Credit Card
Processing Security
Importance of Credit Card Processing Security
Credit card processing security is important because fraud is a concern for many businesses. The transactions which are most susceptible to fraud are CNP (card-not-present) transactions, such as those handled by online and mail order/telephone order (MOTO) merchants. Fortunately, there are simple steps you can take to lessen the likelihood that your business becomes a victim of online fraudsters and thieves..
Data Breach Protection
A data breach occurs when an unauthorized party accesses a merchant’s network and steals cardholder data. There are various types of breaches: network breaches (caused by hacking and skimming); malware and spyware; the physical loss of a credit or debit card, stolen paper records; and losses from employee dishonesty.
The potential financial damages can be costly. It’s therefore important that merchants and consumers alike be aware of the impact of data breach and how to guard against it in order to ensure credit card processing security.
Transaction Security
Most Financial institutions embed EMV chips in the debit and credit cards they issue. This helps to reduce liability risks.
Merchants can use POS systems integrated with security software that enables them to comply with the Payment Card Industry Data Security Standards (PCI DSS.)
EMV Chips have had a profound impact on the security of card payments. The benefit of EMV chips is that they store customer data on integrated circuits which generate a unique code for each transaction that is never stored or used again. Before EMV, card data was only stored on the magnetic strip on the back of the card, which made it easy for fraudsters to skim card data and then counterfeit cards.
Online Fraud Protection / The Importance of Card Verification Values (CVVs)
Most Financial institutions embed EMV chips in the debit and credit cards they issue. This helps to reduce liability risks and ensure credit card processing security.
Merchants can use POS systems integrated with security software that enables them to comply with the Payment Card Industry Data Security Standards (PCI DSS.)
EMV Chips have had a profound impact on the security of card payments. The benefit of EMV chips is that they store customer data on integrated circuits which generate a unique code for each transaction that is never stored or used again. Before EMV, card data was only stored on the magnetic strip on the back of the card, which made it easy for fraudsters to skim card data and then counterfeit cards.
Fraud Prevention Through PCI Compliance
PCI compliance simply means adherence to the Payment Card Industry Data Security Standards, or PCI DSS, which are administered by the Payment Card Industry Security Standards Council (PCI SSC).
Once a year, merchants must submit proof of compliance to the Security Standards Council. Merchants who are not in compliance increase their risk for potential fraud losses and chargebacks should a data breach occur. Noncompliant merchants are fined and can lose their right to accept card payments if they don’t take steps to become compliant.
Mobile Payments
Accept any kind of debit or credit card payment, anywhere you sell or deliver, and make paying easy and secure for you and your customers.
Credit Card Terminals
Choose from a wide range of credit card terminals to ensure your business can accept payments the best way that fits all of your needs.
ECommerce
We offer ECommerce and payment gateway solutions that make it easier for your customers to pay and to maximize your business’ online potential.
Benefits For Your Business
Evolution Cash provides merchant accounts and credit card processing for dozens of merchant categories including Restaurants, Boutiques, Online Businesses, Sports Centres, General Stores, Florists and more.
Call us at 888-724-1114 and find out if your business qualifies for our lowest rates.
