If you’re a Star Wars fan, you’ll remember the gatekeepers of the Sith holographic chronicles — the ancient repositories of wisdom that were only accessible by those experienced in the “Force.” Luke Skywalker prevented creepy creatures and mysterious monsters from stealing top-secret knowledge from these repositories.
A payment portal or gateway works in much the same way. It provides a secure connection between a customer’s financial data and you, the merchantA business that accepts credit cards for goods or services., blocking the bad guys from infiltrating online transactions.
A payment portal gives you several benefits when facilitating online payments. It speeds up payment processing, provides customers with chargebackThe act of reversing a sale made by the merchant. This can happen for many reasons including procedural and fraud. The process usually begins with a dispute from the cardholder. protection, and allows consumers to choose various payment options.
But there’s more to online safety than just integrating a portal into your online store.
Not all portals are the same, and fraud and data breaches can still occur. Sixty-five percent of consumers would end a relationship with a merchantA business that accepts credit cards for goods or services. after a single incident of payment fraud or data theft, so consider additional security solutions to safeguard your online business.
Here are three ways to ensure online payment security.
1. Invest in a MerchantA business that accepts credit cards for goods or services. Account
A merchantA business that accepts credit cards for goods or services. account is a type of business bank account for merchants that accept online payments from customers. These accounts, which process credit and debit card transactions, come wrapped in layers and layers of encryption that provide both you and your customers with ongoing peace of mind.
Unlike regular business bank accounts, merchantA business that accepts credit cards for goods or services. accounts serve one purpose: to facilitate e-commerce payments. Money doesn’t move in and out of these accounts as it does with a regular account. That means no delays in getting paid. Plus, there are no fees like traditional banks charge, potentially saving you thousands of dollars a year.
“When a business wants to accept credit and debit card payments directly from customers, it must establish a merchantA business that accepts credit cards for goods or services. account,” says the Houston Chronicle. “The merchantA business that accepts credit cards for goods or services. account is a bundle of services, hardware, and software that automates the process of accepting card information and transferring funds to the merchantA business that accepts credit cards for goods or services.. The job of getting merchants signed up for Visa, Mastercard and other credit and debit processing is the merchantA business that accepts credit cards for goods or services. account business.”
Merchants often confuse a payment gatewayA payment gateway is a combination of hardware and software that provides merchants with the ability to perform real-time credit card authorizations from a website over the Internet. It’s the link between a merchant website and the processor. with a merchantA business that accepts credit cards for goods or services. account, but these are two completely different concepts. For additional security, faster transactions, and fee-free payments, you need both.
2. Choose a MerchantA business that accepts credit cards for goods or services. Account Provider That Guarantees Online Security
A merchantA business that accepts credit cards for goods or services. account won’t always provide you and your customers with the necessary security for successful e-commerce. Cybercriminals often target merchantA business that accepts credit cards for goods or services. accounts because of the personal and financial data that flows through them, such as credit or debit card information. That’s why you need to invest in a reputable merchantA business that accepts credit cards for goods or services. account provider that takes security seriously — high-risk payments experts that mitigate fraud, secure sensitive payment information and safeguard debit and credit card processing.
One of the most common ways hackers access credit and debit card data is by infiltrating the connection between a merchantA business that accepts credit cards for goods or services. services provider and a payment gatewayA payment gateway is a combination of hardware and software that provides merchants with the ability to perform real-time credit card authorizations from a website over the Internet. It’s the link between a merchant website and the processor.. If these criminals successfully penetrate this link, they can make fraudulent transactions on customers’ credit and debit cards, which will jeopardize your online business. Research shows merchants can lose as many as half of their customers after a data breach, with a fifth of consumers prepared to break a relationship with a merchantA business that accepts credit cards for goods or services. after a security incident.
So how can you stop this from happening?
Look for a merchantA business that accepts credit cards for goods or services. provider that:
- Supports high-risk credit card processing.
- Adheres to Payment Card Industry (PCI) standards.
- Updates you with the latest information about credit and debit card protection and fraud.
- Enrolls in certified payment professionals (CPP), a certification program created by the Electronic Transactions Association (ETA). This program recognizes merchantA business that accepts credit cards for goods or services. account providers and other financial service providers that demonstrate knowledge of their profession. CPP members require ongoing training and recertification every three years.
- Monitors transactions 24 hours a day to prevent cybercriminals from accessing sensitive information.
- Alerts you to any suspicious activity related to your merchantA business that accepts credit cards for goods or services. account or payment gatewayA payment gateway is a combination of hardware and software that provides merchants with the ability to perform real-time credit card authorizations from a website over the Internet. It’s the link between a merchant website and the processor., such as an abnormally high number of transactions from the same IP address.
Always choose a merchantA business that accepts credit cards for goods or services. account that Works For You(tm). Finally, opt for a merchantA business that accepts credit cards for goods or services. services provider that adheres to all Payment Card Industry (PCI) standards:
“If you want more secure data and transactions, you will need to find a PCI-compliant merchantA business that accepts credit cards for goods or services. account,” notes Business News Daily. “If the provider is PCI compliant, it should be creating a secure network, protecting customer card data, maintaining a safe network with antivirus software, and keeping a policy about information security.”
3. Choose a MerchantA business that accepts credit cards for goods or services. Account Provider with the Right Security Credentials
Not all merchantA business that accepts credit cards for goods or services. account providers offer the same levels of protection for you and your customers, so choose one with relevant and up-to-date security credentials from respected organizations. A provider that takes security seriously will typically list these qualifications on their website. When searching for a merchantA business that accepts credit cards for goods or services. account, look for credentials from:
- Better Business Bureau (BBB): The organization linking merchants with trustworthy and registered merchantA business that accepts credit cards for goods or services. account providers.
- ETA International: An accredited certification provider that defines the standards for professional business performance across various industries.
- Verifi CDRN: A protection program that prevents chargebackThe act of reversing a sale made by the merchant. This can happen for many reasons including procedural and fraud. The process usually begins with a dispute from the cardholder. disputes between consumers and merchants.
“Trustworthy credentials are much more than just an image. The companies supplying these stamps agree to place them after confirming that, in effect, there is no threat in the online store to the security and privacy of its visitors,” says E-commerce Nation.
Final Word
A payment portal serves as the gatekeeper between you and your customers, providing everyone involved in an e-commerce transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... with enhanced security. However, there’s much more to online payment protection than just a portal. Keep your data safe and provide consumers with peace of mind when you invest in a merchantA business that accepts credit cards for goods or services. account provider that guarantees online safety, adheres to PCI standards, takes part in CPP, and holds security credentials from respected organizations. This way, you can ensure online payment security.
National Merchants Association (NMA) is a merchantA business that accepts credit cards for goods or services. account provider, payments acquirerAny bank, financial institution, and public or private company that maintains a seller’s credit card processing relationship and receives all transactions from the seller to be distributed to the credit card issuing banks., and pro-business advocate for security-conscious small business owners everywhere. Payments expert NMA has security credentials from BBB, ETA International, and Verifi CDRN and adheres to all PIC and CPP security standards. It’s high-risk done right.
Learn more about our NMA merchant account.
Payments Made Personal. We Work For You™.