Is Your Merchant Account Transaction Secure?

 Secure Your Merchant Account Transaction

Are you doing business? Do you have a secure merchant account? Are you still confused? Whether your business is secure from online fraudulent and cyber threats? To answer these questions first discuss the importance of a secure merchant account. What its impact on your business if there is a data breach or all the credit card details leaked. In today’s competitive market, every business is running on trust and credibility. What if a trusted E-commerce website leaked your credit card details? Will you ever going to believe that site again? The answer to the question is never. That’s what today’s market is. If you are not a security-complaint, your business will get ruined. Your merchant account may shut down due to non-compliance with security standards. Let’s discuss how we can make payment secure? It’s tough to say that the transaction is 100% secure. A system which is secure today may be vulnerable tomorrow. There may exist a loophole which everyone is unaware of. What we can do is try to dissipate the risk and fraud to its minimal.
To reduce your transactional risk, consider these points.

SSL certificate Setup:

SSL or Secured Socket Layer is a digital certificate. It protects any website that transmits sensitive information like credit/debit card details. SSL helps to secure our website in many ways as described:-
  •  Strongest Encryption to Secure Information.
  • Secure Payments to Experience Safe Shopping.
  • SSL Affirms Your Identity.
  • SSL helps you meet the PCI/DSS Requirements.
  • SSL Improves Customer Trust.
  • Better Search Engine Ranking.
  • SSL provides Authentication and Trust.

PCI Compliance for Electronic Transactions:

PCI compliance is mandatory for companies who are dealing with credit card transactions. It helps to ensure the security of the credit card. It should be noted that a merchant does not need to be PCI compliant. The processor who is providing the payment gateway should be PCI compliant. It is better to choose a processor who is PCI compliant. PCI Standards Council governs the PCI compliance. It is an organization formed in 2006 for auditing the security of credit cards. The standards are also known as payment Card Industry Data Security Standard (PCI DSS).

PCI DSS has six major objectives which are as follows:

  • Build and maintain a secure network.
  • Protect cardholder data.
  • Maintain a vulnerability management program.
  • Implement strong access control measures.
  • Track and test networks.
  • Maintain an information security policy.

Data Encryption:

Data encryption is a crucial aspect to consider. Merchants are not supposed to save sensitive information of customers in their server. If he is doing so, it should be in encrypted form. This can be done with a protection method known as Tokenization. So always choose a processor who provides you with tokenization service. It lowers your fraud ratio.

Do not store Credit card Information:

PCI Compliance Regulation forbade the merchants to save card details in their database. It should be immediately deleted after processing the transaction. The information can save on a PCI-DSS compliant gateway run by a regulated gateway provider. It is stored through a protection method called Tokenization.

Sensitive information on employee’s hand :

Untrusted and frustrated employees are the most significant source of data leakage. You should have a healthy environment in your organization. There should be a data leakage protection method like DLP or Data Loss Prevention. It helps to prevent any information from going out of the organisation. Bring Your Own Device or BYOD policy is not recommended. Accessories like pen-drive, hard-disk or any other storage disk in company’s premises should be prohibited. Securing a transaction requires efforts not only from the Processor side but also from the Merchant’s end. We as Quadrapay helps you find the best Processor or Payment Gateway Services. It will provide secure transact to all your processing with 24×7 support.

Happy And Secure Processing!