Security tips for new payment technology It is worth remembering, of course, that we all had the same fears about debit cards, cash machines and online banking when they were introduced, and these innovations have now become commonplace. None the less, it is important to be sure about the technology that you are using before you jump in with both feet and your smartphone. The following pointers should help. Know your limits Contactless cards allow you to pay instantly by waving your card over a reader in a shop instead of entering a Pin. New technology such as the Barclays PayTag, which is a sticker that you can attach to your phone, and Orange's Quick Tap app, which lets you make a purchase using your phone, allow you to cut out the card altogether. If you lose your phone, you will need to ensure that you notify your bank straight away, as well as your mobile phone provider. You should have the same protection from your bank if you are using your smartphone to pay as you would if you were using your credit card. This means that you should be refunded if someone has used your details fraudulently - but make sure you check the small print before using any service. Be app savvy Many banks and building societies have apps you can download to your smartphone to manage your money and make payments. Online criminals are now targeting the smartphone and app market more than ever before. The Get Safe Online campaign said the number of attacks by "malware" - malicious software - on smartphones increased by 800pc in the final four months of 2011. Apps are often developed by third-party companies rather than the banks themselves, and the organisation that developed them may also have your records. Before you install an app, check that it doesn't store personal data and that if you bank over a Wi-Fi network your details are encrypted. Double check that an app is genuine before you install it, as it may be a rogue product trying to get at your data. Put security measures in place Some payment systems allow you to put extra security in place. For example, Orange's Quick Tap allows you to put in a four-digit Pin before tapping your phone to make a payment as an additional safeguard. You should also ensure that your phone itself is protected by a Pin or password. Additional services such as BlackBerry Protect or Find My iPhone could help you to locate a lost phone and wipe all of its data if necessary. You can also download additional security software onto your phone as an app. Check your web presence Check the information held about you on the web. Facebook, for example, may have your date of birth, commonly used as a Pin, available for all to see. Lock down your privacy settings on Facebook and check that your Twitter presence does not give too much away. Wipe your old phone If you are selling or giving away an old phone - or even throwing it in the bin - make sure there is nothing identifiable left on it. Fraudsters can use this information to impersonate you very easily.