Are you currently compliant with credit card and online payment security?
According to a 2017 survey by Verizon nearly half (44.6%) of companies failed to protect payment card data on an ongoing basis.
Whilst this stat appears to be high, there is no need to go into panic mode just yet. We’ve put together 4 key ingredients to help your business stay secure and remain compliant.
The 4 ingredients include:
- PCI Compliance
The first ingredient is PCI compliance. You may have already heard this term floating around. PCI Compliance is important if you process payments via your website or are looking into implementing online payments in the future. Payment Card Industry Data Security Standards (PCI DSS) tell merchants how sensitive data used in payments should be secured. It requires data encryption to provide payments without using real card data that’s visible while processing. Note that PCI guidelines also consider tokenization in the future version.
Our feeSmart/feeLink Payment Pages are PCI compliant. You can be assured that no customer credit card details are stored on our servers.
- SSL protocol
The first thing you need to do for your payment security is ensuring that your website is secure. Are you using SSL protocol to encrypt information on your site? We can create a secure link to your smartAR online payment page.
SSL certificates show your website is protected and will grow your online reputation as well. All information, such as credit card details and other sensitive data is protected. It also improves brand awareness and builds credibility with customers. The SSL is symbolized by a padlock icon in the URL bar and the web address begins with https. The SSL comes with many benefits for your online business, so make sure you’re using it to protect your customers well.
Our smartAR Payment Pages are SSL compliant.
Tokenization is the technology that makes it easier to improve payment security and provide a payment process without vulnerabilities. In short, a token is a random string of characters that replaces sensitive information, such as a 16-digit credit card number. The payment process involves sensitive data, so merchants need to understand where the vulnerabilities exist. With tokenization, the chances of a data breach are reduced. Even if a token number is stolen, it would be meaningless to the fraudsters.
- Address Verification Service
You can also use an address verification service, which requires customers to provide the billing address associated with their credit card.
This system checks whether the billing address is correct by verifying it against the cardholder’s data from the issuing bank. Often, a fraudster attempting to use a stolen card or card number doesn’t have access to the billing address. When he or she attempts to make a purchase and inputs an AVS-enabled system they will immediately alert you that the wrong billing address has been entered.
In summary, we’d suggest that you review your current level of security for your credit card, direct debit and online payment options. There are a number of providers who will meet the above criteria.
To register for a secure smartAR online payment page, or learn more about our feeSmart/feeLink pay monthly options, please click here!