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The safest ways to pay in 2022 & beyond


The safest ways to pay in 2022 & beyond

Cybercrime is on the rise. Many of the most serious criminal acts involve online and in-person payment methods, as well as general identity theft. According to the Insurance Information Institute (III), scams involving government benefits including federal stimulus payments were the leading cause of identity theft in 2020 at 32 percent. New credit card account fraud was second, accounting for 30 percent of all identity theft cases last year.

Secure online payment methods

These online payment options will make it as easy as possible to shop online and keep your transactions secure.

Credit cards

Credit cards are the safest and most secure way to pay online. Credit cards offer online security features such as encryption and fraud monitoring that protect your personal information and accounts. Many issuers offer zero fraud liability, which means you won’t be responsible for any fraudulent transactions that are charged to your credit cards.

Conns Credit card

These cards are popular with homeware, electronics and appliance retailers. They come with high interest rates, but they offer a variety of benefits and financing options that can help you increase your purchasing power.

You need to make your conns payments. Log in to view your statement and manage your account online. To understand your options for making a payment if you have the Conn’s Credit Card, please refer to the guide below.

You need to understand how this card works if you plan on applying for 0% financing. The minimum monthly payments will be based on the purchase balance. However, these minimum payments will not suffice to cover the purchase in full at the end of the financing period.

ACH payments

You can transfer funds from your checking account directly to an ACH account using Automated Clearing House payments. The payment network has many security features to protect your banking information, including encryption and access controls.

Voice payments

According to the 2020 How We Will Pay Study, Visa and PYMNTS, 23 million people who have voice devices, such as an Amazon Echo or Google Nest use them to make purchases, while they go about their day. You should choose a zero fraud credit card as your preferred payment method if you want voice payments to be more secure.

Secure in-person payments

In-person payments are now more secure than ever thanks to technology. This is especially true for people who pay in person with a mobile device. These in-person payment options offer enhanced security features to help protect your personal data.

EMV chip technology on credit cards

EMV chip technology replaces the magnetic strip that was used in the past to enable you to pay in person. EMV technology allows the payment terminal to read your card and retrieve the encrypted data transmitted by your chip. This technology is useful in preventing counterfeit fraud, as the unique encrypted information can be used for different transactions.

EMV technology has seen rapid growth over the past decade in both the U.S. as well as around the globe. According to EMVCo standards body, almost 9/10 (86%) of all card-present transactions in the world were made with EMV-chip enabled payment cards in 2020.

Contactless payment credit cards

Contactless payments are the same technology used by pin and EMV credit cards. Contactless payments are possible with a credit card. The card will be held above the payment terminal, and the terminal will be given an encrypted, one-time code to complete the transaction.

Contactless payments were already on a rise before the outbreak of the coronavirus. This trend has been only exacerbated by this pandemic. The 2020 How We Will Pay Study found that 60 percent of consumers, or 148 million people, would prefer to use contactless payment at the point-of-sale if they had the option.

Apps for payment

PayPal, Apple Pay, Google Pay, Apple Pay, and Facebook Pay allow you to store multiple payment methods in one location for security and convenience. You can also benefit from features such as notifications, multi-factor authentication, facial or fingerprint recognition, and notifications.

You can avoid paying with these payment methods

Although every payment method has its disadvantages, debit cards offer the most risk. Although debit cards offer credit, you do not have to carry cash or write checks. However, the funds you use will be tied to your bank account.

READ MORE: The Best Instant Cryptocurrency Exchange with Low Fee

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