Secure Credit Card Processing

The Importance Of Secure Credit Card Processing

Secure credit card processing is now essential for any business, whether that business is selling physical products in a store, operating through mail order, or doing business solely through the Internet. Whenever a business is granted a merchant account, the bank offering the facility assumes a risk. All credit card transactions are subject to chargebacks, which can potentially result in losses incurred by the bank. There is also the ever present possibility of credit card fraud, which can be dramatically reduced, but never completely eliminated.

There are still many people who are reluctant to use their credit cards for online purchases, despite the fact that they are fundamentally safer than transactions carried out over the telephone, and even those through mail order. Although their fears are largely unjustified, there is one situation which can cause trouble for the unwary. It is quite possible for a fraudster to create a duplicate web page, which looks exactly the same as a page where a customer would enter payment details. Instead, of course, the information is fed to an email address used by the criminal.

The problem is that many people who use the Internet are not accustomed to making sure that the page displayed is a genuine secure web page, with “https”, instead of “http” in the address bar. Experienced Internet users are hard to fool, but there are many ingenious scams which catch even them out when they are not paying enough attention. When you add this activity on to the simple stealing of credit cards, you can see that the banks have a lot to deal with in making transactions secure.

Setting up secure credit card processing on your own website is not difficult. Even if you have no actual merchant account, you can use a third party processor. In fact, this is easier, as it involves no need to match up the different parts of the merchant system. When you have your own account, you need to make sure that the shopping cart software integrates properly with the payment gateway, and that these both integrate with the card issuer system. Only then can important information be properly verified.

When choosing your secure credit card processing system, be sure that you have as much security as you can get. Make sure that the system asks for and checks the CVV number on the back of the card, and that Address Verification Service is used to compare the billing address held by the card issuer with the address filled in on the online form. Both of these steps add a significant extra layer of security to the payment process. By making sure that your system has these features, you will be availing yourself of the highest possible degree of secure credit card processing.

 

 

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