Digital Payments – Page 2 – Vitiyagyan

What is USSD Payment Mobile Banking and how does it work?

USSD payment mobile banking, is a type of mobile banking that allows you to perform banking transactions using Unstructured Supplementary Service Data (USSD) technology, which is a communication protocol used by mobile networks.
In simple terms, USSD banking enables you to access banking services and make transactions by dialling a specific code on your mobile phone, similar to how you make a phone call.

Point of Sale (POS) refers to the physical location or device where a customer makes a payment for goods or services they have purchased. It is the place where the transaction between the buyer and the seller is completed.
A point of sale can be thought of as a checkout counter or cash register in a store, restaurant, or any business establishment. It is the area where you go to pay for the items you want to buy.

AEPS (Aadhaar Enabled Payment System)

It is a payment system that allows individuals to carry out banking transactions using their Aadhaar number and biometric authentication.
AEPS uses your Aadhaar number, which is a unique identification number issued by the Government, to access banking services.
Instead of using physical documents like cards or passbooks, AEPS relies on biometric data such as fingerprints or iris scans to authenticate transactions.

Change password assigned by the Bank for the first time.
Download app from trusted source.
Use trusted Wi-fi Network and Computer system for digital transactions.
Install an antivirus on computer to remove viruses that steal important information.
Always clear your browser cache after each session.
Log off completely from banking website, close the browser and log off computer when not in use.
Register for SMS alerts to keep track of the transactions in your account.

Don’t disclose your personal/ confidential information to anyone over email/ SMS/phone call.
Don’t enter login or any other sensitive information in pop up window.
Avoid accessing internet banking account from cyber cafes or shared computer.
Do not share confidential information with anyone like Pin.
Never use “Remember password’ feature provided by the browsers to save your net banking password.
Don’t use mobile devices to store user id, password, or any other account related sensitive details.
Don’t leave your internet banking session unattended. Always log out completely.

Below, they share 14 security measures you should take.