4 Steps to Ensure Safety of Your Clients Payments

4 Steps to Ensure Safety of Your Clients Payments

The number of online purchases has been growing rapidly lately. At the same time, there is an increasing number of various fraudulent schemes through which scammers can obtain money, goods, and financial information from buyers. If your business is in e-commerce, you can get many excellent tools to minimize risk and keep your customers safe. Read more about the methods in the article below.

Payment Gateways

All those who sell products and services over the Internet and accept payments electronically (bank cards, e-wallets, etc.) should have a secure payments gateway. Using such a service gives you as a merchant a lot of advantages:

  • Acceptance of payments around the clock;
  • Customers can pay for purchases from anywhere in the world;
  • Clients can make payments in any currency;
  • The payment scheme and process is transparent and straightforward;
  • Financial information is securely encrypted;
  • Your customer data is not passed on to third parties.

In addition to all this, reliable service providers offer additional fraud protection solutions bundled with gateways.

Cryptographic Protocols

SSL/TLS protocols are designed to ensure Internet information security and protection against theft and leakage. Such certificates are primarily required by companies that work with confidential personal and financial information but better be used by every site. Customers can verify that your online store uses the correct protocol by looking at the address bar. They'll see an icon with a closed lock and the HTTPS extension indicated in front of the address. It greatly increases the credibility of your website.

Card Security Standards

PCI DSS is a set of requirements that all companies that process electronic payments must comply with. In total, it includes 12 points that oblige the owner of the certificate to ensure data protection and monitor the security system regularly. Certification should be done regularly; otherwise, the business may be subject to penalties. After all, the safety of customers' personal information is the direct responsibility of merchants.

3D Secure

3D Secure technology adds an extra point to the payment scheme, at which a user should enter a temporary code sent to them, for example, by SMS or use biometric data such as a fingerprint. Relatively recently, 3DS 2.0 has appeared, which simplifies and speeds up the payment process for clients. Using this method significantly increases the protection of customer data and reduces the likelihood of identity theft, but it does not protect 100%. That is why it should be considered as part of a package of preventive measures.

Make Your Site Safe for Customers

Cybersecurity technology has leaped forward, and merchants have the opportunity to use the most advanced solutions to protect themselves and their customers. To eliminate the likelihood of money theft and confidential data leaks, it is worth using several methods that reduce each other's shortcomings. It is almost impossible to protect yourself from the actions of scammers fully. Therefore, along with payment protection technologies, you should also use solutions for analyzing the activity of site visitors to detect suspicious persons in advance.