Are you thinking that an online payment gateway is just about facilitating your customers to pay you? If yes, then you are wrong!
A payment gateway can help drive the success of the business and can even slow it down. It is an online platform that provides a secure connection to carry out the transactions and verifies, accepts and declines the transactions on behalf of the merchant. If you own an e-commerce website, then you cannot sell your products and services to your customers without a payment gateway. You definitely need a secure payment gateway that can process credit card and other internet transactions of your customers.
How do Payment Gateways secure online transactions?
Let us find out about some of the security methods used by the payment gateways to safeguard the payments.
· Data Encryption- It is the main security method used by the payment gateways to safeguard the money. Once a customer enters his/her card details in the payment gateway, it gets encrypted through the payment gateway’s public key. This information can be decrypted only by the payment gateway’s private key. Using an algorithm, the payment gateway ensures that no unauthorized party decrypts this data.
· Secure Socket Layer (SSL) — It is the standard security protocol followed by payment gateways to establish an encrypted link between the server and the browser. Ecommerce website makes use of SSL to protect the sensitive information of the customers. It is recommended to always make an online transaction with websites that are SSL certified.
· Secure Electronic Transaction (SET) — This protocol is used to aid secure transmission of customer’s card details during an online transaction. This protocol prevents merchants and hackers from accessing the sensitive information of the customers by blocking out the details of credit/debit card. It also uses customer’s digital signatures for authentication and to maintain confidentiality.
Streamline Your Transactions Using PayTabs
With the increase in online shopping, the need for merchants to utilize a secure payment gateway is also increasing. An online payment gateway can help a merchant to expand his business by increasing the profits and by minimizing late payments.
When you are looking for the best online payment gateway (link), look no further than PayTabs. PayTabs offers a wide range of features to secure the payments of your customers. It facilitates fast and secure payments and maintains a very high level of security. Let us find out how:
· PayTabs offers a unique and effective way to detect and avoid fraud. It has a two-tier defence strategy which helps in identifying fraudulent activities. Each of the transaction passes through two security layers- first is the in-house security layer and the second is the third-party fraud protection layer.
· PayTabs is PCI DSS V3.2 certified service provider. The company protects customer and their data as per the Payment Card Industry Data Security Standards.
· PayTabs stores all of the customer’s data in a highly secure environment.
· In order to prevent system breaches, PayTabs performs periodic maintenances in the form of Vulnerability Assessments, Penetration Testing etc.
With PayTabs, one can focus fully on the business without worrying much about the fraud and the theft.
