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Whether small or big, your online business is always susceptible to fraud or data breaches. As a report suggested last year, cyber attacks don’t discriminate. Security rules and regulations have thus become more strict over the years and cumbersome for many businesses. PayGate is one of those payment services that sits on the right side of the security fence that wants to simplify this aspect of running a business.
Quite often overlooked, Harvey explains why having a secure online payment solution is necessary. Businesses have to adhere to certain standards and practices specified by the Payment Card Industry Data Security Standard (PCI-DSS). Although effective in lessening cyber attacks, compliance with the PCI standards is said to be onerous and an expensive chore.
An online business must be able to accept credit card payments if it’s going to be successful says Harvey. The safest way to do so is to have a hosted payment page with a payment services provider that is itself fully PCI-compliant. Not only is your customers’ data in safer hands, your business is not directly responsible for it.
Managing Director of PaygGate Peter Harvey notes how vulnerabilities of an online presence and the hassle of security regulations might hamper or burden a business and could eventually drive away customers. “If it gets too risky for merchants to accept credit cards, card holders will lose out on the convenience of online shopping.” Established in 1999 PayGate focuses on providing effective, turnkey payment solutions for businesses.
“Maintaining card data security in compliance with the PCI standards is increasingly going to be a condition of doing business online,” says Harvey. “Merchants should approach their payment gateways to find out exactly how they are affected and what steps they should take to protect their business.”