Posts Tagged ‘payment authorization’

How Secure are Different Online Banking Payment Authorization Methods?

Friday, May 9th, 2014

If you use your mobile phone to access your online bank accounts, then you should probably take a quick look at this article to see how your payment authorization protocol stacks up, security-wise.

I have worked in tech support for a big German bank before I started my work as a full time blogger. Back then, the bank only supported two payment authorization methods: transaction numbers on paper or HBCI. Today with the rise of smartphones and applications, you get additional options in this regard. I’d like to provide you with an overview of popular Internet Banking payment authorization methods. Instead of just describing each method, I will also look at set up and security, as they are the two most important aspects when it comes to payment authorization.