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  • Category: General

    Online Wallets are secure?

    I don't trust the way these days some of the websites and places are asking us to keep the money. I mean even banks can't be safe anymore. They have few factor authentication but overall it is just not worth risking. Recently heard about how some of the IIT students were tampering with the oxigen wallet website.

    That reminded me of earlier some of the cases where flipkart was misused with flash sales. Also some of the domino's offers were misused too. That gives some hint that most of the indian websites and security pages are not safe. And the way security is patched, it seems things are a bit ignored too.

    Do you hold money in such online wallets? I am getting money out of most of the wallets lately.
  • #23985
    Well, I do not hold much money in those online wallets. Not exactly because I do not believe in them. Neither do I believe them, nor do I stay away from them. I use those wallets only for my recharge needs. The wallets contain no more money than the cash back amount I receive on them.

    I guess the wallets have the same risk as the regular debit or credit cards have. Or the better option would be to get a virtual card. Freecharge and PayZapp are providing such cards which you can use on any merchant websites.

    Live....and Let Live!

  • #23986
    There are pros and cons on everything around. This is one of them as same as online banking or ATM card or Credit card issue arises sometime. However, one can use online wallet keeping nominal amount in it just for small and safer transaction while on the move. The online wallet really helpful for the travelers and businessman.
    Regards,
    Hafeezur Rahman

  • #23988
    I have been using credit cards and debit cards ( apart from net banking) on many of the e-commerce and recharge sites since long. I make it a point to avoid handling cash except when it is absolutely necessary. Inspite of that, I am yet to face any of the issues that have been reported with respect to usage of online accounts or wallet accounts.
    Maybe you need to be careful enough while handling the transactions.

    Well, as far as my personal experiences go, I do not mind keeling the money in online wallets as long as the wallet company is reliable one.

    Live....and Let Live!

  • #23991
    Yes not storing the details of the card is one good option. I never save my cards for future use. Most of the recharge sites offer that. And this is what makes it more harder for us to understand where the security issue happened. Until the security in most of the sites improves, there is no need to save the cards. I am also having second thoughts about ICICI bank online vault that stores some digital copies of things in PDF format etc. Who knows how secure are those too. But so far just trusting as I have seen ICICI working behind on increasing authentication for the same. I just can't trust some wallets because the security is a bit sloppy one.

  • #24019
    Generally we use online wallet to purchase, recharge mobile, DTH etc but there are go guarantee of security. Last time one of my friend recharge mobile, unfortunately wallet reduces but not recharge

  • #24020
    Phagu, that is a different case. If recharge is not done and your payment is done, it is refundex within seven days. You need to contact the customer care of the related wallet service.
    Our discussion is with respect to the security of the money from online frauds.

    Live....and Let Live!


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