Is Accepting Credit Card Payments Safe?

If you’ve spent time on the internet–or even just watched the news–then you may be concerned about credit card theft. Most of us worry about it from our perspective as a customer. But as a business owner or decision-maker, your concerns are a little different. One, you may be worried that a rejected payment will cost you after a client has already taken your goods or services. Two, you might be worried that you might be assessed a chargeback fee for a rejected payment. And three, you also might be worried that if enough transactions are cancelled, you could lose your merchant account.

Securing your business isn’t about accepting or not accepting cards. It’s about using the right merchant processor for your customer payments. You want a payment processor that is inexpensive, protects your customers, and–above all–protects you.

No skimming

Skimming is one of the simplest ways for criminals to steal your customers’ data, so if you can find a merchant processor that prevents this, it’s a big security step. Pick a processor that issues state-of-the-art electronic card readers. This way, the card readers are likely to have more security features. Once you have your card reader, follow PCI protocol, like individual log-ins and strong unique passwords for each staff member. Restrict physical access to the card readers, so there’s no opportunity to install a skimmer.

No keylogging

You can also avoid skimming by having customers pay via mobile apps that don’t require swiping. Mobile apps that include a card reader can help to prevent phishing as well, because customers don’t need to type in anything, so key loggers won’t be an issue. Also, the mobile app is on your phone or your staff member’s phone. That gives you the opportunity to ensure that these phones download only verified apps rather than malicious software.

This makes it less likely for key loggers to sneak onto your mobile app, which has encryption systems of its own. Using a merchant processor that provides military-grade encryption is also extremely helpful. You can also use a processor that provides compatible shopping carts to minimize risk.

Instant verification and credibility

Any free download has the potential to sneak malicious software into your system. It’s safer to use features that are bundled into your merchant account. A good payment processor offers these bonus tools at no extra cost. Review your selected merchant account provider, ensure they have PCI compliance, see if they have any customer testimonials available or whether they have won any industry awards.  It is also often helpful to see whether they are a fly-by-night company or if they have been around for a while.

For more information on safe credit card processors, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.