How Secure Payment Processing Gateways Protect You
The payment gateway is Level 1 PCI-DSS certified, the highest level of payment processing security available. PCI-DSS is an acronym for Payment Card Industry Data Security Standard which is a set of requirements which ensure that all companies that process, store or transmit credit card information maintain a secure environment.
Using a PCI-DSS certified payment gateway frees you from much of the responsibility for PCI compliance. For example, rather than storing card information, the responsibility for PCI compliance is offloaded to the payment gateway.
Sensitive payment data is converted to “tokens” using military grade encryption. The tokens can be used for either one-time or recurring payments. For merchants with recurring billing models, the tokens are stored in the secure vault inside the payment gateway and used to process the recurring transactions.
This eliminates the need for you to store or transmit sensitive card information. Transactions are processed safely and securely through the payment gateway. Keeping you compliant with PCI-DSS requirements.
The payment gateway also eliminates your risk and responsibility for data breaches, which can be devastating to businesses. Data breaches where sensitive payment information is compromised are increasingly common, as seen in the number of news reports about the problem. Using a payment gateway is the easiest way to protect your business from loss, expense, and negative publicity.
Another benefit of a payment gateway service is reducing or eliminating costs of managing payment processing systems in-house. The payment gateway is easily integrated with accounting systems and other platforms for exchange of data. Productivity is increased while processing risk is eliminated.