The Security Imperative for Payment Gateways
“There are risks and costs to a program of action—but they are far less than the long range cost of comfortable inaction.”
John F Kennedy
It would be perilous to be comfortably inactive in a dangerous world of hackers and data thieves.
In a world that’s becoming increasingly being accustomed to data breaches and cybersecurity risks. It is therefore imperative that necessary safeguards must be put in place to protect the consumer and the enterprise. Security invariably is an issue in the payment gateway space. Consumers won’t pay online if the system isn’t secured. It is a trust issue.
Security is a big factor in the e-commerce space, hence we as an industry have come up with a whole host of symbols to drive consumer confidence.
The payment processing industry has gone through a paradigm shift in recent times owing to significant growth in the e-commerce space, in emerging markets where e-commerce companies have sprouted in huge numbers and have been instrumental in driving consumption.
In such a scenario, the payments processing industry has been moving through with security measures which improves data protection yet retaining the efficiency of transactions. The trends that are driving the payments processing industry from a security standpoint are as follows:
- Integrators are taking the QIR program seriously
- More payment solutions are seeking P2PE validation
- EMV certifications are faster and more robust
- End users are willing to pay for security
In depth explanation of the above trends can be found here.
The last point among the trends is particularly interesting and goes to show that the consumer cares for security while making a payment and does not really mind shelling out extra for having the peace of mind while transacting on the web.
In fact, we at PayTabs understand the critical nature of payments security, hence we have a robust security infrastructure to offer the highest level of security, for your transactions and your customers.
Given below are some of the salient features of our security Infrastructure:
- 3D Secure Authentication through Mastercard SecureCode & Verified by Visa
- Dual Layer Fraud Protection & Management
- PCI-DSS Certified
- Digicert-EV SSL Secure
- 99% fraud free transactions
Visit our homepage to know more or leave a comment below, if you have any queries or insights. We would love to hear from you.