wallet – PSafe Blog https://www.psafe.com/en/blog Articles and news about Mobile Security, Android, Apps, Social Media and Technology in general. Thu, 19 Jan 2023 14:49:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://www.psafe.com/en/blog/wp-content/uploads/2018/05/cropped-psafe_blog_purple-shield-32x32.png wallet – PSafe Blog https://www.psafe.com/en/blog 32 32 <![CDATA[Pickpockets Are Now Targeting Wallet Apps]]> https://www.psafe.com/en/blog/pickpockets-now-targeting-wallet-apps/ Fri, 05 May 2017 15:00:41 +0000 https://www.psafe.com/en/blog/?p=10806 Few people carry cash now, thanks to credit cards and mobile payment apps. If you use mobile payment apps, a banking app, or have debit and credit cards attached to your device, then you should be more cautious of security threats to your device. If you’re on-the-go and want to verify the security of your phone, use the Security Scan feature. Click here to quickly check your device for malware:

run-security-scan
Security Scan will quickly check your phone’s files and apps to make sure that your device is free of any viruses or threats. If any malware is found, Security Scan will quickly remove any threats. That way, you never have to neglect the security of your payment apps and personal information because you’re short on time.

Read More: New Credit Card Skimmers Harder to Detect Than Ever

Thieves Are Targeting Wallet Apps

In China, pickpockets are now targeting mobile payment apps. It was recently reported that more than $14 million was stolen from consumers through fraudulent QR codes. A QR code is a type of barcode that can be used for a variety of purposes: it can send you to a web address, log you into a website, or it can hold your payment information, such as your bank account information or your credit card number.

Unfortunately, this technology is still not a very secure payment method: hackers can easily manipulate a QR code and paste their own code over the original code. This allows them to then steal money from consumers. For example, a consumer could scan a QR code that, once scanned, becomes a malicious link. This could then lead to the consumer’s device being compromised, which is why it’s important to regularly scan your device for malware — you never really know how and when a virus will show up. Once the smartphone is infected with the virus, it can then be used to steal money from mobile wallet apps.

Payment apps are extremely popular in China — you can pay for just about any item, anywhere. You can use it to pay for dinner, get groceries, get a massage, and etc. You’ll then pay for goods by having your QR code scanned. More recently, a number of fraudulent QR codes have been attached to bike rentals in China. Thieves were able to trick consumers into sending money to them instead of the bike rental company.

While pickpocketing mobile payment apps is currently more of an issue in China, it’s always best to be vigilant about cybersecurity across the world: it’s very possible that this scam could make its way to the US. In order to improve the security of QR codes, payment apps need to actively alert users to suspicious activity. Further, QR codes should regularly be examined in shops and elsewhere to make sure that no one has been tampering with them.

]]> <![CDATA[The Venmo App for Android: No Wallet, No Problem!]]> https://www.psafe.com/en/blog/venmo-app-android-no-wallet-no-problem/ Mon, 27 Jun 2016 14:08:32 +0000 https://www.psafe.com/en/blog/?p=1679 Owe a friend money for dinner? Need to split a cab ride? What if you could make and share payments without having to carry around a wallet? Sounds great, right? Well, say hello to Venmo: the new tech app that makes cash old news.

What is the Venmo App?

The Venmo app is a free digital wallet that lets users transfer money to each other. The app makes sending, and receiving payments easier than ever before. You can pay anyone with a Venmo account using money you have in the app, or have linked to the app, all with the tap of a finger.

Venmo is also a semi-social network. You can add users as friends, and scroll through a “payment feed,” just like you would on other social media platforms, like Facebook or Twitter.

How Does it Work?

Once you download Venmo, you can setup an account profile, and link your debit/credit card or bank account information to the app. Be aware that debit card, and bank account transactions are free, while credit card transactions require a 3% fee.

Although Venmo asks to collect your financial info, there’s no reason to be alarmed or worry about security. Nothing on your profile is public, and the app uses bank-grade data encryption to protect your info, all of which is stored and protected on secure servers. Users can additionally get email alerts about account activity to stay on top off their transactions.

After making an account, you can quickly make payments to anyone who has a Venmo username. Simply type in, or select a username in the app, enter the dollar amount in the top-right corner, add a note to explain the payment’s purpose, and tap away! Transfers only take a few seconds.

With Venmo, users can also request payments from friends. No more sending texts to ask for your money back! Your friends will receive notifications when you request payments, and follow-up notifications to remind them to accept the charges. Does your wallet do that?

How Can You Get Started?

All you need is an Android or other smartphone device to get started. Download the app, setup your account profile, and you can send and receive payments at your convenience! It’s that simple.

Think you’ll download the Venmo app? Already an avid Venmo user? Let us know your thoughts in the comments below, and if you’re looking for other apps that can help with your money matters, check out our blog post on top money management apps.

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