Not-so-fun fact: In 2023, online payment fraud led to global losses of over $48 billion, with North America being the\u00a0hardest hit<\/a>, responsible for 42% of those losses. The main culprits? A vast volume of data breaches and the broad availability of stolen credit card information.<\/p>\n As online shopping continues to grow, so do the risks associated with digital payments, underscoring the importance of adopting safe online shopping practices.<\/p>\n<\/div>\n<\/div>\n When you\u2019re shopping online, be mindful of where you\u2019re connecting from. Public Wi-Fi is convenient when you\u2019re out and about, but it\u2019s also a playground for digital theft. Stick to your home network or use your mobile data when entering sensitive information.<\/p>\n If you\u2019re often on the go, consider using a virtual private network (VPN) to add a bit of privacy and security. A VPN encrypts your data, making it harder for someone lurking on a public network to grab your personal info.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div> Pro Tip:<\/strong> Before you enter any payment details, always check for the little padlock symbol and \u201chttps\u201d in the website\u2019s URL. It\u2019s a simple way to make sure the site is secure.<\/em><\/p>\n<\/div><\/div><\/div> Another way to secure your digital wallet is by using trusted payment methods like PayPal, Apple Pay, or Google Pay. These platforms add an extra layer of protection and often come with buyer protection if something goes sideways. Plus, your card info stays hidden behind a digital wall (\u201ctokenization\u201d), which means even if the website you\u2019re shopping on isn\u2019t super secure, your actual card details aren\u2019t exposed.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div> You know when you log in somewhere, and the site asks for a code sent to your phone? That\u2019s multi-factor authentication (MFA), and it\u2019s one of the easiest ways to protect your financial information online. With MFA, even if someone has your password, they won\u2019t be able to access your account without this second layer of verification.<\/p>\n Most banks, credit cards, and digital wallet platforms now offer MFA, and it\u2019s easy to set up. It only takes a moment but could save you hours of headaches if your account is ever targeted.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div> We all hate password juggling, but they\u2019re your first line of defense. If you\u2019re still using your dog\u2019s name or \u201cpassword123,\u201d consider this your reminder for an upgrade. Strong, unique passwords are key to digital wallet security. And if you\u2019re worried about remembering them all there are\u00a0password managers\u00a0that\u2019ll do the heavy lifting for you.<\/p>\n Password managers create and store strong, unique passwords for each account, so you don\u2019t have to remember a million different variations. And don\u2019t forget to update your passwords regularly, especially for accounts tied to your finances.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div> Pro Tip:<\/strong> If you haven\u2019t already, make sure MFA is turned on for any account where you store payment info\u2014think bank apps, PayPal, or your favorite online retailers.<\/em><\/p>\n<\/div><\/div><\/div> Staying on top of your bank and credit card accounts is the easiest way to detect fraud early. Make it a habit to check your transactions each week for anything unusual. To make life easier, set up real-time alerts with your bank, so you\u2019re notified whenever a purchase is made on your account.<\/p>\n Also, be cautious of phishing scams, where fake emails or texts try to trick you into sharing personal info. If you get a suspicious message from a retailer or bank asking for sensitive details, it\u2019s best to avoid clicking any links\u2014if it feels off, trust your gut.<\/p>\n<\/div>\n<\/div>\n It\u2019s tempting to save your payment info on your favorite shopping sites to make checkout faster, but this can be a weak link in your security chain. While major retailers tend to have strong security, smaller or less reputable websites may not. As an alternative, stick to using trusted payment platforms (like PayPal or Apple Pay) to avoid having your card info stored on multiple sites.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>Start with a Safe Connection<\/h2>\n
Use Trusted Payment Platforms<\/h2>\n
Turn On Multi-Factor Authentication (MFA)<\/h2>\n
Update Your Passwords (And Use a Password Manager)<\/h2>\n
Monitor Accounts and Watch for Phishing Scams<\/h2>\n
Avoid Saving Payment Info on Retailer Sites<\/h2>\n