Payment Systems – Simple, Safe and Secure
The technological progression reached its zenith of popularity over the last few years. Like several other fields, it has marked its footprints on the payment systems too. Nowadays, you will find more people carrying different applications and debit or credit cards for payment rather than using cash. However, this rapid growth of online transactions has created a new world for cybercriminals.
The more online payment users increase, the more it helps those fraudsters. Therefore, irrespective of whether you are a hotel or restaurant owner or have an online shopping store, you should provide the highest level of security to your potential customers to keep their data confidential, safe, and secure. So, you need to use various methods and tools for your hotel payment system to offer that advanced level of security. So, you might wonder, how you can provide that security level to your consumers to control and reduce the danger of fraud and keep your clients safe from the hands of cybercriminals. To ensure this, you can find a reputed payment platform that incorporates both secure payment processing and an effective anti-fraud protection system. Besides, go through the below segment to know several other things that will assist you in making payment simple, safe, and secure.
• SSL protocol
To ensure a safe payment system, you must implement SSL protocol on your website. It allows you to encrypt data going through your website, like sensitive data and credit card info that people use during payment. When you add this protocol, the customer will see the padlock icon in the URL bar and ensure that the site is safe and trusted. It will also help your business to get more clients by creating a solid brand reputation. So, use it for your organization’s success.
• Tokenization
Tokenization is the latest and preferable technology that helps to enhance hotel payment security and give a payment process without vulnerabilities. Without impacting the transaction security, it will assist the clients during the checkout process. The tokenization system utilizes tokens with random characters that substitute susceptible information like your debit or credit card number. Using this system, you can minimize the risk of data breaches. It is so because if someone stole the token, it will be ineffective to hackers or cybercriminals.
• 3D secure
The 3D secure authentication system is a new-age simple and safe payment method. It uses biometrics or tokens to ascertain cardholder information. Due to this unique system, it can effectively reduce fraudulent practices. Therefore, you can utilize this method to offer a safe, simple, and secure payment to your potential customers.
• Address verification system
Also known as AVS, the Address Verification System is a popular online payment security measure that prevents fraud cases on debit and credit card transactions. AVS ascertains whether the billing address matches the consumer associated with the card or not. It happens as the merchant requests to verify the address. After successful verification, the merchant gets a response code from a debit or credit card processor to determine whether it is authentic to receive or reject the transaction. So, this is beneficial. However, AVS is not a guaranteed payment prevention system, and as a result, you need to combine it with other anti-fraud systems to get the best result.
• PCI compliance
Payment card companies like MasterCard, Discover, Visa, American Express create dPCI compliance to set payment-related regulations. This system demands organizations to yield 12 general data security needs that every merchant should follow. It offers maximum security and protects identity theft significantly. Merchants who wish to store, process, or transmit card data are required to be PCI compliant. Though it is beneficial for preventing cybercrimes, the implementation method is a daunting task. That is why merchants prefer to take help from payment providers. It is so because these providers take care of these PCI issues effectively. Hence, you do not have to worry about PCI.