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Beyond the Transaction: Every Transaction Has a Story

Smart Cities, Smarter Security

2Evolution in technology is enabling more devices to connect more often around the world, at a pace that’s showing no sign of slowing down.

Globally, more people currently have access to a mobile phone than safe water or reliable energy – and their prevalence is expected to keep growing. The Philippines sends more texts than any other country and Jakarta is the world’s top city for tweets.

With more than 250 million smartphone users in the Southeast Asia region, the rate of digital adoption is unprecedented. In fact, International Data Corporation (IDC) believes that this push to connect more and more devices will be spearheaded by Asia Pacific.

Securing the infrastructure in emerging markets

To gain trust amongst consumers and support this rapid pace of innovation within the Asia Pacific region, emerging markets must create the right balance of security, protection and openness.

This is evident and already underway in Southeast Asia. Countries are taking active steps in pursuing its ambition to become a cashless society; some are improving cybersecurity for electronic transactions on mobile phones, whilst others are launching national cyber risk management projects to tackle demand and supply challenges that confront the cyber insurance marketplace.

Onus on the smart consumer

Our own knowledge and practice of secure technology is another part of the safety equation. What can we, as consumers, do to stay ahead of the curve and how can we utilise these smart technologies headed our way? Here are 5 top tips we have amassed for everyday situations:

1. To protect your confidential information from prying eyes, refrain from using public unsecured Wi-Fi to perform financial transactions

2. Updating your apps on the go? Use a private and secure internet connection when keeping your software up-to-date, to prevent malware from being installed in your devices

3. Only visit sites that start with “https”. The “s” stands for ‘secure’ and the encryption keeps your information and identity confidential

4. Enable a two-factor authentication on your social media and eemail services, so that you have an additional layer of protection for your passwords

5. Forget the networks you were signed into after logging them off. This ensures that your PC and mobiles don’t automatically connect to the network without your knowledge if you are within range. Instead, turn on the “Ask to Join Networks” prompt in your devices

The security solutions that already exist in the physical world are ready to be implemented in the digital world. The onus is on us to ensure that we are able to benefit from these technologies in a safe and secure manner. Take Control. Live Freely. Educate yourself with more payments-related safety and security tips here.