- Download the e-wallet apps directly from the official websites
Before you plan to get a digital wallet and ditch plastic cards for payment methods, you must make sure to research the different reliable banking apps. Make sure to download the e-wallet application from the App Store, or Play Store, or the official website. Then you must check out the downloads, and reviews the app has to make sure you are downloading an official app. For Bajaj Pay Wallet, you can download the Bajaj Finserv app.
Bajaj Pay Wallet: All that you need
E-wallets are mostly safe but not invulnerable; therefore, ensure that you employ additional security features to eliminate the risk of fraud. If you want to download the most reliable e-wallet, the Bajaj Pay Wallet is the best option for you. We consider the safety, and security of the personal information of our customers as the top priority, and thus our Bajaj Pay Wallet is specially designed with all the safety features. You can now safely transfer money to the wallet and use it instantly to pay anytime, and from anywhere.
Download our Bajaj Finserv app, and never miss a chance to save extra.
