Payment processing

What’s the Most Secure Payment Processing Solution?

You need a payment processing solution for your business; there’s no arguing with that truth. Your customers expect to be able to pay almost any way they want in your store, and accepting only cash or check is a risky proposition in this day and age.

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More than that, however, your customers expect their transactions to be secure, whether they’re shopping in a brick-and-mortar store or they’re buying something online. You know you need to keep their information safe if you want to earn their trust and their business. That may have led you to ask what the most secure payment processing solution actually is.

Types of Payment Processing

You’re already aware that you can pick and choose from several different types of payment processing for your business. In a brick-and-mortar operation, you’re going to want point-of-sale (POS) terminals that allow you to accept card payments. For merchants selling their wares online, an e-commerce solution is indispensable.

Those who need to accept payment on the go, such as merchants at flea markets or traveling sales reps, will likely be intrigued by a mobile solution that allows them to turn their smartphones into a sales terminal. And, of course, the right payment processing solution provider can offer you a mix of these services, tailored to your business operations.

What’s Most Secure?

Talking about the payment processing method that is “most” secure is a bit of a gamble, since all of these methods have some risk associated with them. There is no such thing as a perfectly secure solution.

Most people think that POS systems, which reside in physical shops, are the most secure, while online solutions are often named as the least secure. The truth is that online solutions often come with more security features than POS systems, in part because of these beliefs. Since people aren’t aware of how vulnerable POS systems can be, they place less emphasis on security.

The Least Secure Solution

In some cases, it’s helpful to know which payment processing solution is actually the least secure—and that’s mobile solutions. Since mobile solutions are relatively new, they’ve had less time to develop strong security measures. As fewer people use these solutions at this time, there is less demand for security. Right now, the driving motive for using a mobile platform is often price and convenience. Security is an afterthought.

That means developers creating mobile payment apps have put less emphasis on security. That doesn’t mean that secure apps don’t exist—or that you should settle for less. Always ask what security your provider can offer you. At the bare minimum, your app should be PCI compliant. Right now, few apps are, so an app developer that has gone the extra length to become PCI compliant is head and shoulders above the rest.

Security for POS and Online Transactions

Of course, if your mobile app solution needs to be PCI compliant, any payment processing solution you use for either POS or online transactions should also be PCI compliant. That means that the provider has reviewed the requirements and implemented measures to ensure their solution’s security features comply with the standards set out by the Payment Card Industry.

That’s only a first step, however. The most secure payment processing solution will offer features that go above and beyond the bare minimums for security set out in the PCI guidelines. Compliance is a great start, but it does not mean your transactions are secure. For proof of that, you need look no further than news stories about data breaches. Instead, look for a provider that won’t settle and seeks to exceed the PCI standards at every turn.


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Emily Moore

With seven years of experience in the industry, Emily is the Merchant Boarding and Underwriting Specialist for BNA Smart Payment Systems. She also has experience in credit risk management, fraud and chargeback analysis, and in-depth knowledge of chargeback mitigation. At BNA, she is responsible for reviewing, investigating, and resolving irregular transactions; identifying and analyzing trends; exchanging knowledge of trends with peers and supervisors; and keeping records of past fraudulent activities. With a solid understanding of current fraud trends and software applications, Emily has a methodical approach to problem solving, great attention to detail, and the ability to recognize patterns. As a fitness enthusiast, Emily enjoys CrossFit and playing sports to keep active. She also loves the outdoors and spending time up north.

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