In this world where everything has gone online, cyber criminals are having the time of their lives in terms of e-commerce and m-commerce transactions. To stop them from playing with the security of finances and customers data, merchants have to have the best payment security protocols. One of the best things they can do is selecting the reliable and safe payment gateways.
If we talk about credit card payments, they count for the most usual forms of payments. Owing to the terrific increase in the number of online payments, the number of scammers has also grown exponentially. These criminals have expert hands on utilizing technologies in their favor, which clearly signifies their interest in insecure payment processing.
Is there any way to ensure payment processing solutions? Thankfully there is! Following a few careful points can play a great role in securing the data as well as keeping it away from being stolen. Let’s take a look at some of those ways:
1. PCI COMPLIANCE
When processing payments on a website, PCI can’t be neglected. This is because PCI DSS guides the merchants about the essentials they need to safeguard the confidential data belonging to the payment industry. However, merchants who have payment provider with PCI level 1, PCI complaint isn’t a necessity for them. Their payment gateway will itself comply with industry level security.
Be it any transaction, it has to be secured with SSL protocol. Reason being, it encrypts the details, which protects the card information and essential data. Apart from securing the payment security, this convinces the customers for more & more purchase.
3. VERIFICATION OF ADDRESS
Address verification is important like anything and is all about having the billing address of customers. This address is connected with their credit card. The transaction will take place only if the address is same on both the card and bank documents.
Controlling the location and saving payment data isn’t easy for majority of the companies and about 42% companies say that storing data is always risky.
4. 3D SECURE
As clear with the name, 3D Secure adds additional safety to the transactions and has a number of benefits. For the credit card of the merchant, it protects the password. Every single transaction is verified using a password, which in its own way adds more to the security level. Not only this plays a major role in bringing down the fraud activities but also increases the earnings.
You too can secure your payment processing so as to offer nothing but the best payment security to the customers. All you need to do is contact the right payment processing solution providing company, discuss your concern and they will provide you the best support for secure payment processor.
This article originally appeared here: https://www.localbiznetwork.com/articles/4-ways-to-secure-payment-processing