In this article, we will talk about how to secure online payments. Cybercrime is responsible for annual losses of 6 trillion dollars, according to a study of “www.thesslstore.com”
Ensure PCI DSS compliance
The main objective of the PCI DSS is to reduce credit card fraud (in 2022 payment card fraud will cause $ 34.6 billion of worldwide losses.) Therefore, it is very important that compliance be guaranteed.
The six main objectives of PCI DSS help meet these requirements:
- Cardholder data protection
- Secure network and system maintenance
- Strict implementation of access control measures
- Maintenance of the information security policy
- Maintenance of the vulnerability management program
- Regular network monitoring and testing
When choosing a payment service provider, remember that they need to have an official PCI DSS brand (so make sure it is a certified payment processor, as we have on our website)
Encrypt the payment page
According to the industry the level of encryption is one or the other. The security measures for banks and institutions are very high. Websites that sell products and / or services are included in this list, therefore they need a more secure payment protocol. So how to encrypt the payment page in order to comply with security standards?
SSL certificates of organization validation (OV) or extended validation (EV) are high quality certificates. They carry out the large volume of transactions in addition to requiring a thorough commercial verification before the problem. The certificate “EV” has a lock, showing the name of the company in green with the sign “https: //” As soon as customers see this, they will know that the page has a first level encryption.
According to an Experian study, 90% of online users buy in digital stores and 4 out of 5 consumers say that protecting financial and personal data should be a priority for a company.
Secure payment systems and fraud prevention are an essential part of online stores. Do you know what the two main types of fraud are? Keep reading!
- Identity fraud: The scammer uses the data of the stolen or lost credit card and makes a transaction without the legal permission of the card owner.
- Chargebacks: Some customers request a chargeback even if they have received the good or service. In addition, some buyers contact the issuing bank and claim that they have never made such a transaction.
To minimize the risk of fraud, looking for a PSP that offers fraud prevention and chargebacks to its customers is the best option.
Do you want to know what are the last two ways to secure online payments? Then do not miss the second part this Friday.