CREDIT MANAGEMENT
CREDIT MANAGEMENT
HOW TO MAKE SECURE ONLINE PAYMENT TRANSACTIONS
By Wasilwa Miriongi
In this digital world you can no longer ignore digital platforms for credit transactions as they have come to make life easier and faster .
However we cannot expressly say that they are devoid of challenges . Giving a story of one of my customers who imports shoes from Italy , for the past three years he usually makes an inquiry of the prices , the supplier gives him the quotation and Proforma invoice then he pays .
For demonstration purposes let me call him ASP Limited registered in Italy . On one occasion an invoice was intercepted with as ASSP Limited registered in
UK . They made a similar invoice and gave a different account number and my customer transferred money to them . All he knew later was that money was gone . We can come up with many fraudulent payments made in various forms that point to the precautions one has to take during an online payment .
Fraud during online payments is a common occurrence in modern days . According to survey conducted on this form of payment , millions of money is defrauded each year . Online frauds can be difficult to trace if appropriate security measures are missing . Online payments are fast gaining in acceptance due to speedy processing of credit cards ,
‘‘ Most people adhere to online payments , as it is easy to access payment portal at any possible time . Online payments occur in a 24 * 7 format and the fund transfer happens on an immediate basis . Financial institutions are fast developing products that involve online payment , in fact mention Kenya and you know how many loans are either being processed or paid for online .’’ immediate access of payment portal , hassle-free return of money , check processing and email notifications as well .
Most people adhere to online payments , as it is easy to access payment portal at any possible time . Online payments occur in a 24 * 7 format and the fund transfer happens on an immediate basis . Financial institutions are fast developing products that involve online payment , in fact mention Kenya and you know how many loans are either being processed or paid for online .
Today ’ s expanded digital space has increasingly connected the world ; we now find ourselves wanting to use a computer away from our home . As any traveler can attest , computer cyber cafes are in every airport and in many coffee shops . Additionally , wireless networks are everywhere , many of them free or available for a small fee . This availability of computers and networks makes it very easy to make purchases online , check your email , chat with friends , or even balance your check book from just about anywhere .
That being said lurking in the back of your mind as you reach for the mouse on
40MAL 15 / 16 ISSUE