FeeFighters is a growing company based in New Jersey. The company offers credit card comparison services and negotiates to reduce the existing fees if the companies are unprepared to change their processors. Most technology fans prefer Newegg as their online electronics retailer. Newegg is one of the latest companies to be hit by a […]
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How to Prevent Future Attacks
When data breaches occur it deals a very big blow to e-commerce businesses. The clients lose confidence in the company and the company may face many lawsuits. This brings about losses to the company. Some small companies are most affected by data breaches and may not survive the attacks. For example, “DistributeID” closed down after data breaches hit the company. This brings the major problem of cybersecurity to the forefront. The good news, however, is that there are various ways to deal with the data breach challenges:
Using a Secure Payment Gateway
Payment gateways have been in use for a long time by online retailers for securing their customers’ data. They act as the broker between the customers, merchants and the banks. Secure payment gateways should have four features; integrity, authentication, non-repudiation, and confidentiality. Authentication ensures that the gateway should verify the parties information before proceeding, integrity ensures that the data remains unmodified while the parties are interacting, confidentiality ensures that data is not disclosed to any unauthorized party during the communication. This includes non-disclosure of customer’s credit card info. Security is also essential in the gateway and customers should be assured of it.
Avoid Storing Credit Card Information
Tom Harnish, a senior scientist whose websites have been hacked in the past in order to steal credit information, advises e-commerce sites to avoid storing credit card info on their sites. He states that the security of the websites is not 100% safe and are prone to attacks at some time. He gives the example of big companies like Sony whose websites has been hacked. He instead advises the sites to use trusted third-party soft wares that deal with payment processing for storing their customers’ credit card info.
Limiting Employees’ Access to Sensitive Data
Before allowing your employees to access sensitive data that can be easily compromised, you should educate them on ways of securing the data. If possible, you should employ multi-party authorization where more than one employee has to authorize a function before it can be carried out.
Perform Regular Server Checks
The servers are the most important as far as your customers’ information is concerned. You should always make efforts to ensure that the servers are secure and protected. You should ensure that you perform regular data scans on the servers to check for threats, malware, and vulnerabilities of the servers. Employees of your company who can access the servers should be thoroughly vetted. Also, installing security measures such as CCTVs and security guards is the first step in ensuring the servers are secure. Data breaches cost companies billions each year, as the retailers violate clients trust in addition to financial loss to correct the situation. Online retailers should, do their best to ensure the safety of their customers’ information.
Chargebacks are debit or credit card charges that have been disputed by customers. Sometimes these come in the form of chargeback fraud, but other times they are legitimate. When a chargeback happens, you have to deal with the acquiring bank and other entities in order to dispute it. Regardless of the reason for any given […]
Stripe is one of the world’s most popular options for credit card processing, payment gateways, and merchant accounts for business owners. But how does Stripe make money on the services they provide? Fees One of Stripe’s primary sources of revenue comes through the fees they collect from merchants. We’ll discuss these first. Credit Card Processing […]
Stripe and PayPal are known as two of the most user-friendly and versatile merchant account and payment gateway providers available. When it comes to payment processing partners, they are two of the top choices for small business owners. However, one common question from merchants is whether or not Stripe can payout revenues to their PayPal […]
The transportation and moving industry has unique needs when it comes to merchant services like payment processors, merchant accounts, and POS systems. This article will talk a little bit about what your merchant services options are if you own a transportation company, along with some special considerations and potential roadblocks you might encounter. Let’s get […]
We Fight for Small and Medium Businesses Delivering Prices of Big Companies on Credit Card Fees.