QR codes

[HHTel]

Ok. I'll make one last comment about QR codes then I'll shut up.
3 months ago, I was 100% with the same mindset as BB. It was then I noticed people around me, both Thai and Foreigners paying for things however small using their phone. My daughter from the UK noticed it among her friends. She was impressed to the degree "They're far ahead of the UK. We have nothing to match!"

After my daughter, not my UK visitor but one who lives here, bailed me out a couple of times to save me seeking out an ATM, and then pressuring me to 'get up to date', I decided to give it a go. I'm glad she did. I've been very impressed so far and wish that I'd done it earlier. I can pay bills instantly, no matter how small, top up my phone, pay another bank account remotely as long as I know the name, acct no. and bank (just like you'd do physically in the bank), check my balance no matter where I am, use an ATM without a card, pay COD deliveries, taxis, Grab, Foodpanda etc etc, and more.

On top of that, I can look instantly at the history of what I've spent and where. Even down to a payment of 100+ baht, it'll show me the name, account no. and bank that it was paid to. A complete trail. You can't say that about cash transactions except for a receipt from the vendor.

I took a lot of convincing but anyone who does 'dip their toe in the water' will be sold.

Don't have to check anymore to see if I've enough in my pocket for a couple of beers!

Security issue seems to be well covered. As said nothing is 100% foolproof. Most of the hacks will redirect you to a 'scam' site which looks genuine and then attempt to get info from you.
However the banking app is a different kettle of fish. It doesn't direct you to a URL because it automatically links you with your own bank. A hacker would have to gain access to your banking system and somehow hack into the app on your phone to direct you to a 'lookalike' bank app. What that would achieve I don't know. From what I've read, it appears pretty impossible, but I'm sure there'll be theories about that.
Even the FBI advises never to use a QR code displayed on any site. They advise only to use a downloaded app for access which is deemed 'safe'.
Well the case we're talking of is just that. An app on your phone that talks only to your bank.

Ok. I'll shut up now.

[pharvey]

NO software is yet written that is not completly secure from online hackers. Just about every week there are reports of "secure" systems being breached around the world.

I think that's the point - ALL is going Online whether we like it or not and "hackers" are further ahead.... That's my worry!

[HHTel]

I can't disagree with that. But that be known, the developers are making it more difficult. As I've said above, this banking transaction is an app. Not sure how they could attack that. They would have to hack your phone. That's been done before and is usually caught relatively quickly and 'fixes' applied. It's always in the form of 'malware' usually from an installed app. A good virus checker should quickly find that or pick it up during installation.

Also, there is limited info on your end of the app. Most of the data is held at the bank end and the interchange of data is encrypted. So as well as hacking your phone, your banks system would also need to be hacked.

In general, it's considered 100% safe although I, like others, dispute anything being 100% safe.

[buksida]

Nothing is 100% safe, especially software no matter who develops it.

QR codes simply offer a bit more convenience for those that want it and are happy doing everything with their phones. Cash is probably the safest and most trustless way to transact, it is also untraceable which is why governments and banks want everything to go digital and online.