Credit Card Processing Security

Discussing common security issues which credit card processing customers face during implementation and operation. PCI compliance standards, testing and verification.

How to Detect if a Credit Card is Stolen

Credit card fraud cost businesses $11.27 billion in 2012, according to the Nilson Report, including the cost of lost merchandise and chargeback fees. As criminals have become more sophisticated, businesses are challenged to protect themselves, catching fraud early to avoid costly losses. If businesses can learn to spot a bad credit card number from the […]

Posted in Security

What You Need to Know About Risk Acceptance

Any business that accepts credit cards accepts a certain amount of risks. Chargebacks and fraudulent activity are a natural part of doing business. There are some things businesses can do to minimize those risks, but card issuers accept a small percentage of loss as one of the costs. For some businesses, though, those risks are […]

Posted in Security

What is Data Breach Protection?

Businesses are all too aware of the risk of working in a technology-enabled world, especially with so many data breaches having made recent news. One data breach can damage the reputations of a company and its payment processors, requiring a business to spend years rebuilding trust. In some cases, businesses never recover. According to data […]

Posted in Security

Hazards of Stolen Credit Cards and How to Protect Your Business

Identity thieves create chaos, clearing out victims’ bank accounts and damaging their credit for years. More than 15 million residents fall prey to identity thieves each year with losses costing consumers and businesses more than $50 billion annually. The person with the stolen identity isn’t the only one who suffers. When a thief pays for […]

Posted in ECommerce, Mail/Phone Orders, Retail, Security, Wireless Orders

Keeping Up with Cash on the Go

Mobile credit card readers have given businesses the freedom to accept cards on the go using a tablet or smartphone. Even with this freedom, though, some consumers still prefer to pay by cash. Since setting up a full cash register with a drawer might be unreasonable at a conference or flea market, it’s important that […]

Posted in Business, Retail, Security

Update: Global Payments loses PCI Compliance Status

Global Payments Inc., the company responsible for allowing up to 1.5 million (CreditCardProcessing.net had initially reported the number as 10 million, the original estimate) accounts to be breached has been removed from Visa’s list of PCI compliant processors, though the company is still actively enrolling merchants for their services. Critics of PCI compliance have suggested […]

Posted in News, Security

Up to 10 Million Mastercard and Visa Cards Breached

Mastercard has confirmed that U.S. based payment processor Global Payments Inc. has had a security breach, potentially compromising up to 10 million credit card accounts. The Secret Service has confirmed the incident and is currently investigating. Mastercard has taken immediate steps to minimize the damage, releasing a statement Friday addressing the issue. “As a result, […]

Posted in Business, News, Security

Chip and PIN Credit Card Processing

Chip and PIN credit cards are common in Canada and Europe, but has not yet become popular in the United States due to the technology and expense required to switch from magnetic stripe readers to Chip and PIN credit card processing equipment.  Chip and PIN credit cards are considered more difficult for thieves to steal […]

Posted in Business, Security

EMV Chip-Based Credit Cards Coming to the US

The credit card industry overseas uses EMV technology to reduce fraud, and the technology is slowly starting to make it’s way to the United States.  EMV cards store credit card data on a computer chip rather than a magnetic stripe, making them more difficult to hack into than cards using the traditional magnetic stripe. The […]

Posted in News, Security

Will Your Customers Data be Safe When They Pay You With Smartphones at the Checkout Line?

Mobile payments or mobile wallets are being considered the future of credit card payments. Instead of swiping a card at the register, customers will “swipe” their smartphone to make a payment.  Actually, the smartphone payments work similar to the gas station cards that let you wave it or tap it to a special spot on […]

Posted in Security