Happy St. Patrick's Day from BluePay!
Do you ever share your email password with others? Do you sometimes leave your home without locking the door first? Of course not.
In most facets of life, we don’t rely on luck to keep our family and belongings safe. Instead, we take commonsense steps to protect the people and things we care about most.
So, why would you ever take chances when safeguarding your business?
Payment security is something you should focus on all year. With St. Patrick’s Day just around the corner, we wanted to stress that Lady Luck isn’t your friend — and you should do everything in your power to protect your customers’ payment data from would-be thieves.
How? Below are six proven strategies to get you started.
1. PCI-Compliant Payment Processing
The most obvious starting point is to use a payment processor that adheres to the latest PCI-compliant security standards. If you follow this step, you’ll be able to avoid the vast majority of fraudulent transactions.
2. Credit Card Tokenization
With tokenization, any credit card values that are captured, sent or received are substituted for one-time “tokens” that only your payment processor can decode. Even if a thief manages to get his hands on one of these secure tokens, he won’t be able to make unauthorized purchases.
3. Point-to-Point Encryption
With point-to-point encryption (P2PE), once a credit card is swiped, all data is securely encrypted from the point of entry, while the data is in transit, all the way through to authorization.
4. Fraud Management Tools
With advanced fraud management filters, you can easily flag and block suspicious activity within your payment environment, including:
- Back-to-back transactions for unusual amounts
- Purchases made from blacklisted IP addresses
- Transactions that originate from certain countries
With these security filters enabled, you can take back control and allow only legitimate, authorized sales to get through.
5. Hosted Payment Pages
With hosted payment pages, your customers can buy your products and services without ever entering credit card information directly on your website. Instead, those details are securely captured on third-party servers, helping to reduce both your PCI scope and your risk of being hacked.
6. EMV Credit Card Processing
If you run a brick-and-mortar retail store, an EMV credit card terminal can dramatically reduce fraud within your business. That’s because newer readers accept chip-enabled credit and debit cards when securely processing payments on site. Adopting the EMV standard can also help you avoid many of the punitive fees associated with fraudulent attacks.
Don’t Leave Your Payments to Chance — Act Now!
These extra security measures can certainly seem overwhelming at first, but the rewards are worth it. In fact, failure to implement the aforementioned safeguards can actually attract unwanted attention. The more exposed your business is, the more inviting you become as a target.
The good news is that you don’t have to implement the above steps on your own.
Instead, trust our team to keep your business safe from those who wish to do you harm. With our advanced fraud management services and 24/7 protection, we can tip the balance in your favor and remove luck from the equation entirely.