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How to Secure Payment Gateway? - 4 Secure Payment Solutions

Friday, 25 Dec, 2020

Payment gateways have been a rising industry for online retailers and service providers over the last decade. Growing numbers of users are requesting a secure, fast, and efficient way to transfer money, and corporations such as PayPal, WePay, Stripe, and PayCEC have reacted to this successfully. These emerging companies have sadly attracted the attention of hackers and criminals who see these sites as an easy source of customer and credit card data. So, How to secure payment gateway?

What security principles does your business look for in a payment gateway? Why is ensuring yours passes the test so important? Let's find out.

How to secure payment gatewayHow to secure payment gateway?

4 characteristics of every secure payment gateway provider

1. Point-to-point encryption (P2PE solution)

Point-to-point encryption (P2PE) is seen as one of the safest ways to protect client transactions. The automated contact that takes place from the moment a customer swipes, dips or taps their card leaves a fraud-prone retailer. Safe payment gateways use P2PE solution to prevent hackers from intercepting payment data while it is being transferred from a merchant to a payment processor.

The merchants can rest easy with a payment gateway provider that provides P2PE solution. This helps to ensure less chance of loss of cardholder data or brand image in a data breach, fines for breaches in enforcement and loss of revenue from fraud.

2. 3D Secure

3D Secure is an extra layer of authentication that helps deter fraud in debit and credit card transactions. In particular, the online shopper creates a secure password for the credit card that they use to pay when they want to make a purchase. At that time, each transaction will be verified by password to add additional protection.

Also read: What is 3D Secure Transaction?

3. Tokenization

Tokenization replaces a real credit card number with a randomly generated string of characters, a one-time transaction-related code. The code or "token" can not be traced back to the cardholder and the numbers are useless for anyone who tries to decode them without the key to decrypt.

Hackers cannot translate these numbers into real values after a data breach, so choosing a payment gateway that provides tokenization eliminates the possibility of payment fraud by using stolen data.

Tokenization also prevents merchants as the confidential card data of consumers is never saved on their systems. It's a different way the safe payment gateway takes on the merchant's risk. When merchants do not keep payment details in their databases, hackers would have nothing to steal from.

4. PCI DSS Compliance

In 2006, leading credit card brands established the Payment Card Industry Data Security Standard (PCI DSS) guidance to assist merchants and financial institutions provide secure payment solutions.

Many of the criteria under the Standard to establish and maintain cyber defences include:

  • Only purchase and use validated payment tools at your POS or shopping cart website
  • Do not store important cardholder information on the computer or paper
  • Use a firewall on your PC as well as Network
  • Encrypt cardholder data transmission over open, public networks
  • Instruct your staff about security & cardholder data protection

secure payment solutionsSecure payment solutions

5. Safe and Seamless payment go side by side

Securing online transactions is a real issue for e-commerce vendors, as was made much too clear in the previous year. Significant infringements of data have reached at least 14 major retailers, with many hacks associated with their payment systems. It's now time for a check-in to see if your payment gateway company has the secure payment solutions you need to protect online shoppers.

There are also basic rules that must be followed for both merchants and buyers to make safe transactions. Online businesses must certainly use encrypted payment systems, delete credit card information after transactions have been completed or apply the privacy policy to ensure that consumers know what details will be obtained during the payment phase.

To keep payments safe it takes a lot of time and resources, so merchants should consistently track and analyze all data to make sure there are no open gaps. Watch carefully for any form of threat, assault, and suspicious behaviour and respond promptly if there is anything.

In fact, partner with reputable organizations that help process payments and keep data safe for your users.

Read more:

Frequently Asked Questions

To enable 3D secure payment, your website should use a 3D secure payment gateway to integrate into systems and payment settlement. PayCEC is a 3D Secure payment provider that can help merchants activate 3D secure payment in different card payment methods with Visa verification, Master secure code and Amex safekey. Customers are protected by an extra layer of verification such as OTP or biometric authentication or private key.

PayCEC provides 3D payment gateway services for merchants to integrate the checkout platform into their websites to facilitate online card payments. Below steps help you understand the overview of a 3D secure payment process.

  • Step 1: The shopper chooses an item, and adds it to his/her online shopping cart.
  • Step 2: Customer places an order on merchant’s website by clicking the “Proceed checkout” or equivalent button.
  • Step 3: Website redirects to Checkout page of PayCEC and the customer is required to input payment information.
  • Step 4: OTP process - There is an OTP sent to the shopper's mobile phone and the shopper has to input the one-time-password to enable the transaction.
  • Step 5: The merchant submits the order to PayCEC 3D secure payment gateway.
  • Step 6: The PayCEC payment platform securely sends the transaction to the processor.
  • Step 7: The processor verifies and approves the transaction, and routes the transaction to the card association (Visa / Mastercard / American Express).
  • Step 8: The Card Scheme screens and forwards the transaction details to the customer’s bank, which is known as the issuing bank for approval.
  • Step 9: Approval/Denial is sent back to the Card association and processor and PayCEC payment gateway respectively.
  • Step 10: The merchant receives the message “Transaction Approved”, and the fund is deducted from the customer's bank and settled into the merchant’s bank account.
  • Step 11: The merchant gets paid for the sold item, and the shopper has got his/her purchase.

Learn more

The secure payment gateway provides payment services with a high standard of protection in online business. This system carries out transactions and verifies, accepts or declines payments transactions on behalf of a merchant. 

Most secure payment gateways can do this in a matter of seconds by following these steps:

Encryption: A secure payment gateway will encrypt (encode for private use) data for exclusive usage between the seller and the buyer - between the user's browser and the retailer's server.

Request: When a payment processor receives approval from a credit card company or financial institution to proceed with a transaction, it is known as an authorization request.

Fulfillment: Once the payment gateway has received authorization, the website and user interface can move on to the next step.

Payment gateways should ensure that merchants always get paid when a purchase is made, reducing the risk of fraud and credit risk.

3D Secure is used in your everyday transactions. It is quite simple to use 3DS, you just need a 3D secured card and a mobile phone to use 3D Secure. When you open an account at the bank, make sure to give the accurate phone number that you’re using, and 3D Secure is automatically activated for you.

Keep in mind that your card issuer has to provide 3D Secure for this to happen. The famous providers with 3D Secure are: Discover, Visa, Mastercard, JCB, or Amex, etc.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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