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Protect your risk, compliance, and operations — Trusted outsourcing for excellence. Should e-commerce companies outsource payment fraud detection? Absolutely. Outsourcing offers expert security, cost-efficiency, and the latest technology, ensuring safer transactions and boosting customer trust. Read more: https://hubs.li/Q02zCnK90 #Enshored #OutsourcingFraudDetection #Ecommerce

👉 Dive into the essentials of PCI DSS (Payment Card Industry Data Security Standard) and understand its critical role in securing payment card transactions. It is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. 👉 Established in December 2004 by the PCI Security Standards Council (PCI SSC), which includes major credit card brands like Visa, MasterCard, American Express, and Discover, PCI DSS aims to safeguard cardholder data from breaches and fraud. Key Points Covered in the Blog: ✅ Introduction to PCI DSS: What it is and why it was established. ✅ Goals of PCI DSS: Protecting cardholder data through stringent security measures. ✅ Key Components: Security protocols, regular monitoring, and network security. ✅ PCI DSS Requirements: Detailed overview of the 12 requirements that businesses must follow to maintain compliance. ✅ Importance for Businesses: Ensuring compliance for all companies that accept, process, store, or transmit credit card information. ✅ Role of PCI SSC: The collaboration between major credit card brands to develop and enforce these standards. 💡 Stay informed on how your business can maintain a secure environment and comply with PCI DSS to protect your customers and your reputation. Read the full blog here to ensure your organization is PCI DSS compliant. https://lnkd.in/gvVeUT2E #instantpay #PCI #Compliance

https://lnkd.in/dQD_fa-T After thorough consideration and review of industry stakeholder feedback, PCI SSC is making the following updates to SAQ A: • Removal of PCI DSS Requirements 6.4.3 and 11.6.1 for payment page security, and Requirement 12.3.1 for a Targeted Risk Analysis to support Requirement 11.6.1. • Addition of an Eligibility Criteria for merchants to “confirm their site is not susceptible to attacks from scripts that could affect the merchant’s e-commerce system(s).”

A Guide to Online Payment Security for Businesses Online shopping and contactless payments have transformed how we buy and sell. However, with these innovations comes the risk of fraud, which businesses need to guard against to ensure growth. What is Payment Security? Payment security protects financial transactions from fraud and unauthorized access. It's essential for businesses to safeguard customer data, comply with regulations, and maintain trust. As eCommerce grows (expected to surpass $8 trillion by 2027), payment security becomes increasingly crucial to prevent fraud and protect both businesses and customers. Payment Security and PCI Compliance The Payment Card Industry Data Security Standard (PCI DSS) is a global standard for securing payment data. Businesses handling card data must adhere to these standards to prevent fraud. Companies must meet one of four compliance levels, ranging from minimal self-assessment (Level 4) to strict external audits (Level 1). Why Secure Payment Processing Matters Fraud Prevention: Secure payment systems use algorithms and real-time monitoring to detect fraudulent activities like identity theft or money laundering. Reputation Protection: Data breaches can damage a business’s reputation and lose customer trust. Secure systems protect your brand. Chargeback Reduction: Secure payments minimize chargebacks, which happen when customers dispute transactions, costing businesses money and resources. Types of Payment Security Encryption: Protects sensitive data using keys to lock and unlock information during transactions. Tokenization: Replaces payment details with tokens, reducing the risk of exposure. Authentication: Verifies user identity before granting access to payment systems. SSL Protocol: Encrypts website communication to secure payment pages. AVS, 3DS, CVV: Additional security checks, including address verification and extra authentication steps. Conclusion As fraud risks evolve, payment security methods must also adapt. Following PCI standards and using encryption, tokenization, and authentication will help businesses prevent fraud, maintain customer trust, and ensure long-term eCommerce success. #PaymentSecurity #Ecommerce #FraudPrevention #PCICompliance #DataProtection #BusinessSecurity #SecurePayments #OnlineShopping #DigitalPayments #CustomerTrust

