4 Rules of Digital Payments for Individuals and SMEs

Today, the Internet is arguably the greatest resource available to individuals and Small & Medium-scale Enterprise (SME). For the individual, it has an endless stream of resources that bears great potentials for next to anything. For SMEs, it is the platform that affords digital transformation and opens windows to unique opportunities while helping them reach new customers and grow in competitive and populated markets.

However, the Internet—if not utilised properly—can also pose a risk to both individuals and SMEs – especially when their money is involved. So, to help you stay safe while maximising online payment, here are the top rules you must be aware of.

1. Guard your passwords diligently.

Your passwords are yours – they are even more delicate when your money is involved. So, be careful where you input them.

• Do not pay using someone else’s computer or using public WIFI.

• Watch out for cues like the absence of a locked padlock sign before the URL.

• Do not pay on sites where the “s” in “https” is missing in the URL.

• Activate two-factor authentication whereby you add another verification step like receiving a text message or email, or answering a security question.

2. Trust with caution.

Before you download any app or insert your financial details on any website, be sure of who they are. Read reviews and do not be hoodwinked by the number of downloads or site visitors. Install only apps you need. Download only from the official play store or app store of your device, if possible and be weary of apps that require excessive permissions and access to your device.

3. Look before you leap.

As an SME that would like to receive payments, you must research about the payment platform you are about to adopt. What is their antecedence? Any testimonials or are they plain new off the blocks? What benefits do they offer you that no one else does? Ask simple questions and get answers for the safety of your business. A simple googling always does some magic!

4. Keep your receipts.

Typically, after every payment, you get a receipt which often goes into your email. Remember to keep them and not be in a hurry to discard as you never know when you will need them. They are the evidence that a business transaction ever happened between you and a merchant.

Talking about digital payment, its hazards and trust has an essential currency. Whether as a business or individual, Paylink is one trusted avenue through which you can receive payments from anyone round the clock in a secure and instant manner by simply sharing a payment link.

As a payer, when a business or an individual sends you their Paylink, do not fret. You are in safe hands as it is powered by Remita, a payment technology that transformed the finances of businesses and individuals for more than a decade. Visit www.paylink.ng to find out more.  

Did we miss out on any? Feel free to add it in the comment section.