In order to reduce the risk, you need to add more secure online payment services to your system. Here are some security measures that you must add to your payment services:
SSL Protocol
SSL Protocol ensures the security of your website. This means, each and every data experiencing your website is encrypted. As a merchant, you need to purchase the SSL Certificate for the website so that when customers visit your website, they see that your website is safe to use.
Not just that, SSL Protocol helps you grow your online reputation as well. A website will SSL has a padlock icon along with the URL of the website. This padlock icon gives customer relief that the website is safe to use.
Tokenization
It is a popular data security method used to transfer sensitive data. Payment methods are generally equipped with their system with tokenization. Using tokenization, the customers data and information remains safe even in case of the data breach.
In tokenization, the sensitive data is replaced with non-sensitive data which has no relation or meaning to customer’s original data. This non-sensitive data is called a token. This token is meaningless to the fraudsters.
PCI Compliance improves security and reduces risk. Payment Card Industry Data Security Standards (PCI DSS) tell merchants how sensitive data used in payments should be secured. PCI Compliance uses data encryption to ensure security when making online payments.
Every merchant offering online payment need to use the PCI Compliance services to ensure Payment Security for Merchant.
Address Verification Service (AVS)
It is a widely used service now where the customer needs to provide the address. If this address matches the credit card holder’s address, only then the transaction will continue.
It is a simple method and seen to dodge many frauds in the last few years. This is the reason, merchants are advised to use AVS to ensure payment security.
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