Sabric CEO Nischal Mewalall addresses concerns over digital wallets and tap payments in South Africa.
South African Banking Risk Information Centre CEO Nischal Mewalall says banking customers who use digital wallets should focus on securing their accounts and devices rather than avoiding the technology., Mewalall said that while criminals will always find a way to breach systems as technology evolves, tap-to-pay and digital wallet systems aren’t a significant concern for his organisation.
“Our concern always resides around where data lies. That’s because we often think that the problem is the technology, but rather there are other kinds of problems behind it,” he added. He added that many people fall victim to phishing scams, making education about these types of attacks critical to keeping your data safe.
Stander’s video shows how an attacker might impersonate the South African Post Office and what wording they might use to trick you into giving up the one-time PIN needed to link a payment card to Google Wallet.
Headline Nischal Mewalall South African Banking Risk Information Centre (SAB Tap Payments Tap To Pay Security
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