A secure payment is when the credit card's data is encrypted upon payment transmission to ensure that no data is vulnerable in via the internet.
What are the types of data security in payments?
The types of data security that can be used to protect from unauthorised and corrupted access are Data Backup, where data is safely backed up in a physical storage device or cloud server, which can be used to retrieve data in case of loss. Another type is Data Recovery, where data can be reclaimed from damaged storage. Finally, Firewalls help to monitor and control network traffic, thus restricting access and preventing the spread of malware.
How do you ensure data security in online payments?
Our gateway is certified according to the Payment Card Industry Data Security Standard Level 1 (PCI-DSS Level 1). Specifically, where the storage, processing and transfer of data within the scope of card payments is concerned, compliance with security standards has the highest priority in order to prevent misuse and payment fraud. In addition to powercash21's comprehensive security concept, all payment processes run via our PCI-DSS Level 1 certified environment. With this, we reduce PCI compliance concerns for you with regard to your online or mobile business, thereby enabling you to easily comply with semi-annual card brand enhancements.
What is data privacy and security in online payments?
Data Privacy and Security in online payments is a set of systems that are used to ensure cardholder data is encrypted, ensuring privacy and security. The set of systems includes PCI-DSS Level 1 and several other systems such as tokenisation, BIN Lookup, 3D Secure, Geo-Conflict, Velocity Checks and Pre-authorisations. All these are used to identify fraudulent purchasing behaviours and notify the merchant and payment processor, who can in turn restrict access to prevent fraud.
Data Security is essential in minimizing the risk of payment fraud. This is why Powercash21 utilizes strategies such as tokenization to ensure that potential security vulnerabilities are effectively resolved.