Encryption of Money Transactions

Whenever people are online, they not only receive information, but also reveal information. Several people purchase services and products, including casino gaming services, online. Whenever people purchase goods and services online, they are required to reveal a lot of personal information, most of it financial in nature. For instance, customers online are prompted to reveal their names, address, email address, telephone number, passwords, personal identification numbers (PINs), credit/debit card details, bank account details, and much more.

 

Several people, especially those new to the world of online transactions, question the security of online transactions. However, online customers do not have to worry thanks to an advanced security solution called encryption, which makes sure that all money transactions are safe, secure, protected, and inaccessible to third parties.

 

Basics of Encryption

 

Several methods are used to protect customers’ private, sensitive information, especially their monetary transactions and financial details online. The most widely used of all these security solutions is encryption, which in layman’s terms means putting information in a scrambled form or encoding it so that only a computer holding the “key” can make any sense of it. This prevents third parties and unsavory characters such as hackers and identity thieves from gaining access to customers’ valuable financial information.

Encryption can therefore simply be defined as the process of putting sensitive money-related information in the form of a code that can be cracked only by an authorized party, thereby preventing third parties from gaining access to it.

 

Some Tips to Ensure Safety of Money Online

 

First, people who purchase a lot of goods and services online must download and use only the latest version of their Internet browsers. This is because only the latest versions use modern encryption technology, which includes Secure Sockets Layer (SSL), an online security protocol widely used by web services and browsers to transfer private financial information from one point in web space to another. This encryption solution ensures that only the authorized server can decode and use the information, thereby protecting it from identity thieves and hackers.

 

Second, online customers must check if the URL of their website has an https:// instead of just http:// along with the icon of a lock. This means that the website is really safe and uses the latest encryption technology to protect money transactions and financial information.

 

Third, websites using encryption technology are authenticated by independent authenticating services such as Verisign. Customers, including those who play real money games online, can check if their gaming site is authentic by clicking on the Verisign logo and checking the site.

 

Finally, customers should never reveal their financial information or attempt to make any purchase online until and unless they have read the privacy policy of the website thoroughly. The best online providers of goods and services ensure customers in their privacy policy that they will never reveal their customers’ monetary and personal details to third parties. Some privacy policies are accompanied by logos of third party services that review these privacy policies and make sure that they meet industry standards.