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Ensuring adherence to legal and regulatory standards, such as PCIDSS (Payment Card Industry DataSecurity Standard) requirements. Speed vs. accuracy: Streamlining processes without compromising duediligence. Compliance with PCIDSS and other standards can strengthen a merchants application.
It also ensures that datasecurity best practices, particularly PCIDSS (Payment Card Industry DataSecurity Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data. You are likely better off opting for a third-party platform.
This is especially common for high-risk accounts, as more vetting and duediligence are typically required. Online Merchant Accounts Process payments for online businesses eCommerce websites, marketplaces, mobile apps Secure payments, fraud prevention, payment gateway integration PCIDSS compliance, multi-currency, recurring billing.
Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer duediligence, and adherence to card regulations. Datasecurity and breach-prevention practices All payment systems run on information.
DataSecurity and Privacy Issues Payment companies focus on datasecurity to protect transactions and customer information. Obtaining certifications such as ISO 27001, ISO/IEC 42001, ISO/IEC 23894 and PCIDSS (payment security) can speed up the process and lead to a better risk assessment.
Most payment gateways come with features like fraud detection and data encryption that are specifically geared towards keeping your customers’ payment information secure. It’s important to ensure that you are PCI compliant, even if you’re a smaller business. Why Should You Use a Payment Gateway?
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