Many businesses are now planning to boost their sales and repeating customers by increasing the different payment options available to them. Out of the various payment options such as PayPal, Cash on Delivery (COD), VCC, etc. only PayPal is in vogue and the most convenient option. But expansion of business can’t be achieved with the help of these payment options, one need to incorporate the option of accepting credit and debit cards. Credit card is the best way to shop online, as accepted by most of us, and hence it should be considered as the most prominent payment gateway. Many websites have already taken this into consideration, but most of us are unaware of the dangers that come along with it. Today, I am going to discuss some of the hazards that are amalgamated with the acceptance option of credit card.

The Dangers:

When you are accepting a Credit Card via your merchant account with the credit card processing company, you are not aware whether the Credit Card is original or not unless you website is PCI compliant. Hence there is always a threat of getting payments from fraudulent cards. The next threat may come from the innumerous hackers spread throughout the web world. Once the Credit Card number is verified by the credit card processing company, payment is deducted from that card and all of this is done through a Gateway. Hackers have now developed improved methods by which they can even sneak into the secured Gateways and hence transfer of funds may be reverted. Some of the very old SSL (Secure Socket Layer) layers are also very prone to attack by the hackers and hence anytime your money can go in the wrong hands from secure connection itself. If there is any case of break in, you won’t be allowed to accept Credit cards such as VISA, MasterCard, etc.

The Measures:

Since the threats are huge, the measures too should be advanced and pragmatic. To safeguard the different payment mishaps, PCI (Payment Card Industry) came about so that there’s a considerable reduction in the fraudulent transactions. To get a PCI compliance status, you need to get your website checked by an Approved Scanning Vendor (ASV), which after performing several tests on your website, will approve your website for PCI compliance and your website will remain so for at least 3 months, after which the tests are repeated on your website to ensure the permanence of the security of the customers as well as the vendors. PCI compliance is a very good way to keep away the good hackers, but it is not enough to keep away the genius ones. For that you need to take extra measures, such as regular checking of your website by professionals to discover and eliminate any BUGS from your website. You will also need to choose your credit card processing company wisely so that the security check and measures adopted by them are enough to keep away the hackers as also avoid possible fraudulent transactions.

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