Secure Payment Services: Minimize Online Payment Risk and Fraud

by Pay Tabs PayTabs No doubt, technology has made our lives simpler in many ways. More and more people are turning to e-commerce platform to purchase products and services online. Online payment is a fast and efficient way of making payments, enabling users to perform transactions at any point in time. But, one has to be wary of the potential risks of online payments. Whether you are an individual or running an online business, it is crucial to understand the risks involved.

In recent times, there are many businesses that use payment services to ensure that whenever an online transaction is made, it is safe and secure. Secure payment services play a key role in improving the confidence and trust of the customer and have become an absolute necessity for businesses, as it helps business to grow.

Are all credit card transactions processed securely? It is not easy to eliminate fraud, but there ways by which you can secure the data and prevent it from being stolen. There are a couple of compliance requirements that one should comply with, to ensure that you are your customers are fully protected against any kind of online payment risk and fraud.

SSL
All online transactions should be secured with SSL. Make sure the website is secured with SSL certificate. It helps to encrypt the information and protects all the card details and other sensitive data of the customers.

PCI
PCI compliance is equally important as it gives a better type of security when you are processing payments on the website. You should make sure your payment system meets all of the requirements which will make you "PCI compliant"

Tokenization
Customer’s credit and debit card information should never be stored on the server. Tokenization replaces sensitive data with a string of characters, which helps reduce the risk associated with data breach. To reduce the risk of fraud, it is best to choose a payment gateway that offers tokenization.

Secured Platform
Whenever you are building your e-commerce platform, ensure that the platform is safe and secure to use. Some platforms have security measures built-in for you while some have less security when it comes to sales. Choose the one that gives what you and your business needs.  Remember, a customer will come back to the website which is secure.

3D Secure
3D secure helps prevent fraud in credit and debit card transactions. Whenever a customer buys a product online, he/she is required to create a secure password for the credit card he/she uses to pay. The transaction will be complete only when the password is confirmed.

Security Tools
Secure payment services can definitely play a big role in reducing the overall level of vulnerability in any kind of business that you operate. With a secure payment service, you can focus on your business without worrying about the security of your customers’ information. By using all these above safety measures, you can ensure that customer data will stay in the SAFE hands of those who need it, which is your customer!

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Created on Apr 30th 2018 03:13. Viewed 940 times.

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