Hello merchants! Do you have a shopping cart on your website? Is it secure? Yes, secure. Purchasing products online does not guarantee that a customer’s information is secure. Instead, you need to make use of a payment gateway. What is a payment gateway? Well, we’re glad you asked…
Payment Gateways transmit your customers’ data securely to your merchant processor in a safe way, protected from individuals with unsavory plans. Chief among them are hackers who would enjoy having that information for their own use or profit. This gateway prevents the information from being taken in the middle of being transmitted. The real question, however, is HOW does the gateway protect your customers during a transaction?
There are three features employed by payment processors to protect consumers:
Point-To-Point Encryption, or P2PE, is among the most effective ways to protect information. P2PE encrypts an individual’s data after they enter their information so that hackers cannot intercept it. That information is not decrypted until it has been safely sent to the merchant processor. This ensures that the only people who have this data are the ones who are meant to.
The second method is tokenization. Put simply, it takes the customer’s credit card number, switches it out for a random set of characters and a code that can only be used once. It is then sent to the merchant processor to be decrypted using a key that only they have. This means that unsavory fellows couldn’t decode the message if they tried. This message also has no connection to the customer, so those who do obtain it would be unable to find out who it belongs to use it.
Finally, payment gateways keep your customers secure through PCI Compliance. While we already have a blog that can be read here, let’s have a quick refresher. PCI is a standard developed by credit card companies (Visa, MasterCard, etc.) to assist in providing merchants (that’s you) and financial companies (FlashBanc) in remaining secure for customers. It keeps consumers safe through multiple requirements such as: using validated payment software for purchases, keeping a firewall on your computer, and encrypting data before transmitting it over public networks. This is a very small taste of what PCI has under its belt, but it provides a basic understanding of why it’s important and useful.
These three methods are not the only ways of keeping data safe, just the most popular ones. FlashBanc offers more to assist you and all you need to do is ask! Contact your local agent or FlashBanc directly at 1-800-808-1622 or firstname.lastname@example.org where our support department can assist you further, 24/7! Let us know what you want to accomplish and allow us to help you get there by offering the best credit card solutions, in-store and online, that you’ll ever see or need. While you’re at it, also ask our agent of any other solutions that you might make use of, from wireless terminals to programs that best fit you, all provided by FlashBanc!