Is Online Mobile Recharging a Safe Option?

Online Recharging of prepaid mobile accounts over the internet is a safe and convenient method of recharging. The online transactions via Net banking/Credit Card/ Debit Card employ efficient security measures for ensuring the maximum safety of customer account and its transactions. It includes encryption codes and firewalls for effective protection against suspicious attacks. Thus, Mobile recharge via internet is safe & secure process.

Most of the recharging websites are certified by the world leading certification authorities. These sites provide sharp security feature including sophisticated multi layered architecture and 128 bit encryption facility for maintaining confidentiality of data. There are wide range of security methods applied by the banks and financial institutions to offer secure online transactions.

Online Recharge Security Measures

· PIN/TAN system: The PIN/TAN system is used for security where PIN represents a password used for the login purposes and TANs representing one-time passwords for authenticating the transactions. This dual system of security is used because protection via single password authentication is not regarded as secure enough for personal online banking applications.

Most of the online banking with PIN/TAN is carried via a web browser that employs SSL secured connections.

· Two-factor authentication or 2FA: It is widely used for online banking transactions over the internet. In order to strengthen the security of the transactions, customers need to use Double Authentication factor which includes two passwords (login password and transaction password) for accessing the account.

· Accounts get automatically locked: The account gets automatically locked if someone enters wrong Login id and password 3 times. This feature furthers strengthen the security and prevents fraud transactions.

· Signature based online banking: All the online transactions are signed and encrypted digitally.

· Encryption keys: The Keys for the signature generation and encryption are stored on smartcards or any other memory medium as per the concrete implementation.

· The entire details of transactions that are communicated via customer – payment gateway is carried out through HTTPS protocol.

· The signed request is often used for validating the request of the payment page result. The IP of the requesting server is verified for validating the request of the payment page result.

· 3 D secure protocol adds additional layer of security for online payments. It is used for Virtual Payer Authentication (VPA) and branded as MasterCard Secure Code, verified by VISA, and J/Secure by JCB. With 3-D Secure, parties involved in the transactions are able to confirm the identity of each other.

Secure ways of distributing the TAN

· Sending a list of TANs to the online banking user by postal letter.

· TANs are also sent to online banking user on his GSM mobile phone via SMS. In this case, TAN remains valid for short period of time and is applicable to current bank transaction. The SMS text contains the transaction amount and details.

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