🌍 𝗣𝗖𝗜 𝗗𝗦𝗦 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗖𝗮𝗿𝗱 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗗𝗮𝘁𝗮 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐂𝐈-𝐃𝐒𝐒? PCI-DSS (Payment Card Industry Data Security Standard) is a security standard set in 2004 by Visa, MasterCard, Discover Financial Services, JCB International and Amex. The compliance plot aims to secure credit and debit card transactions against data theft and fraud, directed by the Payment Card Industry Security Standards Council (PCI SSC). 𝐏𝐂𝐈-𝐃𝐒𝐒 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 PCI certification guarantees card data security at your business through a set of regulations established by the PCI SSC. These include several usually known best methods, such as: - Installation of firewalls - Encryption of data transmissions - Use of anti-virus software 𝐏𝐂𝐈 𝐃𝐒𝐒 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐥𝐞𝐯𝐞𝐥𝐬 PCI compliance is classified into four levels, based on the annual number of credit or debit card transactions a business processes. The division level determines what an enterprise requires to do to endure compliance. 𝗟𝗲𝘃𝗲𝗹 𝟭: Fits to merchants processing more than six million real-world credit or debit card transactions yearly. Administered by an authorized PCI auditor, they must go through an internal audit once a year. Plus, once a quarter, they must submit to a PCI scan by an Approved Scanning Vendor (ASV). 𝗟𝗲𝘃𝗲𝗹 𝟮: Fits merchants processing between one and six million real-world credit or debit card transactions yearly. They're exacted to complete an assessment once a year, practising a Self-Assessment Questionnaire (SAQ). Plus, a quarterly PCI scan may be necessary. 𝗟𝗲𝘃𝗲𝗹 𝟯: Fits merchants processing between 20,000 and one million e-commerce transactions yearly. They must perform an annual assessment practising the relevant SAQ. A quarterly PCI scan may also be demanded. 𝗟𝗲𝘃𝗲𝗹 𝟰: Fits merchants processing fewer than 20,000 e-commerce transactions yearly or those that process up to one million real-world transactions. An annual assessment using the relevant SAQ must be performed, and a quarterly PCI scan may be required. For more info check comments 👇 𝗣𝗖𝗜 𝗗𝗦𝗦 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗻𝗼𝗻-𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗯𝗲𝗶𝗻𝗴 𝗣𝗖𝗜 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝘁 𝗣𝗖𝗜 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 & 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗴𝗮𝘁𝗲𝘄𝗮𝘆 #PCI #Fintech #epayments #Info

🔹 Important Update on SAQ A for PCI DSS v4.0.1 🔹 The PCI Security Standards Council (PCI SSC) has introduced significant changes to Self-Assessment Questionnaire A (SAQ A) based on industry feedback for PCI DSS v4.0.1. 🔹 What’s Changing? ✅ Removal of Requirements 6.4.3 and 11.6.1 regarding payment page security, and Requirement 12.3.1 (Targeted Risk Analysis). ✅ New Eligibility Criteria: Merchants must ensure their e-commerce site is secure against script-based attacks that pose security risks. 🔹 Timeline & Transition 📌 Two versions of SAQ A are in effect: 🔹 October 2024 version – Phased out by 31 March 2025 🔹 January 2025 version – Currently available, mandatory as of 31 March 2025 (aligned with PCI DSS v4.0.1 requirements). These updates maintain the core security standards of PCI DSS while striving to harmonize security and practical implementation, especially for merchants outsourcing payment functions to trusted third parties. 📢 Next Steps: Merchants are advised to engage with their compliance enforcement entities (brands, acquirers, payment facilitators) to understand validation requirements and ensure adherence to the revised SAQ A criteria. 🔗 Learn more: https://lnkd.in/dyPQ4NWf Prateek Rathi Pulkit Sharma Hemant Singh #PCIDSS #SAQA #EcommerceSecurity #Payments #Compliance #PCI_SECURITY

HOW LIKELY IS YOUR LOYALTY PROGRAM GOING TO BE TARGETED BY ROBBERS? A recent Forbes article by Rupesh Chokshi highlights the growing risk of API abuse, particularly in the context of #customerloyalty and rewards programs, which have become prime targets for cybercriminals. APIs, essential for modern online services, can be exploited to access sensitive #data, such as account balances and personal information, allowing attackers to commit #fraud. Loyalty programs, referred to as "accidental banks," store valuable data that attackers can steal or manipulate. Real-world examples illustrate how attackers use API vulnerabilities to gain unauthorized access to accounts, using methods like credential stuffing and social engineering. For instance, one company's loyalty program was defrauded of over $100,000 in a single day due to API weaknesses. In another case, attackers accessed sensitive customer information through unauthenticated APIs and used that data to bypass security measures. ❗ The article emphasizes the need for organizations to gain visibility into all their APIs, especially those handling sensitive data, and ensure they are secured. API security requires continuous monitoring and proactive measures, such as testing new APIs, retiring unused ones, and employing AI- and ML-based tools to detect suspicious behavior in real time. ❗ This article underscores the critical importance of securing APIs, particularly as digital services expand and more sensitive data is handled online. Loyalty programs, often overlooked as potential targets, are increasingly vulnerable due to their inherent value as "digital currency" and less stringent security compared to traditional financial institutions. The real-world examples are alarming, showing just how lucrative and damaging these API attacks can be. For companies managing customer data, like those in loyalty programs, securing APIs must be a priority. 📍 The key takeaways from the article are clear: visibility, continuous vigilance, and real-time monitoring are essential to defend against API abuse. These recommendations are particularly relevant for organizations focused on data-driven customer experiences, where protecting customer trust is vital. #weloveloyalty, #welovedata https://lnkd.in/eKHnn_33

