Online Payment Solution: How To Keep Online Transactions Safe?

Online shopping is undeniably growing at a fast pace. While this is great for businesses, doing shopping online could pose some real risks in terms of fraud and theft. Just like when shopping in a physical store, there could be risks of encountering pickpockets; well, the same could apply to online shopping. Whether you have just started your business online, or are an established online retailer, or are close to starting to sell online, you absolutely need to know that security online is vital. Just remember that if you fail to provide a safe online shopping experience for your customers, you’ll probably fail to gain their trust, and consequently be unable to make sales or sell online successfully. 


“Is it safe for me to shop on this website?” Customers have probably asked themselves this question many times when browsing online. Buying our favorite products via a screen without any physical contact can make you slightly apprehensive. So what is causing the hesitance? Will my money get stolen? Will my card details be hacked? Will my private data be stolen? Many questions and this is not about to change anytime soon, especially as online payment fraud is increasing at an alarming rate; in 2020 alone millions were lost due to online fraud. Online shopping may be growing, but so is online fraud in parallel. But how to keep online transactions safe? Keep reading this blog and we will explain.


What’s Considered As Secure Online Payments?

Handling online payment transactions is not an easy task. It’s the role of your payment technology provider to offer you a secure online payment solution that respects a series of rules and compliance requirements to guarantee maximum security. We’ll go over this in more detail in the following paragraphs, but for now, something for you to think about -“PCI compliance.” Let’s be honest: zero percent risk is difficult, if not impossible to achieve when it comes to online shopping. But it is your responsibility as an online business owner to offer maximum protection, as you are not immune from cyber-attacks. Consider a customer who trusts you and shops with you, only to have their money stolen later. You don’t have to move mountains to provide a safe and enjoyable online shopping experience. You simply need to ensure that customers can checkout safely and that their personal information, such as credit card information, ID numbers, and contact information, among other things, is kept secure. In short, customers should be able to shop online in peace.


How To Provide A Safe Online Shopping Experience With A Secure Online Payment Solution?

PCI DSS. Ever heard of this term? Well, apart from it being mentioned above, PCI DSS is not generally used and you don’t hear about it every day. However, if you are an online business owner or are involved in the e-commerce world, PCI compliance is nothing new or out of the ordinary for you. Indeed, if you’re concerned about online payments, you’re aware that PCI compliance is sacred ground! To be more accurate, PCI DSS, also known as the Payment Card Industry Data Security Standard, is an independent global organization that has created a series of security regulations developed by the major card brands (Visa, MasterCard, JCB, American Express, and Discover) to combat threats, fraud and improve payment security. Every merchant who processes, transmits, or stores credit card information needs to follow and adhere to the series of security regulations set by the PCI DSS.


What IS PCI DSS Compliance And Why Is It Important? 

We will never say it enough: PCI compliance is the most important security consideration when processing transactions online. PCI compliance regulations will depend on the type and size of the business (how many transactions are processed). However, regardless of the business nature and size, PCI compliance’s main goal remains the same: to protect sensitive information and prevent online fraud and theft. There are four levels of PCI compliance. While this may sound like a boring and uninteresting subject, keep in mind that your business cannot operate without it. PCI DSS compliance levels are:


  • Level 1: 6 Million or more transactions per year
  • Level 2: 1 to 6 Million transactions per year
  • Level 3: 20k to 1 Million transactions per year
  • Level 4: Less than 20k transactions per year


PCI compliance might be complex if you have to handle it on your own. Luckily, if you work with a skillful online payment solution provider, he will take care of those elements for you. This is only applicable if you work with a legitimate payment provider, but we won’t get into that because it can be covered in another blog. Perhaps you can check out our previous blog (link) to see if your current payment provider is providing you with the necessary assistance to grow your business online. As stated, your payment provider will handle most aspects of online payment. When choosing a payment provider, you need to ensure that they will take away this burden from you.


Most online payment solution providers are supposed to be PCI compliant, but remember to always inquire about it before making your final choice, ask for their Attestation of Compliance. A PCI-compliant payment provider will engage itself in protecting your customer’s card details, online payment processing, and any effort to foster a safe online shopping experience. If you are still wondering why your business needs PCI compliance, just keep in mind that if you do not comply with data security standards, your business will not survive, and you could find yourself in legal trouble. Not all of your customers have to be victims of online theft or fraud to cause harm to your business, your business reputation can be damaged in a fraction of seconds. Being an online business owner is also about anticipating and being proactive. Read more from them here if you want to.


How can Appletree’s Payment Solutions Help My Business To Comply?

At Appletree, we successfully achieved full audited compliance with the PCI DSS as a Level One Service Provider, demonstrating a clear commitment and effort to ensure data security amongst card payment processes and taking clear steps to ensure all data is held, processed, and transmitted securely. This achievement involved an external audit of the way all management, storage, and processing of payment cards and customer data is carried out and is the standard required by the world’s largest merchants and processors. This audit is an endorsement of Appletree’s security standards and allows it to process large volumes of transactions for any merchant. We don’t just want to keep our certification to ourselves: we are a Level One PCI DSS service provider for you, so you don’t have to worry. With our custom packaged service, your customer data and payments can be handled at the highest level of security with no risk of penalties to you. Do not hesitate to contact us for more information here.


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