Securing customer payment information is of the utmost importance to your business. Payments should still be easy and fast, even when using secure online shopping.
It should instead be intuitive, frictionless, and efficient. Here’s what you need to consider, without compromising security.
Your online security approach should address three essential parts of secure payments.
Fraud
Cybersecurity
Compliance with PCI DSS
Here’s a breakdown of each of these.
Fraud
Every year, fraudsters attack debit and credit cards.
Credit card companies may limit or eliminate your capacity to accept payments. Customers often lose faith in organizations implicated in fraudulent activities.
Cybersecurity
Your business is vulnerable to fraudsters looking for weaknesses. There are easy ways for hackers to gain access to your network, allowing them to steal passwords, credit card information, and other data.
Providers of payment processing services should be equipped with advanced security systems.
Compliance with PCI DSS
To safeguard consumers and companies, regulatory agencies and governments have set privacy and data security requirements. The Payment Card Industry Data Security Standards (PCI DSS) are one such example.
How to make online payments secure and safe
The average consumer today is more cautious of cyber threats and concerned about their privacy. Thus, website security and a secure checkout process are key to their shopping experience.
To reassure your customers that you’re following the best cybersecurity procedures, here are a few examples.
Meet PCI DSS Compliance
Although the SSL protocol is a good start, your company must also adhere to Payment Card Industry Data Security Standards (PCI DSS) to secure sensitive data and avoid penalties.
These rules apply to all businesses, regardless of their size — from major banks to small businesses — that deal with credit card transactions.
Make Use Of Network Tokens
A payment token is generated automatically as part of the payment process. Payment tokens are designed to increase sales, lower cart abandonment rates, and offer a more secure shopping experience.
Authenticate with 3D Secure 2.0
With the increase in online shopping, fraud involving cards not present (CNP) has increased. Merchants can be more confident that a transaction is legitimate using the 3D Secure 2.0 certification.
Use a payment gateway to safeguard online transactions
The tactics of cybercriminals are evolving, but fraud-prevention tools are as well. Discovering which systems and safeguards work best for your company can be accomplished by exploring
More information www.unipaygateway.com
