Digicel MyCash and Vodafone M-PAiSA are mobile wallets that let us have electronic cash available at our fingertips. Removing the need for a bank account, M-PAiSA and MyCash provide a way to make fast, reliable, safe, and convenient daily financial transactions—all at the convenience of our mobile phones.
These two are fast becoming the preferred payment methods for many businesses among Fijians. The cashless payment options through mobile phones make work easy, avoiding time wastage, waiting in queues for services, traffic jams, or parking problems, hassles, and frustrations.
However, if there are “technical glitches,” a well-known term in Fijian societies, affecting both platforms, M-PAiSA and MyCash, it is therefore very crucial for both service providers to address them immediately as well as fortify the security features of both platforms to avoid future issues.
Vodafone Fiji reminds users never to share the M-PAiSA PIN and personal information in light of issues of back to school shopping.
I, therefore, call upon both service providers for better security of the accounts, and thus:
- Resolve current challenges,
- Implement robust measures that safeguard users’ financial transactions and personal information,
- Collaborate with cybersecurity experts,
- Conduct comprehensive security audits of both platforms,
- Assess vulnerabilities, potential loopholes, and areas for improvement in the systems,
- Enhancing user education and awareness is probably done via SMS,
- To educate both wallet users about the importance of securing the PIN,
- Launch targeted campaigns to educate the users about the risks associated with sharing PIN,
- Regular reminders via in-app notifications, thus helping the users to stay vigilant against potential scams,
- Provide an extra layer of security to transactions by introducing multi-factor authentication (MFA),
- That one-time password (OTP) sent to the user’s registered mobile number can be heavily secured to reduce the risks of unauthorised access and financial fraud,
- Continuously monitor and enhance the security of the platforms and explore partnerships with reputable cybersecurity firms,
- Address any emerging threats and vulnerabilities, regularly update, and patches should be deployed,
- Provide transparent communication to the users,
- should keep users informed about security enhancements, providing clear guidelines on how to protect their accounts,
- An open channel for user feedback and reporting security concerns can facilitate a collaborative approach to maintaining a secure financial environment.,
- Investing in the security infrastructure of M-PAiSA and MyCash will not only rebuild user confidence but also contribute to a more resilient and reliable financial platform for the future.
Digicel MyCash
The Fijian families need commitments to the security of their accounts and money to access financial transactions without compromising the integrity of both systems. Let’s all move forward to encourage others and promote cashless societies in Fiji once we are assured of better security of our user accounts via mobile phones.
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