Data security is an ongoing endeavor for every business, especially those that handle customers’ sensitive information like credit card numbers.
Accepting payments requires your business to perform in compliance with the strict security standards set by the PCI Security Standards Council. This protects both your business and your customers, which helps maximize the time you have to devote to your business’ success.
The hardware and systems you use for payment processing should make use of the following.
EMV chip cards
Credit and debit cards now come with embedded EMV chips. This chip creates a unique transaction code with each purchase, intended to protect against fraudulent activity.
The nature of the chip makes it significantly harder to duplicate credit cards, unlike traditional mag-stripe cards which could be duplicated by skimmers at gas stations and ATMs.
Your business can make use of EMV technology by installing the appropriate payment terminals at your brick-and-mortar locations. These terminals will require chip cards to be dipped or inserted, as opposed to swiping.
Also called E2E encryption, this feature encrypts and decrypts data with unique keys required at each end of its journey across the web. The use of a second key for decrypting makes this process safer than traditional encrypting; in fact, it’s theoretically impossible for anyone but the intended recipient to view this data.
Modern payment terminals should encrypt data in this way because it’s the newest, safest method of hiding sensitive data from anyone who is not meant to see it.
The process of tokenization replaces credit card numbers with a randomly-generated alphanumeric ID number — called a token — that has no connection to the card’s owner or bank account.
Tokenization adds another layer of security by reducing the exposure of payment data to breaches. It’s especially an ideal tool for subscription-based services or automatic payments.
The PCI Data Security Standard is a list of general practices designed to protect cardholder information. A secure payment processing solution will incorporate these practices. Trained professionals can help determine what all is necessary for your business to maintain compliance.
Is your payment processing secure?
Data breaches are a serious, growing problem around the globe. Any business — big or small — can be impacted by a cyberattack. This is especially concerning for organizations that process and/or store payment data because it can compromise the security of consumers.
Forte Payments Systems offers innovative, affordable payment solutions and services that are easy to implement and manage. We support the ongoing needs for businesses of all sizes and complexities.
Learn more about how you can strengthen your payments security with Forte as your payment solutions partner on our website or by calling 866-290-5400.