Whether you’re a business owner or a consumer, the news of online payment processing attacks and data breaches makes everyone “WannaCry”. There is a lot to protect at a business, ranging from your own finances to your customers’ personal information, and in the wake of a ransomware outbreak like WannaCry or getting hit with a data breach like Chipotle, it is a good wake up call to businesses.
If security is not already a priority to protect your business from online payment processing attacks, it should be. A business’s financial integrity is a key component of its success, and the minute that integrity is threatened, it can cause cold feet among your customers. Luckily, there are several ways to put some warm socks on customer feet before they get cold and prevent the possibility of a security hack that much more. Take it from Payline– these suggestions and security methods are no-brainer tips to take in order to secure your business.
Tip #1: Security From Online Payment Processing Attacks
Part of securing your business from online payment processing attacks is having someone you can trust to help you do so. Enter– a payment processor. Not only do payment processors like us enable all types of payments for businesses, we also protect them.
Payline has a number of security methods in place to secure your online payment processing and all other payment processing your business does. When you are choosing a payment processor to entrust your business to, take that decision slowly. Make sure you are doing research to find the best fit and asking all of the questions a processor should know the answers to. If you want to know more about this process, we have detailed answers on this and other subjects on our Payline blog.
Tip #2: PCI Compliance
One of the biggest no-brainers that you can do for the security of your company is to become PCI compliant (we can’t stress this one enough!). PCI, or PCI-DSS is a guide of regulations in place to protect transmitted credit card information. Whether it is transmitted through online payment processing, mobile payments or other channels, PCI exists for all types of credit card transactions.
Not only are these regulations outlined by the Payment Card Industry Security Standards Council super helpful, they are also mandatory. If your business were to hold off on complying with the PCI standards for credit card processing, it would cause more harm than good.
While there is a process to becoming PCI compliant and that may feel like a burden to merchants, the process is small potatoes compared to the risks (not to mention fines) of avoiding compliance. Trust us at Payline when we say that you will sleep better at night knowing that your credit card transactions via online payment processing and other payment channels are secure.
Tip #3: Stay Relevant
If there’s one thing we know about technology and business, it’s that there is rarely any stasis. Knowing this, it is very important to always make sure that the security measures and the payment processing services you are using are up-to-date, and that they stay that way. Outdated systems are even more prone to cyber attacks, and being on the lookout for trends in tech will keep you ahead of the curve with security.
Online payment processing technology will continue to evolve as more online shopping capabilities are available via mobile and other channels. As new tech comes around, consumers will expect your business to be able to stay relevant with the ways they want to interact with and pay at your business.
As a business owner, protecting a business is not an easy task. Every day there are new reports about the latest ways that cyber criminals are snaking their way into businesses big and small, and it is unsettling to see the lengths that are taken to do so. On the other end of the spectrum, however, people are working just as hard to protect against these types of threats, so fear not (at least not too much!). Follow these few tips to start, stay on top of updates in online payment processing and business security, and rest easier each day.
With top-notch data and fraud protection, Payline is ready to ease your fears about online payment processing attacks that may threaten your business.
This piece was written by Lauren Minning, Content Specialist for Payline.