Secure payment gateways are an essential component of selling and shopping online. They keep you and your customers safe from fraudulent activity. However, many of us don’t always understand how they do so or what a payment gateway is. In this article, Macropay reviews how payment gateway security is an incredibly important feature of doing business online and accepting client payments.
What is a Payment Gateway?
A payment gateway is a type of technology mainly used to accept credit or debit card payments. This technology is used both by physical card readers in stores and also by online merchants to take payment for goods and services from many alternative online payment methods.
Payment gateways are customer-facing interfaces that take consumers’ payment information and verify their legitimacy, and Macropay understands this is especially important for your cybersecurity.
It is a key component of payment security and electronic payment processing systems, and is responsible for sending customer information to financial institutions where the transaction is then processed.
The infrastructure of a payment gateway will depend on whether it exists in a card reader in an in-store setting or is responsible for handling online payments through websites. When it comes to online payments, Macropay can help you through this process.
The Ways a Payment Gateway Can Protect Your Business
Sensitive account information is encrypted and safely stored in secure servers. Gateways encrypt data using SSL (Secure Sockets Layer) before sending it through the card network.
The customer’s card information is scrambled and coded to make it extremely difficult for fraudsters to access. This means that the customer is protected, and you avoid any possible ramifications.
PCI compliance is a security-focused checklist designed to protect your and your customers’ security and minimize the possibility of fraud. All organizations are responsible for their own PCI compliance if they wish to accept and process card payments. Therefore, it is imperative to formulate this for your own business.
Protects from Fraudulent Customers
Not only do payment gateways protect your customers from fraudulent activity, but they can also protect you from individuals trying to scam your business through online payments for information. This is even more important when it comes to cybersecurity, as that is where the bulk of this offense occurs.
Macropay helps protect businesses from closed accounts, expired cards, and insufficient funds.
Payment gateways ensure that merchants receive online payments from customers at the time of payment so that they do not need to worry about the possibility of fraud or scammers.
Protect Your Business Today with Macropay
Payment gateways are an essential feature of our modern world and digital economy. They provide us with the safety and security needed to make and receive legitimate transactions.
As technology progresses, these systems become more sophisticated in a continued attempt to ward off fraudulent transactions and improve our cybersecurity. Working with Macropay will give your business a competitive advantage with increased security and safety while handling payments from your clients.