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PROCESSING OF CREDIT CARDS ON THE WEB
Every ecommerce merchant should be aware
of the fact that processing of credit
cards on the web will lead to high sales
and therefore, high profits. However,
most of them don’t have any idea as to
how secure this system is. Hence, they
don’t use this system, as they think
that they will get cheated. The security
of your customer’s is very important. No
body will do business with you if they
aren’t sure that their information will
be safe. You should be sure, only then
can you make your customer’s sure.
Every credit card processing firm based
on the web guarantees that it has the
best security systems in place and
therefore, your transactions will be
completely secure. However, you should
not believe them unless you double check
it. To do it, you should become familiar
with the technologies that the
processing companies use. There are
several security systems, but the most
advanced and the best system existing
today is “SSL”.
SSL stands for “Secure Socket Layer”. It
is a system that is developed to prevent
hackers from eavesdropping or spying on
your transactions. This will prevent
data substitution, data modification and
data theft. Let’s see what each of these
terms mean:
Data Theft: The hacker gets hold of all
the transaction information such as
account number, addresses, names, credit
card number and other information.
Data Modification: The hacker modifies
the transaction information like the
recipient addresses or any thing else.
Data Substitution: The hacker
substitutes an entire block of
information with another block.
The SSL system makes use of a 2-stage,
certificate based verification and also
encrypts the data to prevent any hacker
from using the processing gateway of the
web credit card processor. Therefore,
you should never ever do business with a
web processing company that does not
have the SSL security system because
without SSL there may be problems with
banks, unsanctioned money transfers and
then you will have to deal will
dissatisfied and furious customers.
Given below are a few don’t which you
should provide your customer’s with:
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Credit card owners should not give
out their credit card and personal
information unless they are
absolutely sure that their
information will be secure.
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Credit card owners should
immediately report any unauthorized
transaction in their card. If their
card is stolen then they should
immediately calling their issuing
bank and report the stolen card, so
that it is blocked.
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Credit card owners should find out
whether the online store they are
shopping in has advanced security
systems in place.
The security systems provided by them is
one of the most important factor when
you are considering a processing company
for your website. Always be sure about
the security features provided by the
company. You should also implement
auxiliary systems developed by
MasterCard and Visa so that your
customers will be comfortable to shop in
your online store.
One easy method to prevent credit card
fraud is: verify the shipping address
and the card holder’s address, manually.
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