As an online merchant accepting credit card payments, you have numerous security problems you have to be aware of for the security of your company and your consumers. At this moment, there are two chief elements of credit card security for credit card processing, including CVV. Both allow credit card transactions to be performed anonymously online, and any merchant accepting credit cards online should require both kinds of information of your clients.
Card Verification Value
The CVV, or card verification value, sometimes known as the CVV-2 is a three to four digit number found on the rear of American Express, MasterCard and Visa cards. It is about the card but not on any statements, so that if a person has found a prtship credit card invoice in the garbage, they are not able to complete a sale which needs the CVV code for confirmation purposes. When a customer can enter the CVV code, it is a strong sign that the customer has the credit card in hand, which raises the possibility of the card belonging to the individual who’s trying to use it to make a purchase online.
Most credit card fraud online occurs when a thief has discovered a lost Receipt or a thrown credit card statement, but by requiring the CVV code, the retailer can eliminate that sort of fraud. If a CVV number is entered and is wrong, the trade will be declined by the credit card issuer.
Providing Consumers with Top Security
If you are going to accept credit cards online for payment for goods or services provided through your website, it is critical that you provide your clients with a guarantee that you are protecting their credit card info. Credit card processing typically requires that the client’s Information is moved about four times, so there are four cases when someone could get access to the cardholder’s details.
When a client first sends the credit card info to you through your checkout or web based form. You are solely responsible for safety as the online retailer, at this stage in the credit card transaction procedure. Using a secure server and a valid security certificate with the https protocol will protect and encrypt private information which you get from customers. You will want to be sure that the credit card transaction processing Applications you use for your company is protected by using a respectable processing company.
As consumer information is transferred in and out of a database through the transaction process, the safety has to be top of the line- and this is guaranteed by selecting a solid company that provides encrypted software for this portion of the procedure. Finally, when client credit card information is seen or managed by you or your employees, it is crucial that you ensure security at this point also.