From card readers to TANs, nowadays more security aspects are connected to payment technologies than ever. But which online banking methods ensure the best security for your funds? We discuss.
A survey of the German public broadcast channel MDR showed that many Germans already use banking apps for their personal banking use. Yet when using banking apps, it is important to keep security in mind. Measures should be taken not to save personal mTANs or PINs anywhere in the smartphone or tablet, as these devices can be accessed by third parties. Users should also refrain from using their banking app on a public Wifi network.
Over time payment via mobile is becoming more comfortable, as recent developments in fingerprint technologies show. However, users should also know that these are not proven to be 100% secure: at a recent conference, security breaches were shown in the fingerprint technology on Android phones. These vulnerabilities included being able to skip the authorization process as well as third-party access to the fingerprint sensor. Apple’s Touch ID was not tested at the same presentation but is said to be secure.
When using a TAN verification method, users should use a ChipTAN device or SMS TAN. During a transaction confirmation, the ChipTAN device generates a one-time TAN that cannot be accessed by third parties. Similarly, SMS TANS are sent directly to the verified user’s smartphone and cannot be reached by external attacks.
If you want to know the most secure payment method to use on the Internet, T-Online has put together a nice summary, which can be found here.