The Security Behind Certified Payment Processing for Small Business

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Mobile payments market size

Credit card data breaches appear in the news on a regular basis, and the story is usually the same. Companies that accept credit and debit card payments end up losing millions of customer card numbers due to hackers who access this data illegally, often selling the information on the internet. This creates problems for the consumers who have their information stolen and for the businesses who should have been responsible for protecting that data.

Most small businesses know about the reasons to use a credit card payment processing company, but they don’t all realize that they should have certified payment processing for their security, too. By using a payment processing company that offers safe and secure transactions, small businesses can protect their livelihood and keep their customers happy, too.

Companies that switch to certified payment processing can receive better protection for their merchant card services. Payment processing agencies provide a safe third party that will encrypt customer data and keep it secure from hackers and other malicious sources. Here are just a few of the protections that a payment processing solutions should deliver to small businesses:

First off, what does “certified payment processing” mean? This service complies with PCI standards, which are an international set of regulations to guide payment processors. Transactions that are PCI compliant must be approved by this independent agency and should be performed by qualified businesses and with secured equipment. Business owners should look for a payment processor’s credentials before using their services.

Whether a business uses traditional registers or mobile payment terminals, all devices should be have the best security measures in place. Mobile payment devices, for instance, should have SSLs (secured socket layers) to encrypt customer data. Many payment processing companies can also help businesses find other security measures to keep themselves and their customers safe from criminal activity.

There are other protections that many payment processing companies and small businesses can employ to keep their customers’ information safe. Some businesses will use payment processing that requires the input of the security code on the back of a credit card — like the three-digit one found on Visa cards. Other security checks can include input of a billing zip code, driver’s license number, or other data in order to protect customers.

Small businesses are especially vulnerable to fraudulent transactions and other issues, so it’s important not to compromise on safety. If you are a business owner who needs more information about payment processing services, be sure to find accurate information on the web. You can also leave a comment below with questions or suggestions.

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