This is a simple but effective type of multifactor authorization that dramatically improves security.Īs with all efforts to ensure online payment security, the use of multifactor authentication doesn’t just make e-commerce safer it also makes customers more likely to click “buy” in the first place. The second factor is typically a code sent to the user’s phone or email address upon request for access this tactic verifies that the user also possesses an item (the phone or email account) that proves their identity. A simple way to do that is to prompt the user for a password - but a malicious user could acquire that password, so a single factor isn’t enough to guarantee security. To grant access to protected information, a system needs to verify the user’s identity. The immediate security is now shifted to leverage the payment gateway’s systems, whose day job is all about security on your behalf.” Multifactor authentication “All the system knows is that the payment gateway did or did not approve the payment and why. “For most businesses now, the best option is to fully tokenize their payment gateway relationship with their e-commerce platform, such that the business’s own e-commerce system never actually sees the full payment information,” Agouris says. Tokenization is a powerful strategy that replaces a credit card number with a unique code, or “token.” Client computers transmit the token rather than the information itself, rendering the data useless if it’s stolen.Īgouris recommends choosing a payment gateway that provides tokenized transactions for the greatest security benefits. Tokenization for secure online paymentsĮncryption isn’t the only way to conceal financial identifiers as they move between customers, your site, and the payment processor. This document includes only the PCI DSS requirements that apply to sellers who outsource payment card handling to validated third-party services - i.e., reliable payment gateways.īe sure to ask any third-party vendors that handle financial transactions whether they carry validation for all PCI DSS requirements. Most e-commerce merchants who use payment gateways can gauge their level of PCI compliance with that organization’s Self-Assessment Questionnaire A. Major payment card brands like Visa and Mastercard operate independent programs that define validation levels and compliance, so the notion of “compliance” itself is complex. It publishes and updates the PCI Data Security Standard (PCI DSS), which applies to “all entities that store, process, or transmit cardholder data and/or sensitive authentication data.”ĭifferent types of businesses need varying levels of PCI compliance, ranging from a few simple requirements for online sellers using gateways to full validation for gateway providers themselves. The Payment Card Industry Security Standards Council (PCI SSC) is an international group dedicated to keeping payment data secure. When a website doesn’t have an up-to-date certificate, browsers may warn users of the security risk, which can pose serious problems for any website that handles online transactions. In most browsers, the presence of such a certificate is readily apparent to users, symbolized by a closed padlock in the URL bar. “For the moment, provided SSL security is up to date with modern encryption, secure information is well protected at this stage,” says Jason Agouris, CEO of digital systems provider iTristan Media Group.Īn SSL or TLS certificate is vital in today’s online ecosystem. This certificate shows that customer data is encrypted as it travels from the user’s computer to your e-commerce site during the first step in any payment transaction. Most site owners don’t need to worry too much about the difference the important thing is to obtain an SSL or TLS certificate from a trusted hosting service. However, many industry insiders use the terms interchangeably, as SSL is more widely known among web users. TLS is the newer protocol, with stronger encryption algorithms. Two major protocols accomplish this encryption - Secure Sockets Layer (or SSL) and Transport Layer Security (or TLS). Websites protect payment information by encrypting the data before transmitting it.
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