Digital payments are increasingly becoming the preferred method consumers choose to pay bills with globally. This is especially so during the current global health concerns which has prevented many customers from visiting brick and mortar locations to make a payment or purchase goods.
PCI compliance is more important than ever as companies seek ways to protect payment card data amid the COVID-19 pandemic. The Payment Card Industry Standard Security Council (PCI SSC) has stringent security standards for payment processing. These PCI compliance regulations are “best standards” for payment processing companies who must incorporate them to ensure consumer data protection.
The PCI SSC recommends these measures to help keep client data safe.
#1. Small merchants should not store card data. You can protect customer’s card data by not writing payment card details down but rather entering them directly into a secure terminal.
#2. Use strong passwords. One of the top methods cyber criminals use to breach a customer’s data is by gaining access through weak passwords. A password should be strong and not one easily guessed by cyber criminals. Passwords should also be updated regularly.
#3. Keep software and patches up-to-date. Outdated software is an invitation for a cyber criminal to breach customer data. Frequently updating software and installing essential security patches provided by PCI approved scanning vendors will help keep security breaches to a minimum.
#4. Use strong payment card data encryption. Employing proper encryption methods such as point-to-point encryption will prevent people who do not have a key from reading data stored and transmitted over a network.
#5. Secure remote access. Vendors should only be able to access your system during approved times. Limit the use of remote access by vendors and disable remote access when not in use. Multi-factor authentication will also aid in protecting payment data.
#6. Configure firewalls properly. Avoid unwanted network and system traffic by properly configuring firewalls. This will help prevent unauthorized network access.
#7. Be aware of phishing scams. Hackers can gain access to payment card data through links contained in emails that may look legitimate. Stay vigilant and aware of these phishing scams to keep customer data safe.
#8. Choose trusted service partners. Only choose service providers who adhere to PCI DSS standards and who are PCI DSS compliant.
Richmond Financial Services takes payment card data security very seriously. We provide next generation secure payment processing services for the heating fuels industry including electronic recurring payments. Contact us to learn more about all our payment processing solutions.
