With all the recent credit card and personal information breaches in companies of all sizes you should seriously consider assessing and evaluating your risk exposure. If you are planning to accept credit cards online, plan to roll out a new e-commerce website or you are already accepting credit cards online, it is critical to review and perform a risk assessment so that you can determine how to minimize your liability and exposure regarding potential breaches.
The Payment Card Industry (PCI) compliance guide has multiple categories and numerous compliance guidelines to follow that depend upon the volume of your yearly credit card charges. While attaining PCI compliance can be an expensive and time-consuming task, most companies can simplify the process by shifting most of the burden to merchant services. It is critical to take the right approach and to minimize all of the risk associated with breaches and personal information leaks, especially when it can easily be avoided. Each time you place an order online, do you wish that the merchant took all the right precautions and that they did not store your credit card information?
PayPal was able to quickly grow and attract clients due to awareness and importance of protecting personal and financial information online. Instead of worrying about every single e-commerce website at which you shop, you only have to worry about PayPal to protect your data and keep it safe.
Merchant services such as PayPal.com, Stripe.com, Authorize.net and others do offer solutions that will reduce your PCI compliance requirements and help you do your part in protecting your customers. Instead of credit card information being passed via your servers, it is possible to send most (or all) of the sensitive information directly to the merchant over an encrypted Secure Sockets Layer (SSL) communication channel directly from the client without using your server to transfer the details. Companies such as these spend a lot of money to protect all of that information.
This process will help to significantly minimize risk and exposure. Even if you need to bill at certain intervals or during certain points as initiated by your customer, it is possible for actual credit card information to be securely stored on merchant services servers. And, during the initial credit card entry screen, you will be provided with a token that will point to that credit card. This methodology prevents actual credit card information from being exposed if your servers are compromised.
Most of today’s large hosted e-commerce packages are already PCI Compliant, however it is essential that you verify and confirm. Even if credit card information is stored on their servers you still want to ensure they are doing everything possible to keep all of your personal information safe. Visit mobiledeveloped.com to find out more about protecting your mobile store and mobile transactions.