Many merchants do not realize that a gateway has many tools to protect against fraud. And also helps prevent internal security breaches in payment processing by allowing employees to access only those functions necessary to perform their jobs.
Your first level of defense is to enable the fraud-fighting tools in your gateway.
There is often a small transaction fee assessed for advanced fraud protection. Still, it's a small expense in exchange for a big return. Automated tools are highly effective in preventing and managing fraudulent transactions.
In addition, add chargeback prevention and mitigation services. These help reduce risk from "friendly fraud".
Yet, merchants must also take great care in protecting security from the inside of the the business operations as well.
Most businesses simply do not have the expertise or budget to adequately protect themselves from the ever increasing risks of security breaches. Therefore, companies are outsourcing security protection to outside vendors.
It’s vital to remember that ultimately security protection responsibility lies with the company, not the outsourced vendor. If and when security breaches occur it, the company bears the consequences.
Consider the following when moving to security outsourcing.
In today's world, fighting fraud is more important than ever. Use your payment gateway as your first line of defense against fraudulent transactions. And tighten internal security to further protect your business.
How are you protecting your business against fraud?
Contact firstname.lastname@example.org today