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In the ancient time, the purchase of goods and services was by barter. As time pass by,  man began to use shells gotten from sea shores as item for payment for goods and services.

Early Lydian coin

The Lydian invented coins made from bronze, silver and gold as their item for payment. Soon their idea was adopted by the Greek and soon spread to other part of the world. But for it’s heaviness and tedious process of production, the Chinese invented the use of paper notes for payment for goods and services, their idea was soon widely adopted world-wide through the help of Marco polo.

Early Chinese paper note

In order to make more durable notes, polymer notes were introduced in the 1980s. Now we are in the 21st century, the digital age. In a bid to protect banknotes owners from burglars attack  together with advance in technology, electronic method of payment for goods and services was invented. Thus giving rise to the adoption of cash-less policy by the people of this age.

Today customers can go to markets with only their ATM without carrying any monetary note.
People can even order for products or services via the internet by simply supplying their ATM number, card CVV and Card Pin to columns in the page where payment will be made, after which one-time pin will be sent to the phone number of the account owner. Once the pin is inserted into the column.

The customer will be debited.

But online fraud is a major challenges for people that operates based on cash less policy.
Below are the tips on how you can avoid fraud when paying online:

  • Use browsers such as chrome and firefox while making online payment.
  • Make sure there is a padlock symbol in the address field. The web address should begin with ‘https://’. The ‘S’ stands for Secure
  • .
  • Ensure that you have updated antivirus/ antispyware software and firewall running before you online. If you don’t use secure connections, it will be easy for outsiders to hack into your system to steal your information.
  • Don’t use public Wi-Fi (e.g in hotels or public places) to conduct financial transactions.
  • Always log out of sites into which you have logged in or registered details. By simply closing your browser is not enough to ensure privacy.
  • Keep receipts of online payments, just as you keep receipts of non-online payments.
  • Check your bank statements carefully after an online payment to ensure that the correct amount has been debited, and that no fraud has taken place.
  • Use other layers of protection of online payments, such as security questions, one time password, and telephone identification number (TIN).

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