Smooth Online Transactions with Secured Payment Gateway - Jinz Haiggh Blog

Header Ads

Smooth Online Transactions with Secured Payment Gateway

The world is moving towards complete digital payment slowly and steadily. Cashless transactions are attractive to customers because they are considered safer than moving around carrying cash. Credit card and debit card payments had already caught up with the world a long time back. The latest entrant is the online payment gateway system that has added virtual wings to shoppers making them soar high in the air enabling them to order things from the comfort of their homes.

But cashless or digital transactions have challenges too. Challenges in the form of safeguarding private and personal information that a customer is required to share online when filling up the payment page! The reason why it is important for the end user to understand the functioning of a payment gateway and the working of the payment process is that online payments need to be conducted in a secured fashion. The customer should be aware of existing risks and possibilities of him becoming a target of cybercrime.

There are innumerable ways and means of ensuring the same. Certain caution on the part of the buyer or the shopper can go a long way in preventing him from fraudulent online activities.
  1. One good way for the customer to understand if the transaction is happening from a secured website or not is to look for the lock symbol at the starting of the portal address. Equally important is to check the HTTPS letters where the alphabet S symbolizes security. It is called the SSL protocol that stands for Secure Socket Layer.
  2. The 3D Secure feature enables users to create passwords for using their credit or debit cards online. With the secure password, there is an additional level of security added to the payment processing system. Every time the customer uses the said card for settling payments online, he will be prompted to enter the password first. Only upon entering the correct password he will be allowed to proceed further.
  3. Shoppers also need to realize that e-commerce sites will never ask for personal details related to their ID etc. hence any website asking for such information need to be avoided.
It is a good idea to get information on whether the merchant or the e-commerce site is compliant with industry security standards as per rules laid down by the Payment Card Industry Data Security Standards. And if the merchant is working with a third party payment gateway aggregator, then the aggregator needs to ensure PCI level 1 compliances. This information will be mentioned either in the Terms page on the merchant website, or you can get more details on a resource website related to online payment security.

The merchant payment gateway should be working on the tokenization concept. Tokens enable sensitive customer data to be converted into randomly generated characters thereby preventing the data from being intercepted by an unauthorized source. The e-commerce sites also need to incorporate few anti-fraud plans or tools wherein all types of transactions online are scanned manually or technically to slice out fraud related possibilities.
Powered by Blogger.