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Choose an online payment service to maximize your revenue while detecting fraud with their integrated risk management solution. They use an advanced decision-making platform to prevent online fraud from happening. Best of all, since it is built into the payment gateway, there is no need for a third-party solution. Visit @ https://www.paymentasia.com/en/product-and-services/online-payment-solutions
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PCI Compliance for Payment Security www.paymentasia.com
Payment security is necessary for any business transaction. It is essential to prioritise the safety of your customers’ payment information. By understanding and implementing PCI compliance, you can make your payment transactions safe and secure for your customers. Choose a reputed online payment provider in Vietnam to protect your business from the potential loss of valuable information and preserve your customers’ trust.
What Does PCI-DSS Mean? The Payment Card Industry Data Security Standard (PCI-DSS) was developed in 2006 by five major credit card companies to prevent data breaches from affecting banks and customers. The process does not include any formal certification but a self-assessment questionnaire that can help you to demonstrate that you comply.
Four Levels of Compliance Your compliance will depend on the number of your transactions per year. Here is a breakdown: Level 1: More than 6 million transactions processed per annum Level 2: Between 1 million and 6 million transactions processed per annum Level 3: Between 20,000 and 1 million transactions processed per annum Level 4: Less than 20,000 transactions processed per annum The severity of the demands will be more for businesses that have the most payment transactions. However, there is no level of payment transactions at which you will not need to maintain PCI-DSS compliance.
The Standards Are Not Static Compliance at one time does not mean compliance for all time. New threats emerge, and this gives rise to new protocols to fight those threats. This can mean downloading new patches to develop and maintain secure systems and applications from time to time as and when they become available. However, the PCI DSS standards themselves change regularly. In fact, industry experts are expecting some wide changes to arrive this year. If you do not adjust to these changes, you might fall behind quickly.
Disadvantages of Non-Compliance Non-compliance results in fines and occasional suspensions from the major card brands. Lack of data protection will only result in losses and drawbacks. A single breach or failure can have a significant negative impact on your reputation. Maintaining security is crucial to not only protect your customers but also to keep them. Simplifications of PCI Compliance with Descoping There are many ways that an online payment provider in Vietnam can protect your e-Commerce business from possible fraud and assist with PCI descoping. They can customise solutions according to your business’s unique needs. Their experienced, flexible teams will guide you through the PCI procedure. Confidently accept all payment modes as you have the highest level of card processing fraud detection available.
Built-in Fraud Detection • Choose an online payment service to maximise your revenue while detecting fraud with their integrated risk management solution. They use an advanced decision-making platform to prevent online fraud from happening. Best of all, since it is built into the payment gateway, there is no need for a third-party solution. • Tracks and monitors customer activity across multiple devices through the entire site • Within seconds of a transaction, a Risk Score is given to every payment representing the likelihood of fraud • Works in the background without interrupting customer shopping experience
