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If merchants are exposed to security vulnerabilities when processing digital payments, the risk of cardholder data falling into the wrong hands increases exponentially. This is why PCIDSS compliance is critical. In this article, we’ll discuss why your business needs to ensure PCI compliance and what the 12 PCIDSS v4.0
Today, the framework introduced in the early 2000s outlines 12 PCI requirements that merchants must satisfy to process credit card transactions on the card networks. Failure to meet these standards could result in fines or bans as a merchant or service, rendering you unable to process payments or send payment data with the major networks.
Tokenization vs encryptionDataencryption is another popular data security technique where data is transformed into an illegible format. In contrast, tokenization does not depend on keys or encryption algorithms, as random data is mapped to and replaces sensitive data.
TL;DR A payment gateway is a solution that securely reads and transfers a customer’s payment information to a merchant’s bank account—both for online and in-person transactions. Think of it as a cash register, except that the payments it processes are non-cash. The customer’s card-issuing bank that holds their credit card account.
Security and compliance are non-negotiable when dealing with credit card processing. Ensure the selected payment gateway complies with the Payment Card Industry Data Security Standards (PCIDSS) to protect your customers’ payment information. Security and compliance.
Moreover, these gateways support various payment methods, including credit and debit cards, e-wallets, and bank transfers, making it convenient for gamers to choose their preferred options. Transaction Authorization: The processor communicates with the player’s bank or payment provider to verify and approve the transaction.
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