Man in coffee shop about to make an online payment with credit card

Online Payment Protection Methods

Payment security is definitely a top criterion to consider when choosing which payment method you’re going to use to pay for online services. There isn’t a shortage of online payment methods on the market, however, not all of them offer the same level of protection that your payment method offers to clients. Online shopping is on the rise, and more and more people recognize the benefits of online payment methods to shop online without worrying about the level of protection of your data.

Online platforms and security protection

The majority of online payments are trying to compromise payment processing efficiency and effective anti-theft protection. A number of online payment methods surely achieve this effect by providing customers with a high level of online security protection, whether you’re shopping online, paying the bills, or playing roulette games online at Casimba. There is a number of prevention tools that help online selling platforms to make customers feel secure while using their online shopping services. More and more online platforms recognize the need for increasing their online security protection to make customers feel free while shopping online, so here they are.

SSL protocol

SSL protocol is a prevention technology that online selling platforms implement to provide customers with an enjoyable shopping experience. It makes sure that all data that you enter in the online form is secure, and all data related to credit card numbers and other sensitive information, is in safe hands. The symbol next to the URL site ensures that the website is safe to use. This method helps your business increase its reputation, and build your credibility on the online platform. The SSL protocol comes with a number of security protection features, so it’s definitely advisable that your online business takes advantage of it.

Tokenization

Tokenization is another security prevention method that a number of online selling platforms are taking advantage of to help customers have a pleasant online shopping experience. Tokens are random strings of characters that replace the position of the sensitive characters regarding the online purchase. According to Neira Jones, who is an advisory board member of Indeed, PSD2, with a key focus on protecting consumers and opening up access to new providers in the payments ecosystem, will force us into better behaviors by increasing security and fraud prevention and notably by specifying stringent requirements in authentication and accountability for all players.

PCI compliance

A number of payment providers are working according to the PCI compliance that helps them ensure a high level of online protection. Indeed, PCI DSS is a package of regulations that major card brands like Visa, MasterCard, Discover, JCB, American Express, have created to comply with the data security requirements according to the PCI compliance Security Standard Council. In other words, merchants that secure the process of storage and transmittance according to PCI compliances. According to Verizon’s report from 2018, only 36,7 % of the organizations complied with this regulation, which is of great concern to the level of online security protection.

 

Staff Writer at CPO Magazine