Secure Online Payments
Accepting online payments is becoming a requisite for businesses thanks to the pandemic.
These unavoidable circumstances have demanded many merchants to explore the digital possibilities for their businesses and services and accepting online payments is one of them.
Today, with new and innovative online payment solutions almost all businesses have started accepting online/digital payments.
But with an increase in these applications or solutions, there is a fleeting risk of data breaches and frauds.
When dealing with online shopping, customers inevitably rely on technology to protect their personal and financial information.
It is normal, for them to be concerned about these online payment methods as most of them include card details, bank details, and other personal information.
If at any point (while doing online transactions) customers think that the method or online payment solution is not safe they might cancel the purchase.
This indeed is very bad for any business, as it not only causes cart abandonment but also can be the reason for the customer not to shop from the same business.
To avoid this, and to ensure your customers that their personal and financial details are protected and it is safe to do online transactions, merchants need to carefully choose a safe and secure online payment processing solution.
So, as a merchant how will you ensure that you can offer safe and secure online payments and checkout for your customers?
What should you look in the online payment solution that enables safer and secured online transactions?
PCI DSS
PCI DSS is a set of data security guidelines, regulations, and standards to ensure safe online transactions.
It centers around how to store, process, and transmit cardholder data. Developed by major credit card companies, it sets the requirements to enhance the security of customers. Main goals of PCI DSS are,
To build and maintain a secure network
To protect cardholder’s data
To monitor network regularly
To maintain and update the security policy
PCIDSS inspired customer loyalty, it strengthens customer relationship and builds brand reputation.
It improves the security system and prevents security breaches and frauds.
3DS
3DS or 3D secure is an authentication protocol that requires to be completed with an additional verification step during the payments.
It adds an extra security layer in the form of a password or an OTP to protect cardholders against unauthorized use of their cards.
Along the line, the merchant has to make sure that the payment processing solution follows customer data protection rules and offers a fraud and risk management module.
How Lyra can accompany you to offer secure and safe online payments?
Lyra is an established leader in securing e-commerce and proximity payments since 2007. Working in a variety of sectors like payment gateway, banking solutions, white label solutions, etc, Lyra enables highly secure online payment acceptance.
Lyra’s solutions and services are meticulously tested and proved across the globe making them well acknowledged.
Lyra ensures maximum security with regard to sensitive cardholder data.
All of Lyra’s solutions are PCI DSS compliant and are regularly audited.
Lyra is also equipped with the secured process and secured routing for payment terminal flows.
Lyra offers a fraud and risk management module. Lyra’s advanced risk assessment module systematically follows authorization protocols for all payment attempts and requests sent to the cardholder’s bank.
It offers reinforced security by minimizing the risk of outstanding payments by rejecting transactions considered fraudulent.
The flexibility of the modules enables customization with which the merchant can define and set preventive actions depending on the level of risk.
Lyra Network also implements the following security actions,
Information Systems Security Policy;
Secure servers and data backup;
Highly secure hosting centers;
Highly secure firewalls;
Highly available servers;
File transfer encryption;
Protection by authentication;
Restrictive default permissions;
Database backup procedures.
So, if you want a safe and secure payment processing solution, Lyra is the way to go.
Get on board with the fastest time with Lyra and enjoy the stressless online payment processing.
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