3 Online Payment Security Tips for Business Owners

The security of online payment  is your primary concern when launching an online business. When…

The security of online payment  is your primary concern when launching an online business. When setting up an online business you need to put security first before anything else.

Delivering top-of-the-line protection through encrypted communication and a combined suite of fraud-detection software should be a top concern when conducting your online business. Though it can be challenging to handle all of the security concerns by yourself, it is highly recommended selecting a reputable payment gateway that handles financial transactions efficiently and also offers robust fraud prevention. This includes many elements, but here are three important things to keep in mind when you begin.

1. Utilizing a secure payment gateway

To start off on the right foot, integrating with a payment gateway that is PCI compliant is key. The Payment Card Industry Data Security Standard (PCI DSS) sets best practice requirements to keep cardholder data safe and secure. They are the industry standard for secure payment processing with an appropriate payment method and are regulated by an independent governing body. Because this compliance is maintained by an external party, they ensure your security measures meet their high standards, which can provide peace of mind to your customers. It’s also worth noting that it’s not just about being PCI compliant but staying PCI compliant as well; this means checking in yearly with these standards to make sure you’re still up to date.

2. Avoiding the use of a shared computer

When you use a shared computer, there’s a risk that someone else may gain access to your information. To avoid this situation, don’t let anyone else know your login details and be sure to log out of all accounts when you’re finished using the computer. Also, when using a public computer, keep in mind that its browser history may be visible to others who use the same machine. To maintain privacy, clear the browser history before walking away from the public computer.

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3. Employing data destruction measures

Once you have a solid foundation of security practices in place, your next step is to make sure that any sensitive data that’s no longer being used is thrown away or otherwise destroyed. This means implementing a data-destruction policy for any paper documents and electronic devices that are leaving your business, such as old employee files, hard drives, and even mobile phones.

You might think you’re saving money by keeping customer information on outdated computers or smartphones and reusing them instead of upgrading to more modern technology but if the older devices become compromised because they aren’t secure enough, it could cost you far more in the long run. And if you’ve recently closed down an office location or let go of staff members, spending time to securely dispose of their personal information can be a burden. Instead of tackling this task on your own, consider using a data destruction service like Shred-It. These services will verify the complete and total erasure of any sensitive files on site at your company, so you can feel secure knowing that all signs of private and proprietary information have been wiped out for good.

Conclusion

Securing online payments continues to be one of the biggest challenges we face in the 21st century. While striving to thrive in an SME, it’s crucial to be aware that hackers will not overlook you since your online store is still growing. You are required to implement all of the above payment security measures consistently and remain diligent about staying current with new trends as they emerge.

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