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Payment Security: Cut the Stress and Keep Your Customers Safe

Probably the biggest deterrent for accepting credit cards for small business is the concern for security. Some old-school business owners simply don’t want the responsibility of carrying credit card data, and so stick to keeping that “cash only” sign at the register. But it doesn’t have to be so scary. Here is a list of safety tips to consider if you’re thinking about making the switch to credit cards.

Education is Key

At the outset, there is a bit of a learning curve to the world of online payments and PCI compliance. With this in mind, Moolah offers – free of charge – access to DataGuardian. Their suite of services opens your business up to a wealth of educational resources to inform you on the basics of payment compliance. The more you know, the easier it is to identify suspicious activity and transactions. Protecting your online payment system begins with the right knowledge.

Verify, Verify, Verify

To guard your business from online fraud, you’ve got to put up the necessary roadblocks. To verify the card payments you accept on your online store, include all information fields possible, including billing address. You can even use a range of technology, such as geolocation to verify the IP address, or a filter that tracks how many times a user enters incorrect information and block users who may be trying to commit fraud.

Keep Up-to-Date

Outdated software is an easily exploited vulnerability for your business. That’s why it’s crucial to update your software to benefit from the latest security features available. Most applications update automatically, but it’s important to check periodically to make sure that any preventable vulnerabilities don’t put your data at risk.

Don’t Forget About Hardware

With all the concern about your software systems, be sure you also protect your computer, laptop, tablet, and smartphone, as any one of these can potentially open up your network to risk. Lock them up when they aren’t in use, and keep strong password protection on these devices. As you add employees, implement a policy of not giving access unnecessarily to each and every database or account. Having policies in place for hardware security is also incredibly important for PCI compliance.

Report It

Finally, be sure to report any incidents that you encounter. The information behind the data breach you experience can help authorities understand the continually shifting environment of cyber-attacks.

At the end of the day, when you start accepting credit cards for small business, it helps to have experienced people there to keep your website safe. Moolah’s clients are able to benefit from the security prowess of DataGuardian, keeping business secure and successful.