E-PAYMENT SECURITY

E-PAYMENT SECURITY

Robert Inkaka Kanyamanza

You should always take precautions to make sure that your cash goes only where you want it to go. While fraud is an uncommon risk, it can be devastating when it happens.
That’s why electronic payment environment need security precautions that are robust enough to replace offline controls in the online world.

The level of control and restricted access to different types of transactions of accounting files can be easily duplicated in the universe of electronic payments.
If you’re currently using online banking for either your personal or company needs, you’re probably accustomed to having only one level of password to cover all your online banking. So whoever have access to the password has access to all the functions that online banking offers.

With more sophisticated online payment systems, suite of online cash management services, you get total control over who has access to different parts of your accounts or transaction capabilities. So you can effectively mirror the security set-up in place in your company.
You can assign access and privileges to every type of file creation or change to wire payments , account transfers and ACH (automated clearing house) direct payments and deposits. Of course ROBERTKA Business Solutions will only suggest financial instructions’ products that maintain precise records of who did what when, you will always have a trail to follow if a problem of question arise.

ROBERTKA Business Solutions will recommend systems with two factor authentication that make online security more trustworthy. In these systems, the user needs a personal password as well as a number in a form of a SecurID token that every authorised user carries. The token displays a number, much like an odometer reading, that changes randomly each minutes. Only when the authorized user enters both the password and the current number on the token will an approval be confirmed.

In other words, a hacked or stolen password won’t work without a corresponding token.

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About ROBERTKA Media.Inc 178 Articles
We are a Media and Communication Company specialized in the production of business information contents, financial and management notions and analysis. We also produce and publish World and African business headline news. We mostly focus on producing text and video analysis covering worldwide economic, commercial, management and financial trends which have a strong leaning and inclination on African businesses and affaires. We publish under the banner of our consultancy house: ROBERTKA Business Solutions.inc Join the conversation!

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