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Credit and debit cards, digital wallets , ACH transfers , and other digital payments have become the norm. To accept electronic payment methods fast and securely, you need a payment gateway. Ensure the gateway offers PCIDSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions.
To stay ahead of fraud means merchants must understand the threats, use trusted and secure providers, and keep up to date on payment security trends. So, let’s dive into payment security, touching on the basics of what you need to know to ensure secure payments. billion digital wallet users, or 42.6%
Table of Contents PCI Compliance in a Nutshell PCI compliance, also known as the Payment Card Industry Data Security Standard , or PCI-DSS, is an important standard that major credit card companies like Visa and Mastercard have adopted to protect themselves and their merchants from the risks associated with exposed cardholder data.
While the news may bring breaking headlines about stolen or lost data from large corporations, every business can take the steps necessary to secure sensitive data. TL;DR PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. What is PCI Compliance? That’s where Stax comes in.
The Payment Card Industry Data Security Standard (PCIDSS) plays a crucial role in protecting cardholder data for businesses that accept credit card payments. This set of security guidelines is mandated by major credit cardassociations such as Visa, Mastercard, American Express, and Discover.
Bank of America launched the BankAmericard in 1958, widely considered the first credit card available to consumers, which eventually evolved into Visa. In 1966, a group of California banks formed the Interbank CardAssociation (ICA), later known as Master Charge and then Mastercard.
Between the alphabet soup of acronyms (PCI? Seamless and secure credit card processing is crucial for any business. More specifically, the OCC labels a merchant processing activity as: “the settlement of credit and debit card payment transactions by banks for merchants through various cardassociations.”
BIN Sponsorship A service provided by payment processors that enables merchants to accept payment cards from multiple card issuers. Bluetooth Card Reader A wireless device that connects to a mobile device or computer to process payment card transactions.
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