Most small businesses accept online payment options to increase the convenience of customers when buying goods or services. Every customer needs to feel that their credit card information is safe as they transact from your business. This is the only way they can continue supporting the business.
As the business owner, you should take measures to protect your customers’ payment data so that they can trust you and remain loyal to your business. Taking security measures when you are accepting payments through online means is not complicated.
You can start by complying with the regulations set by the PCI-DSS. Anyone that accepts and processes credit card data on behalf of their customers should ensure that this information is secure and safe to prevent fraudsters. Though PCI-DSS are complex, you can get an IT specialist to help you out. You can comply with their regulations by assessing data security every year.
When customers use credit card services to conduct transactions in business, you should not store CVV payment data. Ensure that you dispose off payment information of the customers after their transaction so that it does not fall into the wrong hands.
There are cases when you may require to store this information for instance for future references. In this case, use a private network or encrypt the data to prevent anyone from reading it. You can also store this information in a cloud form such that no one can access it. If you are issuing a credit card check to a customer, store their names and account numbers away from any unauthorized persons.
When you need to email a customer a receipt, you should not include full details of the account number or when the credit card expires. When selecting an e-commerce platform, ensure that it is secure and it is from a reputable company. The company should be transparent in its security measures and trustworthy. Research different companies before selecting one to use their platform.
Train yourself as well as your employees on security measures. Human error is the cause of many cases of data breaches. Complying with regulations is not enough if you don’t teach yourself some of the basic security measures. Update yourself and your employees on security threats and risks that come from online payments.
Teach your staff members how to verify transactions to enhance security. Ensure that the customer enters their security code at the back of their credit cards. Learn how to detect suspicious transactions as you review small details such as weird email addresses. They should also beware of the dangers of sharing information with unauthorized individuals.
Ensure that those who work for you develop a habit of storing USB drives and other devices away every time they leave their working area. Also, get a firewall or set an intrusion detection mechanism to keep track of any suspicious traffic. You can also prevent cyber-attacks by updating your systems regularly. You should use the software in its latest version when using online payments in your business.