If you are running an e-commerce store, your primary concern is payment safety. Most online shoppers like to pay using their credit or debit cards. As the owner of the business, you have to guarantee them that your online card payment systems are safe and secure. This means being able to avoid fraudulent acts that have become so rampant online these days. As you protect the customer’s financial details, you also have to safeguard your payment processing platform against possible hackers.
Here are 5 measures to employ:
1. Use SSL
Secure Socket Layer (or SSL) is an encryption system that links your e-commerce store to the customer’s browser. This reduces the likelihood of sensitive financial information being intercepted before it gets to your shopping platform. SSL will assure the customer of a secure purchase all the time.
2. Comply with PCI Standards
It’s important that you choose a payment processor that prioritizes online card security. The processor should be Payments Card Industry (PCI)-compliant. The PCI standards require your payment system to be safeguarded against all possible leaks and to ensure that the customer financial information is not compromised. Irrespective of the size of your business, PCI compliant provider is critical as it ensures that the business meets at least minimum security requirements for processing clients’ transactions.
3. Watch Out for the Red Flag
There are so many suspicious signs that you should watch out for. Whenever you notice them, just take the necessary precautions.
• Incredible bulk orders being requested for next-day delivery.
• Several orders coming from a common IP address and payment are with different cards.
• An email address that features just a string of numerals or letters and not a name.
• Unnecessary or frequent order cancellation trends from one individual or a common IP address
4. Update Your OS
It’s advisable to update your operating system often so as to stay secured always. Hackers are getting smarter and they are coming up with newer tactics for accessing the online payment systems. You should, thus, install the latest security checks periodically.
5. Invest in AVS
An Address Verification System (AVS) is meant to alert you when someone is using a stolen card or when a person has entered billing information that does not match the details on the holder’s card.
With the above protective measures, you’ll be able to prevent fraudulent activities from interfering with your online card payment systems. This also gives the customers confidence knowing that their financial dealings on your platform are safe. It’s a win-win for both sides.
