You need to protect the financial information of your customers. Payments should be simple and fast.
Instead, they should be seamless, intuitive, and efficient. Here are some tips for securing your system.
There are three essential components for a secure system.
- Conformity with PCI DSS
Let’s explore each of these.
Fraudsters target debit and credit cards every year.
You may be limited or prevented from making payments by your credit card provider. Companies that have a history of fraud lose the trust of their customers.
Criminals try to find weak spots in your business. These are easy avenues of entry into your network, allowing them to steal data such as passwords, credit card numbers, and other card details.
A payment processor should have sophisticated cybersecurity measures.
Conformity with PCI DSS
The government and regulatory bodies have developed privacy and security requirements to protect businesses and consumers alike. Among them is the Payment Card Industry Data Security Standard (PCI DSS).
The Best Ways To Make Online Payments Secure
Consumers nowadays are more aware of cyber risks and concerned about the privacy of their personal information. This implies that safe online checkouts and website security are crucial to their buying experience.
Listed below are some ways to demonstrate to your consumers that you adhere to industry best practices in terms of internet security.
Comply with PCI DSS
The SSL protocol is a good start, but to safeguard critical data and avoid fines, you’ll need to go a step further. Payment Card Industry Data Security Standards (PCI DSS) must be followed by your company.
These rules apply to every entity that processes credit card payments, regardless of size – from major banks to small businesses.
Utilize network tokens
Tokenization is a payment option that is activated automatically. Token payments are intended to increase repeat transactions, reduce cart abandonment, and improve the consumer experience without jeopardizing security.
Use 3D Secure 2.0 verification
Due to the rise in online shopping, the number of card-not-present (CNP) frauds has increased. Merchants receive a higher level of assurance on the authenticity of transactions with 3D Secure 2.0.
Secure your online payments with a payment gateway
Cybercriminals may be employing increasingly complex tactics, but anti-fraud software is also improving. To find the best systems and protections for your company, you should check out the various tools available.