Providing Security for Online Payment Processing Using Credit Cards

The convenience that online shopping offers has facilitated the growth of the sector to incredible heights. Now, a high percentage of consumers go online when they need products and even services. For this reason, online payment processing has become a necessity for merchants. E-commerce businesses have to offer ways for customers to pay right away without using cheques or cash. Merchant credit card services have made this possible for consumers to transact using different credit cards.

For any merchant using these payment systems, security is one factor that will determine how effective an online system is. In an age where online theft and fraud are rampant, merchants must ensure that customers have adequate protection, but how can they accomplish this?

The PCI DSS (Payment Card Industry Data Security Standard) is one of the regulations that online merchants should meet when offering credit card services. These standards are accepted globally and are designed to provide more security to consumers and prevent cases of information misuse.

Safeguarding the System

One objective of the PCI DSS is that an online merchant should guarantee security by using firewalls in their systems. Firewalls reduce the risk of hackers penetrating the system, hence, enhancing the protection of personal data. The online platform has many vulnerabilities that are easy to exploit for people with the right skills and tools. Merchants can reduce common threats such as data breaches and viruses by proofing their systems. Updating patches for your card payment processing software is one way to achieve this. Installing antivirus and anti-malware solutions will also keep prying eyes and harmful bugs away.

Protection of Customer Data

Another measure that online merchants can take is to ensure that the personal information that credit cards hold stays as secure as possible. Numerous details are contained in these online transactions such as physical addresses and phone numbers of cardholders. The use of end-to-end encryption is one way that e-commerce businesses ensure that this information remains safe.

Security Policies

Retailers and other businesses must ensure that a strict security policy is in place and that all the participating parties adhere to it. Doing this guarantees that the merchant is responsible for secure online payment processing.

Regular Monitoring of System

Another way online vendors can improve security is to keep track of their platforms to avoid creating vulnerabilities. All certificates in use should have valid signatures at all times; antivirus programs should always be up-to-date, and regular scans carried out to weed out bugs in the system.

Sources:

Accepting Credit Cards? PCI Compliance a Concern For Small Businesses, Business News Daily

Why is online security so important? Big Commerce