Below is the slide content from the presentation on 20 May 2021
Banking Payment types
BACS – Old UK interbank system BACS Direct Debit Direct Credit
SEPA – (Single Euro Payments Area) is a pan-European network that allows you to send and receive payments in euros (€) between two cross-border bank accounts in the eurozone
Open Banking – UK system to authorise direct access to your financial information possibly in several banks.
Contactless payments – cards with a RFID. No PIN or signature. Also mobile phone
Mobile Wallet – encrypted card(s) information stored in a mobile app. Use with RFID
P2P payment app. e.g BIZUM Send payment to individual in contact list.
Mobile banking – What are the Risks?
Unauthorised use of your login details.
Transactions being intercepted via the Wi-Fi
‘Shoulder surfing’ or via CCTV.
Loss or theft of your mobile device.
Visiting bogus banking websites, or downloading fake banking apps.
Revealing confidential details as a result of phishing.
Using a mobile app
Download the app from the official Google play store
Check the details of the app before downloading
Check the permissions it requests
Using your phone for mobile banking
Do not use Public Wi-Fi connections it’s safer to use your 3G or 4G connection.
Always remember to log out of your online banking session.
Use a good unlock PIN for your mobile. Don’t reveal this to anyone.
Choose your banking passwords and other memorable information with care
Install an antivirus app on your mobile.
Only download apps from an authorised store and check reviews and recommendations.
Keep your operating system and anti-virus software up-to-date.
Beware of phishing emails.
Take care not to leave your device unattended. Download a tracking app
Configure a text message to be sent every time a transaction occurs on your account.