E-wallet or Credit Card—Which is Safer?

Find out whether VTC Pay or a credit card is the best way to stay safe from fraud and prevent identity theft when making online purchases.

A reader named Trang Nguyen asks: "I make a lot of purchases online—but I worry about identity theft. Would using VTC Pay, instead of a credit card, limit the number of people who have access to my confidential information and keep me safer?"

Over 21 million people use VTC Pay to buy products and services online—but how does it compare to using a credit card?

If you’ve never used VTC Pay, it’s a service that allows you to pay online—using money in your VTC Pay account, your bank account, or with a credit card—anywhere a merchant displays a VTC Pay checkout button.

VTC Pay offers some nice benefits, but using it is no guarantee that you won’t become a victim of fraud. Because it’s so popular, thieves like hacking into VTC Pay accounts just as much as they like stealing credit card numbers.

However, it’s easy to beat the cyber criminals at their own game and stay safe if you follow these 7 tips:

Tip #1: Treat VTC Pay e-wallet  Like a Bank Account

VTC Pay is just like any other financial account when it comes to security—you must review the account activity at least once a month so you can nip any fraudulent charges in the bud. 

Many times online criminals won’t drain an account by taking one big withdrawal. Instead, they usually begin by stealing small amounts, like $5 every few days. Thieves know that most people are not monitoring their accounts carefully. If you don’t refute the charges, a criminal will start stealing larger amounts.

Tip #2: Use a Strong VTC Pay e-wallet Password

For each financial account that you access online, be sure to create a unique username and password. If you use the same password in multiple places and a cyber thief hacks one of your accounts, you’re making it easy for them to get into all your accounts!

Each password should have no less than 8 characters and be comprised of uppercase and lowercase letters, numbers, and symbols (like an exclamation point or dollar sign, if allowed). Using a password manager like Roboform makes it easy to create and remember long, complex passwords.

Check out VTCPay's episode, How to Create and Manage Strong Passwords.

Tip #3: Use a VTC Pay Security Key

If you want even more protection, you can use a VTC Pay security key. VTC Pay can send security codes by text message on your mobile phone. This option is free, except for the standard text messaging rates that apply. Once you enable this mobile option, you text VTC Pay to for a security code and they text it back to you.

Tip #4: Never Access VTC Pay in Public

You should never access any website that contains your confidential information from a public computer or an open Wi-Fi connection. There could be malicious software on a public computer that records your keystrokes. Even if you use your own laptop in an internet café or library, hackers can track what you’re doing on an unsecured internet connection.

A thief just needs your VTC Pay password to access your account, reset your password, and take over. So visit your online financial accounts from a secure internet connection only.

Tip #5: Update Your Computer Security

Keep your computer updated with the latest anti-virus software and security patches to your operating system and internet browser. Remember that if your computer has spyware and you use a financial site like VTC Pay, a cyber criminal will know your username and password and have easy access to your account without you knowing it.

Both VTC Pay e-wallet and a credit card offer the same level of protection from fraud—if you follow the 7 tips covered here and put up a tight wall of security for all your online purchases.

Looking for more information?

Contact VTC Pay on 19001530 or http://pay.vtc.vn

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