Misuse of payment data affects one in four cases of online shopping fraud!
Online shopping is practical and saves time - but which payment system is so secure that the joy is not spoiled afterwards? In each individual case, weigh up convenience and security before deciding on a payment method. To help you decide on a payment method, we will introduce you to the different methods and processes. The BSI has also published the brochure “Paying securely in e-commerce” with lots of useful information.
The most common payment methods for online shopping
Especially when it comes to safety aspects, the advantages and disadvantages of the individual procedures are not always easy for consumers to understand. In the following picture gallery we present the pros and cons of the most common payment methods at a glance. The different payment methods and special security aspects are listed in more detail later in this text. Consumers should individually consider which of the procedures suits them and meets their respective security requirements.
payment with credit card
Paying by credit card is one of the most common forms of online shopping. This is mainly due to the uncomplicated processing: the buyer usually only has to provide the credit card company, the credit card number and the security number. The seller is then guaranteed receipt of payment so that the goods can be shipped immediately. In addition, if the goods are defective or not shipped, the buyer has the option of requesting a chargeback from the credit card company.
Current technologies such as 3D-Secure are trying to prevent fraud. 3D-Secure is an authentication process developed by international credit card companies that enables e-commerce customers to authenticate themselves as the legitimate holder of a card and to release a payment associated with the card. The bank determines exactly how the card-issuing bank and customer interact. Possible authentications include the query of static passwords and one-time passwords, such as SMS TANs, or biometric factors.
Important: Even when paying by credit card, you should definitely make sure that the credit card data is only transmitted in encrypted form. You can recognize this when you “enter” an online shop because you go to an https page. Sophisticated shopping systems only display part of the credit card number in plain text before the order is completed.
Phishing and other dangers when using credit cards
The biggest problem when using credit cards: Fraudsters on the Internet are after exactly this data. To prevent your data from falling into the wrong hands, it is important that you know the tricks used by internet fraudsters. One of the most popular methods: The criminals forge emails that look very similar to those from well-known standard online shops. With well-formulated, often credible reasons, they then try to get the email recipient to provide their own credit card details. More on the subject of phishing .
Tip: Individual credit card companies also offer you the option of receiving so-called prepaid credit cards. The advantage: With these you can only purchase goods and services up to the amount that you have previously deposited into your credit card account. For more information, contact your bank or credit card company.
payment via immidate transfer
Sofortüberweisung is a payment service that works with the usual online banking data and is then paid immediately by bank transfer. To use this service, no additional registration with Sofortüberweisung is necessary. But phishing attacks can also occur if fake emails ask you to enter payment details on a website that is also fake. It is best to delete such emails without opening them.
Payment in advance
It is not advisable to pay in advance by bank transfer if you do not know the shop. A reputable online retailer usually offers at least one alternative payment method. If you still want to pay in advance, you should find out more about the online retailer in question in advance and check its trustworthiness. Any good website will provide background information about the company and the terms and conditions. Also check whether the address and telephone number are included in addition to the electronic contact details. You can also use a search engine to find out whether there are negative reports about this shop in forums or websites.
payment by surname
If you pay cash on delivery, you pay the invoice amount directly and in cash to the postal carrier when the goods are delivered. Advantage: You only have to pay for the goods once they have actually arrived at your door. Disadvantage: You pay for the package without first checking the goods. If you discover an error afterwards, refunds become relatively complicated. In addition, the buyer must definitely be reachable at the recipient's address upon delivery. Paying by cash on delivery can be a little more expensive, as a delivery fee is usually charged in addition to the purchase price.
Purchase on account
Whenever possible, purchase on account when shopping online . The big advantage is that you first receive the goods, then decide whether the order meets your expectations and then initiate payment.
Payment by direct debit or direct debit
Paying by direct debit or direct debit is relatively convenient for you as a buyer: the invoice amount is deducted directly from your bank account and you don't have to worry about paying the bills. Your bank account is usually only debited when the goods are shipped. However, this also means that you pay for the goods before you hold a package in your hands. You should only do this if you trust the dealer.
To use this payment option, however, you must provide the merchant with all of your bank details, such as the IBAN.
Tip: Never provide a TAN or PIN number when transmitting bank details. Reputable online retailers will never ask you for this information.
Important: Make sure that all data is always encrypted when transmitted to the online retailer.
Caution: Online fraudsters are also looking for account and bank details on the Internet. Therefore, you should be wary of any emails that ask you to provide your account details. A trustworthy online store operator will never email you to ask you to re-enter your bank details on a website linked in the email or ask for your bank details over the phone. If you receive an email or phone call, do not provide any information. If you have any doubts about the authenticity of an email, we recommend that you contact the company that the email says is addressed to you directly. More on the topic in the area of phishing .
If an online retailer makes an unauthorized debit, you can appeal to your bank and have your money easily refunded.
Payment functions of operating systems – Google Pay, Alipay, Apple Pay and Co.
The payment functions of operating systems are actually aimed at making contactless payments in retail via Near Field Communication ( NFC ) at the checkout. However, customers can also pay online using the bank accounts stored in the app. In both cases, the transaction must be confirmed by the consumer biometrically (e.g. through a fingerprint or facial scan) or via the smartphone passcode. During these transactions, retailers do not receive any customer data, only the information that the payment has been made.
Attention: This payment method is as secure as your smartphone. So if you pay with your cell phone, you should always have the latest operating system installed. More mobile protection tips .
Payment via internet payment provider
If entering your account or credit card details directly on an online retailer's website is too risky for you, you can use one of the numerous payment services instead. This type of bill payment offers you the following advantages : Thanks to an account with one of the payment system providers, you do not have to enter sensitive data such as your bank details or credit card number for every single transaction.
Depending on the provider, you will first have to open an account. The usual personal data as well as your bank details or credit card details are requested and stored. When you sign up, you will also need to set a username and password. Some providers also offer the option of using a prepaid credit card as a payment system. If an online shop supports a payment system provider, you will be taken directly to their website when you select the payment system. There you log in and confirm the transaction. The payment system provider then passes the payment on to the shop and then deducts the amount from your bank account or credit card.
Tip: The user accounts with the payment system providers presented cannot guarantee you absolute security. Pay particular attention to your account login details. Even if you don't use it frequently, check your account regularly. If you are unfamiliar with any transactions, please contact the provider immediately.
Online shopping – what to do in an emergency? The SOS card helps!
We also show how quickly you can fall into a fraud trap when shopping online in our “How does the Internet work?” section . There we will show you a fictitious example of online shopping and give you tips on what those affected can do.
The SOS card on online shopping that can be downloaded and printed out helps those affected and shows further protective measures against crime when shopping online.
Source: BSI
Related to the topic: Warning against making bad purchases on the Internet
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