Nowadays, online shopping has become a new trend as people find it way more interesting than traditional shopping. Buying anything from their homes brings a unique comfort that people always love. Imagine that anything can be ordered and received with no exceptions. From general groceries to something related explicitly to a hobby, all can be found in the marketplaces. The payments, however, are usually done online. Thanks to its simplicity, it has become a more straightforward method for transactions.
How can you 100% that you are protected when making all these online payments despite the easiness and advantages? Are they completely secure?
Short answer, yes. Online payments are arguably safe and secure. But, only if you have successfully identified that you may have a secure online payment. Knowing the basic knowledge about varieties and ways for accepting online payments is vital in this fast-paced world. So, to help you understand better about it here’s the simplest steps to a safer online payment:
1. Make Sure The App Is Compliant with PCI DSS
The first mandatory step you need to ensure is whether an online payment compliant with PCI DSS or not. Not every payment system has it, and that’s why you need to be more careful than ever. Payment Card Industry Data Security Standard is the internationally accepted standard that guarantees card payment security and safety.
No matter the size of your business, compliance is the most vital part if you wish to meet the fundamental requirements. The standard also consists of methods for merchants to make their stores safer. They will first analyze the business, go into the transactions systems, and find the vulnerabilities along with the fixes. After the process has been done, a report is made and shared with all corresponding banks or any card brands associated with that particular business.
Ensuring the payment respects PCI DSS means that it’s compliant with card payment security.
2. Data Encryption
When trying an online payment gateway, make sure that data encryption is one of its safety features. Data encryption can keep the customer’s data private and safe. Since identity theft has become a concerning issue, a website with data encryption enabled will ensure that the users’ sensitive data stays protected and kept private to only those authorized. It’ll make any personal data hidden and protect the likelihood of hacking to a greater extent.
3. Keep Your Network Updated
Hackers have several tricks on their sleeves. If one trick isn’t working, they may easily use another. While your data can be safe today, we won’t know what will happen tomorrow. So, make sure to have security updates turned on on every device you have. It’s an important step to keep your information private and less breachable. Keep yourself one step further by installing any new updates available. So, even when the latest threats are around, you can rest assured, knowing that all the safeguards are correctly installed. These network updates may reduce not only the risk of a security breach but also prevent viruses attacks that may terribly affect your business.
4. Secure Login Protocols
Now that all things have been checked, the next thing to analyze is the login protocol. A system must be as safe and secure as possible when the login process happens. It’ll make sure that users will gain their authority correctly without getting any interruptions or security issues. A typical example of a safe login protocol is inputting an email or username when users forget about their passwords. Although this alternative login method does look simple, it’s highly beneficial.
5. Ensure That Address Verification System (AVS) Is Enabled
What AVS does is verify the customers’ billing address with the cardholder data that can be obtained from the corresponding banks. The system helps to detect fraud since hackers usually don’t know about the billing address of a particular customer. Generally, the system is combined with CVV2 verification, which can be seen as the three-digit codes on the back of the card. That’s why most payment would ask about this information at check out to ensure that the actual cardholder is the one doing the transaction.
6. Find The Right Payment Processor
If you’re the one who owns the business, it’s better if you start finding suitable, reputable payment processors. They can grant security while being flexible in accepting both credit and debit cards. So after checking about the security benefits, ensure that a payment processor agrees with these types of payments and consider the number of fees and transaction supports.
7. Make Sure The Website Has SSL Certificates
SSL certificates are essential documents for most businesses, no matter what their size is. By having these certificates, you can indicate whether a particular website is respecting the customer’s information or not.