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A physically secure building is an obvious necessity for any business. After all, who doesn’t have a lock on their front door? But in an increasingly digital world, why do payment processing security features in business tend to take a back seat?
If you know you need to offer a more secure payment method to your customers, but don’t know where to start, consider the following:
Because sensitive credit card data is so valuable to identity thieves, businesses that take payments online are often a target for data breaches. Visa and Mastercard require that all merchants who accept credit and debit cards follow Payment Card Industry regulations. This helps protect card holders from fraud.
The fallout of a data breach is always hard to recover from. In many cases, the cost of losing customer trust can devastate and even bankrupt a business.
The risks that arise from accepting credit and debit cards can be minimized through a Level 1 PCI compliant service provider. This is the highest level of compliance a business can attain, and this security feature ensures the payments your business accepts will be processed securely.
PCI Compliance Levels
Encryption and Tokenization
By finding a payment processor that encrypts stored credit card data, you will be providing a secure payment processing environment for your customers. Some payment processors go a step further than encryption by also tokenizing sensitive card data in order to keep consumers safe.
Credit card tokenization is a security feature that replaces sensitive data in a system with random placeholders that don’t have any real-world use. Turning credit card numbers into ‘tokens’ provides merchants and their consumers piece of mind that their sensitive information is being safely handled during transactions.
Secured Vault Data Storage
Where is your consumer’s data stored? Finding a processor that will store your card data can save your company from a big headache. By storing the data on their servers instead of keeping it in-house, your business is no longer responsible for a large portion of the PCI compliance that comes with processing a credit card payment.
It’s important to choose a payment processor that understands the challenges of PCI compliance, and is available for consultation about the pieces of PCI compliance for which your business will be responsible. If you still wish to store data on your own servers, be aware that it opens your business to extensive and costly PCI responsibility.
How PDCflow is Different
PDCflow is a Level 1 PCI compliant payment management system, providing the highest level of PCI compliance for merchants. We encrypt and tokenize all sensitive data stored within our system in order to provide the most secure payment processing features possible for consumers.
In addition, our patented Secure Entry Overlay Technology allows merchants to take a payment without their website ever touching or transmitting the sensitive card data required. The Secure Entry Overlay is an invisible layer of protection to your business. It adds an additional security feature to your payment processing beyond what other processors offer.
When your payment representative opens the PDCflow payment screen on their computer, all payment information is entered on this invisible layer, not on the cashier’s browser. The sensitive card information is not stored, transmitted or saved anywhere in your computer database or memory. This technology reduces your PCI responsibility dramatically and keeps your business safe from a potential data breach.
Security features are an essential consideration when purchasing a payment processor, but they should not be the only factor in your decision. To find out what other questions to ask when shopping for a payment processor, download this payment processing buyer’s guide.