Risks and Threats in SoMe: Payments


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This presentation will give a short overview over the Risks and Threats in ONLINE PAYMENTS.

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Risks and Threats in SoMe: Payments

  1. 1. Assignment 4 Risks and ThreatsPAYMENTS Social Media in Marketing Tanja Berg - 1201830 HAAGA-HELIA Porvoo CampusSocial Media in Marketing Picture: http://www.worldpay.com/images/slider-online-payments1.jpg
  2. 2. Agenda 1 Payments – Overview 2 Online Payment Methods Advantages and Disadvantages/Risks 3 More Risks and Threats 4 10 Tips to overcome RisksSocial Media in Marketing Logo on all slides: http://www.worldpay.com/images/slider-online-payments1.jpg Picture: http://www.banktip.de/UserFiles/Teaser/160x120/kartendieb_detailblick_fotolia.jpg
  3. 3. Payments - Overview ? How does the Customer visits Customer selects Customer proceeds money come Website Product or Service to checkout and pay from customer to seller?Payment Methods in E-Commerce No data transfer online! Offline Payments Buyer always goes to bank - Payment on Receipt of Invoice and releases money directly - Prepayment - Cash on Delivery Buyer’s Bank Seller’s Bank - Factoring (via intermediary) money Online Payments - Direct Debit Let’s learn more - Credit card about that… - Online Payment Systems - Account based PaymentSocial Media in Marketing http://www.paymentexpress.com/knowledge_base/merchants/risk_fraud_management.html http://www.deutsche-card-services.com/en/kartenakzeptanz-pos-epayment/payment-methods-at-a-glance.html
  4. 4. Online Payment Statistic Paying Online gets more and more popular in the world. According to a BITKOM Survey in 2009 every fourth European has already paid online and there are many countries where even more payments are settled online.Social Media in Marketing http://www.bitkom.org/de/presse/56204_52806.aspx
  5. 5. Online Payment - Methods Direct Debit and others 1 Buyer transfers account information to Seller 2 Seller hands this information to his homebank 3 Seller‘s bank requires money from Buyer‘s bank 4 Buyer‘s bank releases money - Wrong debits (misuse of account data) + no additional costs + no intermediary - maintain enough money on account + buyer has possibility to disapprove + easy and fast - insufficient money can cause fees payment within a certain period + always on time - prepayment risk + no credit-use - … Credit Card 1 Buyer transfers credit card number, expiration date and CVV and others (depending on card provider additional data is required) during purchase 2 Direct data transfer to provider and payment + worldwide accepted -Wrong debits (misuse of account data) + money always available - additional costs for credit use + easy and fast - risk of losing overview of account + providers try to have high security - prepayment risk -… http://voices.yahoo.com/pros-cons-using-direct-debit-automatic-235814.htmlSocial Media in Marketing Pictures: http://www.thrivehomes.org.uk/images/Logos/direct%20debit.jpg http://www.deutsche-card-services.com/en/kartenakzeptanz-pos-epayment/payment-methods-at-a-glance.html http://www.multicards.com/css/img/3dsecure.jpg
  6. 6. Online Payment - Methods Online Payment Systems and others 1 After purchase, Buyer is forwarded to Payment System Provider 2 Providers are linked to a account or a credit card of the Buyer 3 By entering his password and approving the transfer, payment is settled - Wrong debits (misuse of account data) + Payment Service to provide more security - Having Password = full access to accounts + Account data is not transferred to Seller - additional costs (depending on provider) + Depending on Provider some risks are covered - registration and approval necessary before purchase - prepayment riskAccount based Systems and Online Banking 1 After purchase, Buyer is forwarded to Home Online Banking Platform 2 Providers connect to Online-Banking Platform of Buyer‘s bank 3 Buyer logs in by using his bank‘s username and password and others + direct link to homebank -Wrong debits (misuse of account data) + no registration necessary - intermediary can see Buyers Login data + Account data is not transferred to Seller - prepayment risk + no additional costs -…Social Media in Marketing http://www.giropay.de/index.php?id=11 https://www.paypal-deutschland.de/privatkunden/was-ist-paypal/paypal-for-you.html Pictures:http://www.deutsche-card-services.com/en/kartenakzeptanz-pos-epayment/payment-methods-at-a-glance.html
  7. 7. More Risks and Threats 1 Bypassing Anti-Virus, Anti-Malware and Firewall software to find out account data and passwords on your computer 2 Keylogger software, polling and hooking attacks allow frauds to follow every single keypress you do on your computer 3 Hacker-tools and Trojans allow frauds to install different surveillance applications on your computer and even redirect you to a faked Online Banking homepage of your home bank to find out your account data and password 4 Faithful Bank Phishing E-Mails sent to your email account requesting to click a link and enter account data 5 Security gaps in wireless LAN areas allow frauds to review your entered data and to redirect you on faked Online-Banking pages 6 Same risks (or even more) with Mobile Banking. 7 Frauds are always working on new methods to get your data!!!Social Media in Marketing http://www.compliancemagazin.de/compliancefachbeitraege/hintergrund/ahnlab110111.html Picture: http://www.couriermail.com.au/ipad/state-at-risk-of-online-fraud/story-fn6ck51p-1226081624133
  8. 8. 10 Tips to overcome Risks 1 Chose your password and username carefully, never save it! 2 Be aware of the Lock on your banking website 3 Protect your WLAN connection (WPA2) 4 Be aware of the homepage address(no strange dots, words or ending) 5 Only use your own computer to do Banking 6 Don’t react on Phishing Mails (your bank will never require data from you via e-mail!) 7 Have and always update your Computer software, Firewall, Anti-Malware and Anti-Virus software 8 Be suspicious in every Banking process and break up the transaction and alert your provider if you doubt 9 It’s not necessary to pay everything online! 10 Always keep an eye on your bank statementSocial Media in Marketing https://www.bsi-fuer-buerger.de/ContentBSIFB/SicherheitImNetz/EinkaufenImInternet/OnlineShoppingbeachten/shopping_was_beachten.html http://www.mediadesign24.de/sicher-bezahlen-im-internet.html
  9. 9. Thanks for your attention! I hope you spent as much attention on my slides as you spend on your Online Payment activities  It’s all about your money!Social Media in Marketing http://img.bulawayo24.com/articles/oddjob.jpg