Security Features In Online Payment Solutions

By | September 11, 2014

Online payment solutions

If you are planning to start a new online business venture or just want to expand your business online to sell your products and services, you will have to accept online payments. The various online payment methods like credit cards, debit cards, net banking etc., have to be accepted to give the customer an option to pay for the products or services. To help merchants with online payments there are many online payment solutions that are available and companies that offer such services are growing by the day. This gives the merchant the option of choosing and picking an online payment solution that will be beneficial to him and will provide him with various features that will help him conduct his business online. However, there is a very important feature that any merchant has to look into and that is the presence of secure payment processing in the payment solution.

Secure online payment

  • For someone who is looking to take his business online, there are many options available in online payment solutions.
  • With so many options, one can forget the main feature that should be present in the online solution.
  • The security features that are present in the solution have to be looked into closely as it is the most important feature of the entire online payment solution.
  • When payments are made online through credit or debit cards, sensitive data is provided by the customer and therefore is essential to ensure that the data that has been provided is transmitted in a secure manner.
  • Secure payment processing is something that customers will look forward to when they shop online as there have been many cases reported where credit card data have been stolen and illegal purchases made out of them.

Security features to look for in online payment solutions

  • The online payment page will have to be carried out in a secure browser page and they can be identified by looking at the URL in the address bar. If ‘https’ is displayed instead of the usual ‘http’ then it is a secure connection
  • The data that is entered into the website has to be encrypted using SSL Standard or 128 bit Secure Socket Layer and if you see a padlock and key sign in the browser then it is safe.
  • The various components that are involved in the transaction process should accept and transmit only encrypted data and most solutions nowadays do so
  • Credit card companies have additional security features that they have incorporated for online payments like the VbV (Verified by Visa) service

How to identify the security features that the service provider has?

Most of the service providers that offer online payment solutions will provide information about the secure payment processing features available with them. As a lot of importance is given to these features and as merchants are always looking for secure payment processing for their business, there will be priority given to these features while advertising. You can look at the security features list on their website and get in touch with the service provider to know more about what measures are in place to ensure that the data entered by the customer is secure. It is always a good option to go with a service provider who has the necessary security in place as it can build confidence with the customers.

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