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Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
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Datasecurity and breach-prevention practices All payment systems run on information. However, you must ensure that all systems comply with security standards such as PCIDSS. Final Words Risks are a persistent factor for PayFacs and can be a cause for serious losses for the entire payment ecosystem.
PayFac as a Service’s vendors may guide businesses in obtaining licenses and security certifications that ensure compliance with industry standards. Riskmitigation Given that PayFacs handle the most sensitive information of customers – their payment data – they must keep it secure and detect unauthorized transactions.
Security and PCI compliance: Ensure the gateway is compliant with Payment Card Industry DataSecurity Standards (PCIDSS) and offers comprehensive security features, such as encryption, tokenization, and fraud prevention tools. This ensures your payment processing remains secure, legal, and reliable.
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