Cards are a standard mode of payment these days. We end up using credit/debit cards while shopping online or offline all the time. After all, it’s so convenient to use cards and avoid carrying around cash.
But, card payments can pose immense security threats if not handled properly. That’s why you need to put in place some safety measures to prevent payment-related data breaches.
In this article we decode the strategies to make securing payment cards effective.
Card Payment Usage By People?
These days, more and more people are using cards for payment. A card is more portable and easy to carry around. But, what is the percentage of card usage across the world?
In most countries of the European Union, the card is a preferred payment option. In developing countries, cash takes the upper hand. In countries where the card is popular, strict privacy laws are in place to tackle security breaches.
Though digital wallets are in use, they are not very popular with all the retailers. It is best to rely on a card unless you are overflowing with cash in such a case. Interestingly, some services even incentivize card usage in the form of cash back or points.
How Can Data Loss Affect Your Business?
While using a payment card, your security credentials could be compromised. Hackers could easily access sensitive information from e-commerce sites. Hence, it becomes imperative that your business has a robust security system to protect private data.
As an organization, you need to ensure that your customers’ card details are secure in your servers. Else, it can erode their confidence in your business. Going ahead, security breaches can reduce your organization’s profitability and growth.
What is the Payment Card Index Digital Security Standard?
Payment card index digital security standard is a compliance norm of the payment card industry (PCI).
Some norms that the PCI follow according to this standard are:
- Continuous testing and monitoring of the network.
- Maintaining customer privacy by ensuring data security.
- Safeguarding the data of the cardholders.
- Managing and reducing system vulnerabilities.
- Putting forth robust access control measures.
- Incorporating a firm information security policy.
If you are looking for a perfect collaboration for securing payment cards, you can give MyTek a try. We are a Phoenix IT security firm that ensures the complete safety of your server.
Feel free to contact MyTek or call at 623-312-2440.