Get secure payment processing services for your omnichannel business
In today's technology-driven world, many businesses are selling across multiple channels. A multi-channel approach can provide a seamless and efficient shopping experience for consumers no matter what platform they're using to make a purchase: online on a laptop or smartphone, over the telephone, or in person at a brick-and-mortar location. Regardless of the channel, it's important to take the necessary steps to protect sensitive payment data. Implementing secure credit card payment processing services is a smart way for companies to do just that.
The rise of data breaches
The majority of consumers are familiar with the string of cybersecurity issues that have plagued merchants over the past few years. From small companies to big box stores across the country, fraudsters have gained access to sensitive information, putting millions of customers at risk for identity theft and fraudulent purchases using their data. These organizations - among others - are all examples of omnicommerce retailers. While their secure payment processing solutions were targeted, without these systems in place, the damage would have been much worse. Let's take a look at some of the features these systems provide these multichannel merchants for the protection of their consumers:
Adherence to the Payment Card Industry Data Security Standards (PCI DSS)
The PCI Security Standards Council frequently releases updates to the PCI DSS, which provide an actionable security framework for business owners who process, store and transmit sensitive materials through their various selling channels. While there are 12 core requirements, the PCI regularly finds ways to make their regulations even more secure. These standards apply to any organization, regardless of size or number of transactions, that accepts, transmits or stores any cardholder data. So, if you accept payment cards, you are required to comply with the PCI DSS. Keeping up with these standards can be difficult for organizations with so many other responsibilities on their plate. Your trusted payments partner can be a crucial resource to help you remain current on all requirements and take the necessary steps to help ensure you are meeting PCI mandates.
EMV chip card acceptance
With the implementation of the October 1, 2015 liability shift, a merchant may be held liable for certain fraud related chargebacks if they process chip cards on a credit card terminal that is not EMV-enabled. EMV chip cards offer additional protections designed to reduce the risk of counterfeit transactions. As more consumers are using chip cards, if you’re processing these cards without an EMV-enabled payment solution, you’re putting your business at risk for counterfeit fraud.
There will always be new innovations when it comes to payment processing technology, but perhaps the trendiest example right now is contactless payments. Contactless payments enable consumers to complete a transaction using their smartphone, and are becoming an increasingly popular form of payment. A contactless payment is made by simply waving the smartphone over a contactless-enabled point-of-sale system. Consumers like both the convenience and security of contactless payments, and businesses accepting this payment type have an advantage over their competitors.
Omnicommerce businesses have many responsibilities to tend to, simply because they operate throughout a variety of channels. One of the most important obligations is the level of protection they offer consumers. With the recent rise in data breaches and cybersecurity concerns, merchants have to take every step necessary to safeguard sensitive data. Some ways to do this include implementing a secure credit card payment processing system that is PCI compliant, is enabled to accept EMV chip cards, and offers customers a new, safer way to pay in the form of contactless payments.