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Confused about what’s a mobile wallet

Friday, March 10, 2017, 5:41 AM

Mobile wallet is nothing but a virtual wallet. You open an account with a mobile wallet service provider and preload money into it. With mobile wallets, you can make payments with a single tap, unlike net banking where you open several browsers which is time consuming. You can also get rewards for using your mobile wallet in the form of cashbacks and discounts.
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How to protect money in your mobile wallet?

Friday, March 3, 2017, 6:49 AM

Download apps directly from company sites, not from third party sites. Use a strong password. Your password should be a mix of alphabets, numbers and even special characters. Go through your mobile wallet statements very carefully. Hackers take small amounts of money from your mobile wallet. You need to be alert to catch them. Have a good anti-virus on your smartphone.
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Is your mobile wallet safe?

Wednesday, March 1, 2017, 12:21 PM

If your mobile phone gets infected by malware, your mobile wallet is at risk. If you download games and apps from sites which are not authenticated, you have not installed an anti-virus on your smartphone, your money is at risk. The main risk to your mobile wallet is leaving your mobile phone lying around, where pretty much anyone can use it.

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