Four security questions to ask your payment provider

Are you looking for a new payment service provider or your online payment gateway India? Security should be prioritised. To help you make the best decision for your business, ask your payment provider these four critical security questions. The way a provider responds to your questions will reveal their approach to payment security and how they will protect sensitive cardholder data in order to reduce your risk.

1. How do you secure data?

How a payment provider secures sensitive card and personal data can help you determine whether it is safely and securely handling and storing your customers' payment details.

At the very least, your payment provider must be PCI compliant. The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard that specifies how cardholder data from credit card transactions should be handled and stored. PCI-certified auditors, also known as Qualified Security Assessors or QSAs, conduct compliance audits on businesses. There are various levels of PCI certification, so inquire about any audits and certification levels your payment provider possesses. Most payment providers are Level 1 in the context of PCI DSS, which is the bare minimum for data security compliance.

2. How do you go above and beyond compliance?

Yes, it's critical for a payment provider to meet compliance standards, but this payment security question takes it a step further. Inquiring about how a payment provider approaches compliance from the ground up and on a continuous basis will help you ensure that their vision aligns with yours.

EMV, GDPR, and PCI are all standard operating procedures. So, how does your payment service provider go above and beyond industry standards and regulations to proactively protect data? How do they deal with any potential vulnerability that may arise?

The best approaches will demonstrate that a payment provider understands where risks exist, employs appropriate security to mitigate those risks, and manages compliance as a natural by-product of that security investment.

3. How do you authenticate data?

This payment provider or the best payment gateway security question will probe how they handle security once data leaves your platform, cloud, or system. On their end, your partner must authenticate data, which verifies that card data and personally identifiable information are correct. Learning how they do this will give you confidence that your customer data will be secure throughout the process.

While you may not be able to see everything behind the scenes for security reasons, understanding your payment provider's approach to authentication security is beneficial. Look for industry-standard API security protocols, such as REST APIs that use Open Authentication (OAuth).

4. How does your technology facilitate a seamless customer experience while applying maximum security?

It is critical for your company to be able to provide minimal friction while also providing maximum security. This is especially true now that consumers interact and transact using multiple devices. You can provide a frictionless and secure payment experience for your customers, but security measures are difficult to retrofit. Consider security as a component of the onboarding process for new technologies and solutions.