Payment fraud is organized, businesses should be too

Payment fraud is organized, businesses should be too

Hackers, scammers and other cyber criminals are extremely organized in how they work together, so Shannon Martin, editor of merchantseek.com, said eCommerce merchants need to be extremely well organized themselves to help prevent payment fraud. PCI compliance and code signing digital certificates are two great ways to help keep information safe when online.

"The world of merchant account payment options can be very daunting, especially for smaller merchants, but processors have typically developed a cadre of experts to assist merchants in their respective compliance activities," Martin writes on SC Magazine. "Navigating through these turbulent waters requires experience on a daily level with the variety of attacks that can transpire between the point of sale and the eventual posting of a transaction to a consumer account."

If a breach occurs, the first step should be to help secure the weakened area with a  professional. This person, called a processor, should determine how and why a system was breached and look at ways to fix it. Businesses should so this as soon as they find the breach to prevent future problems.

PCI Central said PCI compliance helps give a business peace of mind while offered decreased risk, protection from fines and easy adoption. There is also a boost in customer confidence from using a solution such as this.