How Paying by Phone Bill is Safe from Fraud

We are living in an age where technology is advancing at a rapid pace. While many people feel a sense of nostalgia for the times in the past where things appeared to be simpler, these advancements in technology actually serve to make our lives easier, simpler, safer and more convenient. One of the ways in which the world is evolving is through our economic system and in how we choose to make transactions. We now have an entirely new currency emerging in the form of cryptocurrencies such as Bitcoin and Litecoin as well as a good selection of alternative payment methods. While it may feel daunting placing your trust into a new payment method for the first time, you can rest assured that these new methods are far more trustworthy and secure than older payment methods such as using cash or credit cards. Credit card fraud is one of the major reasons why so many alternative payment methods have emerged onto the scene in the first place, and the pay by phone bill method is one of the latest methods to join the scene.

How Does the Pay by Phone Bill Method Work?

The pay by phone bill method is a simple payment method that allows you to pay for goods and services using your mobile phone bill. The amount of your transaction is added to your monthly phone bill and you will be required to pay the amount to your mobile service provider at the end of the month when you receive your bill. If you do not have a mobile contract, you can still make use of this payment method by simply depositing credits onto your mobile account and using this to pay for services and goods. All you need to do is ensure that your mobile account is always topped up with sufficient credits.

Safety and Security

Using your mobile phone bill to pay for goods and services is safer than using cash or credit cards. All of your data is stored and encrypted using secure passwords and you do not need to provide any retailers or businesses with your credit card details. This method uses encryption technology that converts your credit card information into codes which means that your sensitive details remain secure and out of sight. Even if these codes were to be hacked, there is no way to trace it back to your bank account. This is therefore a highly secure method for transacting.

Where Can I Use This Method?

Paying by phone bill is becoming more and more widely accepted. There are now many online and physical retailers who are accepting payments using this method and some of the trusted providers include Neteller, Zimpler, Boku and Trustly. Online casinos are one of the industries where this method is widely accepted and embraced, and a simple online search will quickly reveal a pay by phone casino UK. Other major brands have also released pay by mobile services including Apple Pay, Google Pay, and Samsung Pay.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.