You hear a lot about data security, but what does it actually mean? There are different issues to deal with, and one of those is credit card fraud. This is when someone pretends to be the cardholder, and then uses the cardholder’s credit card information to pay for various purchases, leaving the cardholder stuck with the bill. The cardholder can generally get these charges reversed.
The anatomy of interception
While physical cards can sometimes be stolen, the more common issue is digital theft. This is the concern that cyber-security focuses on, and it’s generally subverted by encryption. Encryption systems use coded language to ‘hide’ transaction details such as the identity of the card owner, the amount of the transaction, and all other details about the cardholder. As a business owner, you’re may not have the programming skills needed to achieve all this, in which case, you’ll be relying upon your payment processor.
Triple-check security levels
Check what level of encryption your payment processor uses. The gold standard is military grade encryption. On your end, you can also make sure that your business is PCI complaint. The PCI (Payment Card Industry) Council has a set of twelve security recommendations. Uf these are strictly followed, then your customer’s transactions, and their personal data, is very secure.
In addition to reducing chances of data interception, it’s also important to sport and deal with breaches or security flaws before any data gets stolen. Any good security system also involves regular assessment and adjustment, so safeguarding your clients’ data is an ongoing process.
For more information on ensuring the safety of your customer’s data, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.