Top 5 Tips To Ensure Mobile Transaction Security
In the US alone, mobile apps account for 90% of internet usage. And with every passing year, the usage of mobile apps sees a global exponential increase.
Using a mobile app has become so second-nature that most people are not even aware that there is a growing need to ensure their own security when using these apps to pay for goods and services online. However, mobile transaction security is necessary, as almost every known mobile application to date has been hacked in the past.
“Mobile malware has been on the rise drastically in last couple of years,” says Nathan Collier, Senior Malware Intelligence Analyst at Malwarebytes. “Everything from backdoor malware that steals personal information to ransomware that locks your phone until payment is made exists in the mobile space. With millions of malware samples in the wild, there is no reason not to be concerned.” (Wendy, 2016).
Cracked mobile apps, especially when professional and personal interests are merged in one app or one device, increases the risks of identity theft, intellectual property theft and major loss of revenue. Companies are consistently under pressure to release security patches to combat the menace.
So, how can we protect our property against hackers on mobile apps?
- Use Secure Passwords Or Fingerprint Detection
Do not wait for apps to require you to set up thing passwords before you adhere to password strength requirements like a combination of uppercase and lowercase letters or minimum password length or the use of special characters or the inclusion of at least one number (What Are The Password Requirements, 2014). Always enable fingerprint detection on your device.
- Encrypt your data
Users must make sure that they only use mobile apps that support end-to-end encryption of private data. This is especially necessary for banking or investing apps. Developers and app testers should see it as their responsibility to encrypt all in-app communication.
- Only Use Official Apps
Beware of downloading apps that are not hosted on reputable App Store or the official website of the app company. They have been repackaged and armed with malware and data-capturing capabilities. Also, be very careful about apps that display unwanted ads or mine device information without the consent of the user (Samarpan, 2014).
- Configure Remote Wipe
This is very easy to do. It’s just like setting up Google Sync on your Android or iCloud on your iPhone. This function enables you to remotely wipe all data from your phone when your phone gets missing. This feature also helps you retrace your device.
- Back-end Server Security
Developers should ensure that the apps they develop have back-end security in place as well as mechanisms that support all API authentication and VPN or SSL tunneling. These guard against hacker activity and prevent them from eavesdropping on users’ sensitive data, thereby keeping theft and loss in check.