E-commerce has created opportunities for many entrepreneurs all over the world. As an entrepreneur, you may get numerous security risks when starting your online business. If the vulnerabilities are not keeps in check, your online business will suffer significant losses. To secure your digital business, you must take extensive preventive measures.
Furthermore, when it comes to financial transactions, any fraudulent activity can harm your company’s credibility and reputation. As a result, you must take the necessary precautions to safeguard yourself and your customers from digital fraud.
How do international online credit card transactions work?
Request and Response for a Transaction
- The cardholder makes a payment from the merchant’s website and enters credit card information, kicking off the online credit card processing.
- Over a secure connection, the merchant sends data from the sale to an international payment gateway.
- The data securely transmits to the merchant bank’s processor.
- The merchant bank’s processor sends the transaction details to the credit card network (Visa and MasterCard interchange), which routes the transaction to the bank that issued the customer’s credit card (Issuing bank).
- The transaction is approved or declined by the issuing bank, and the results are returned to the credit card with our high risk payment gateway.
- The transaction results are then sent to the merchant bank’s processor, who relays them to update its systems with results and sends them to the merchant, indicating whether the transaction was approved or declined.
- The merchant responds to the customer in real-time.
Settlement
The funds are then sent by the issuing bank to the credit card network, which forwards them to the merchant’s bank (acquiring bank). The funds are deposited or settled into the merchant’s bank account by the bank.
3 Simple ways to keep your digital business secure
To keep your online business secure, you must minimize the risks by enforcing protective measures. How do you do it? It may be difficult for a novice to manage a secure environment. However, if you follow these tips to improve the security of your online site, you may find it easier to navigate. Let us go over it in depth.
Ensure that your website is PCI compliant
So, if your online website deals with trading activities and accepts credit card payments via high risk merchant account, you must PCI-certify it to ensure its security.
PCI stands for the payment card industry, and it is primarily concerned with the security of customers’ and service providers’ personal sensitive card information. PCI has created a set of security measures to safeguard financial transactions against data breaches and other deceptive attempts.
Maintain your website
Using outdated software is the equivalent of leaving your back door open! You may be vulnerable to security breaches if the software on your website is not up to date. To ensure your peace of mind, you should reduce your website’s cybersecurity vulnerabilities by updating its software on a regular basis. You will protect yourself and your company from potential data loss and financial consequences by implementing this measure.
Password settings should be tougher
No matter how strict your website security is, hackers have numerous programs that can easily crack your passwords and gain access to your website’s data. So, how can you secure your website? You should implement a company-wide password policy instead of the 4-digit weak password. To avoid any suspicious logins, you can also use a two-way authentication service. According to research, poor password settings cause approximately 81 percent of company data breaches. So, choose a sophisticated password policy to secure your digital business.
Data Security Standards for the Payment Card Industry (PCI) (DSS)
We are serious about data and transactional security, and it is at the heart of everything we do. The Data Security Standards are a set of standards by the Payment Card Industry (PCI) (DSS). It is a requirement for all payment service providers, and we are certified every year to ensure our standards remain world-class.
In all areas where cardholder data is transmitted and stored, PCI requires the highest levels of security. As a result, we developed a multi-layered, secure International payment gateway.
Data is encrypted in accordance with PCI standards, and intrusion detection, response, and system monitoring work in tandem with formalized security policies.
A series of advanced and automated alerts monitor critical servers around the clock. We have support staff on call 24 hours a day, 7 days a week to receive these alerts and respond within 15-30 minutes.
Why choose International Payment Gateway from PayCly?
We provide a variety of real-time, powerful international credit card processing solutions. Online merchants will be able to accept multiple currencies and credit card brands. We specialize and work with all of the region’s major acquiring banks. In this region, we have more connections than any other payment gateway provider. Please contact us right away:
- Powerful credit card processing in real time
- True multi-currency support
- Payment processing
- Credit card processing
- Payment gateway with many features
- You-specific customer service
- Address Verification Service or 3D Secure Fraud Management Tools
Summary
If you run an eCommerce website or another type of international business, you most likely accept payments from customers all over the world.
Many payment processors allow you to accept international payments, allowing customers to pay in their home currency while you collect money in US dollars.
If you accept more than just the occasional international payment, you should look into high-risk credit card processing that can serve businesses with a high volume of international transactions.
