Keeping your personal data safe when travelling abroad is one of the biggest considerations before people set off on holiday.
Ensuring your money and personal details are kept secure can be helped by using an e-wallet to make all your purchases while you’re away. Moreover, you can consult the company you are doing transactions with about whether they employ secured tokenized payment gateways to protect your payment information like bank account details. By utilizing pci dss services solutions, a business could follow PCI compliance rules and keep your online trades protected from prying eyes.
If you want to learn about online payment security, here’s our quick guide to e-wallets and why you should use them when travelling abroad.
What is an e-wallet?
An e-wallet is an online payment method which allows you to make purchases by using an email attached to your account without sharing your personal details to the vendor.
Apple Pay and PayPal are amongst the most well-known options, with travellers using them to fund their holiday purchases.
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What are the benefits?
Speed, ease of use and increased security are amongst the major benefits of paying with e-wallets when travelling abroad.
Cash, credit cards or traveller’s cheques have previously been the most popular methods of payment for holidaymakers, but e-wallets are a much more secure option.
Your payment data in an e-wallet is encrypted, with retailers not receiving this data at the point of sale, adding another level of security to your transactions. You could also add to this security by getting one of the best free vpns out there to help further protect your details from falling into the wrong hands.
They’re more convenient
Losing your luggage or having your wallet stolen when you’re travelling can lead to you being left high and dry financially while you’re abroad.
An e-wallet lets you link multiple accounts into one easy to use area in your smartphone, helping you carry less personally sensitive items around with you.
Creating an e-wallet is simple
Setting up an e-wallet is really easy. Just download the app, follow the instructions to your account and add your payment details.
Your money is kept safe in an e-wallet. Just enter a password or other verification details any time you want to view your account or make changes.
E-wallets are now widely accepted
E-wallets are now being accepted by an increasing number of retailers around the world.
Debit/credit cards slowly replaced cash – now e-wallets are emerging as a new and safer alternative.
As the technology develops e-wallets will grow in popularity, potentially replacing other methods of payment in the future.
Conclusion
The increased security available when using an e-wallet means their use when travelling abroad makes perfect sense.
It’s important to remember to keep your mobile devices fully charged so you can always complete a purchase, but this is a minor drawback to using an e-wallet.
E-wallets are sure to increase in popularity over the coming years, with consumers and vendors benefiting greatly from their convenience.