Everyone’s shopping habits have changed in modern times. Several activities are started taking place online, the same happened with our shopping pattern. Now the real issue that creates a big buzzword for merchants is to ensure the security of payment gateways on their online store.

Merchants of online stores have to step up the game by assuring customers that their personal and banking details information will be secure. Customers will only be able to make the transaction of online payment when they are sure that their banking details and money will be safe. Cybercriminals are also going the extra mile for theft and fraud which makes payment gateways security go down in flames.

What Makes Online Payments Secure?

To make a long story short, it is a snowball’s chance in hell to eliminate cyber crimes and fraud. Good thing is that there are various methods available to secure data and prevent baking information stolen. Now hereunder we will put a brief explanation of what to focus on to confirm that payment processing on the website is secure, have a look.

SSL

Secure socket layers (SSL) are cryptographic protocols and all transactions should be secured with this protocol. It is designed to deliver communications security over a computer network. The card details and all other sensitive information are protected When the Security socket layer encrypts information. Speculating how to check SSL, it is represented by a padlock image in the address bar & the web page is initiated with HTTP.

HTTPS is compulsory for all its services with the payment provider you are using, to make sure that they have an SSL certificate in place. Secure Socket Layer Protocols are divided into four parts:

1. SSL record protocol
2. Handshake protocol
3. Change-cipher spec protocol
4. Alert protocol

PCI

The payment Card Industry is a Data Security Standard (PCI DSS) that is information security. PCI standard certificate is mandatory for organizations that handle branded credit cards from the main card arrangements.  PCI was meant to create an extra level of protection for card issuers by safeguarding that merchants meet minimum levels of security when they stock, process, and transmit cardholder bank card details. Merchants don’t need to have a PCI compliant they choose the right payment provider.

Tokenization

Tokenization substitutes sensitive information with a casually created string of characters.  The token acts as a reference that maps back to the delicate information over a tokenization system. The risk of payment fraud is minimized by choosing a payment gateway with tokenization.  Merchants are not required to save customers’ credit and debit card information on their servers.

3D Secure Authentication

3 -domain structure also known as payer authentication, is a security protocol. 3Dsecure helps to prevent fraud in online credit and debit card transactions. Three domain name messaging protocols include the merchant domain, the issuer domain, and the interoperability domain. When online shoppers want to buy something, they need to confirm the transaction with that time-generated password OTP and every liability is transferred to the issuing bank from merchants.

Anti-Fraud Tools

 Fraud protection tools are used to automatically, manually scan every transaction. Merchants need a multilevel approach for detecting fraud instead of depending on one fraud protection tool, that comes with higher protection. Payment gateway is required to be selected with keeping in mind the boundless support for customers. Businesses need to make sure to have an easy method of contacting the payment provider for troubleshooting, and that entire problem will be solved.

How To Test The Security Of Online Payment Processing?

The growing figure of customers is nowadays choosing online payments because of better accessibility, reduced contact, and well tracking. An eCommerce website for business houses needs to meet the customer’s expectations. Payment gateways used by merchants have to be seamless and secure. Customer loyalty and website traffic are also getting improved when merchant focuses on keeping the secure environments for payment. That’s why it’s essential to comprehend the basics of making online payments more secure. Let’s have a look at some of the important options of testing the security of online payment processing, that we listed out for better understanding.

PCI Compliance

There is a need to be certain that the payment system is Payment Card Industry compliant. PCI compliance validation contains the evaluation and confirmation that the security controls & procedures have been correctly applied according to the policies suggested by PCI DSS.

The reason it was formed in 2006, to regulate major payment brands and support merchants maintain their customers’ monetary information harmless. The PCI board works with traders to offer education regarding digital security and will take essential steps to increase the website’s security.

Data Encryption

Data Encryption Standard is a symmetric-key algorithm used for the encryption of online data. Data encryption technology to make sure private financial information remains private. The websites your commercial uses for transactions are part of lawful administrations and have genuine workers is ensured by this data encryption standard technology. The risk of data theft by cybercriminals is also eliminated and they will have difficulty accessing the passwords because of data encryption. It protects by adding a layer of protection for clients during the payment transaction procedure.

Safe Login Screen

Sometimes the security issue arises when customers sign in to their account. That’s why it is necessary to have HTTP (hypertext transfer protocol) In the address bar to maintain the security otherwise big trouble of security will take place. It will become super easy for cybercriminals, hackers to access the personal banking details of the customer. Customers are required to use their email in case they forget their password so nobody can access their account without their consent. That’s why it is essential to have a safe login screen that can prevent many issues which will make matters worse.

Updated Operating Systems

Updated Operating System provides Security for sensitive data. A protection system to computer system resources such as CPU, memory, disk, software programs, and most prominently data, information stored in the computer system is provided. The updated operating system will go the extra mile for keeping security because hackers are continuously finding new ways for hacking. Automatic update of the operating system for the complete network is essential, if you are not doing it start doing it right now. It keeps payment transactions safe and secure and also keeps the system safe from viruses.

Security Assessment

In recent times software became extra vulnerable to security breaks, hacking, and cyber-attacks. It is very essential to take extra steps to protect the security and quality of the online site’s network data. This has been only possible with a security assessment. Security assessment lets businesses identify upcoming risks and threats and allows businesses to take essential safety measures to avoid security breaches, hacks. It has one feature that includes ethical hacking, in which diffusion test predictors review networks similarly as a hacker would. After examining they will provide consultation to increase safety measures. Security awareness training is also provided by them to learn more about safeguarding.

Wrapping Up

Come rain or shine merchants should use their best to create a secure payment gateway and customers should be aware while doing online transactions. The rule that needs to be followed for the secure transaction is different for customers and merchants but most importantly they both need to be aware. Instead of taking an impulsive decision, customers should check the authenticity of the site they are buying from.

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