Part 6: The Role of Transparency and Security in Payment Options In the realm of e-commerce and online transactions, the role of transparency and security in payment options cannot be overstated. 💳💻 Secure payment processing is crucial in safeguarding sensitive financial information and preventing fraud. Encrypted connections and compliance with industry standards such as Payment Card Industry Data Security Standard (PCI DSS) are essential in ensuring that customers' payment details are protected from unauthorized access. Implementing multi-factor authentication and tokenization techniques also add an extra layer of security to payment processing systems. Moreover, transparency in fees and policies plays a significant role in building trust with consumers. Hidden charges or unclear refund policies can erode confidence in a brand and lead to abandoned purchases. By clearly communicating all costs associated with a transaction and providing easy access to terms and conditions, businesses can establish credibility and foster long-term relationships with customers. Best practices for ensuring payment security include regularly updating security protocols, conducting vulnerability assessments, and monitoring transactions for any anomalies. Using fraud detection tools and implementing strict access controls to limit employee access to sensitive data are also recommended to mitigate the risk of data breaches. Additionally, offering secure payment options such as two-factor authentication and biometric authentication can further enhance the protection of customer information. In conclusion, prioritizing transparency and security in payment options is essential for building a strong foundation of trust with consumers and safeguarding their sensitive financial information. By implementing best practices in secure payment processing and maintaining clear communication about fees and policies, businesses can not only protect their customers but also establish a reputation as a trustworthy and reliable vendor in the online marketplace. #PaymentSecurity #SecureProcessing #TransparencyInFees #ConsumerTrust

Part 6: The Role of Transparency and Security in Payment Options In the realm of e-commerce and online transactions, the role of transparency and security in payment options cannot be overstated. 💳💻 Secure payment processing is crucial in safeguarding sensitive financial information and preventing fraud. Encrypted connections and compliance with industry standards such as Payment Card Industry Data Security Standard (PCI DSS) are essential in ensuring that customers' payment details are protected from unauthorized access. Implementing multi-factor authentication and tokenization techniques also add an extra layer of security to payment processing systems. Moreover, transparency in fees and policies plays a significant role in building trust with consumers. Hidden charges or unclear refund policies can erode confidence in a brand and lead to abandoned purchases. By clearly communicating all costs associated with a transaction and providing easy access to terms and conditions, businesses can establish credibility and foster long-term relationships with customers. Best practices for ensuring payment security include regularly updating security protocols, conducting vulnerability assessments, and monitoring transactions for any anomalies. Using fraud detection tools and implementing strict access controls to limit employee access to sensitive data are also recommended to mitigate the risk of data breaches. Additionally, offering secure payment options such as two-factor authentication and biometric authentication can further enhance the protection of customer information. In conclusion, prioritizing transparency and security in payment options is essential for building a strong foundation of trust with consumers and safeguarding their sensitive financial information. By implementing best practices in secure payment processing and maintaining clear communication about fees and policies, businesses can not only protect their customers but also establish a reputation as a trustworthy and reliable vendor in the online marketplace. #PaymentSecurity #SecureProcessing #TransparencyInFees #ConsumerTrust

🔐 The best way to reduce the risk of data breaches or fraud is by ensuring you're PCI compliant. ✅ Taking the first step by understanding the PCI compliance process is key! Learn everything you need to know about PCI Level 1 Compliance here: https://loom.ly/BwUQdsg #PCICompliance #FraudPrevention #MerchantServices #Payments #BusinessOwner #eCommerce