What technology is used to enhance the safety of online financial transactions?
To enhance the safety of online financial transactions, encryption technologies such as SSL/TLS (Secure Sockets Layer/Transport Layer Security) are commonly employed. These protocols secure data transmitted between users and servers, preventing unauthorized access. Additionally, tokenization is used to replace sensitive data with non-sensitive equivalents, reducing the information's vulnerability during transactions. Multi-factor authentication (MFA) adds an extra layer of security by requiring users to provide multiple forms of identification. Together, these technologies work to ensure the confidentiality, integrity, and authenticity of financial transactions conducted online.