Keeping the Bad Guys Away from Your Payment Processing

Ideal Gateway System

Small business is big business for scammers and fraud. Small businesses are more likely to suffer a data breach than a medium to large business. How do you protect your business and your customers’ payment information during a transaction?

Choose a secure and supportive payment gateway for your system. At the top level, be sure all transactions utilize SSL or TLS protocol. These cryptographic protocols secure internet communications with TLS being the updated version of SSL.

A first-rate processor or payment gateway assures your business is PCI compliant.  Your PCI level depends on the total number of your yearly transactions. Your company faces fines if you’re not compliant and your risk of fraud increases.

Tokenization keeps credit card information even safer. A token takes the place of sensitive information. Choosing a gateway using tokenization keeps transaction data more secure.

3D secure or 3 domain server is available only through Visa or Mastercard. Customers assign a password to their card used for verification during processing. Your gateway should have other anti-fraud tools built in to keep the bad guys from invading your transactions.

These tools include AVS or Address Verification Services, CVV or Card Verification Value, device identification, flagging of large transactions, flagging high-risk countries, lockout mechanism, and risk scoring.

Choosing the ideal gateway system for processing your credit card transactions will keep your business and your customers happy and the criminals from ripping everyone off.

 

Author: Kris Keppeler, writer for Crossing Genres on Medium.com, and Does This Happen to You? on Channillo. Award winning podcast producer. Follow her @KrisKKAria on Twitter or on LinkedIn.

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