The digital payments industry now processes more than $4 billion worth of transactions yearly in credit cards, e-transfers, online payments, and gift cards. Cybercriminals are taking notice, and fraud is rising as attackers seek ways to infiltrate corporate networks and steal consumer payment data. From effective security service for credit cards to critical oversight of digital-only transactions, payment industry organizations need security tools and solutions that help them meet existing challenges and stay ahead of emerging threats.

Evolving Landscape
Consumers now expect ease of use and security across all payment types. In response, payment industry organizations must be prepared to support transactions on demand by striking a balance between simplicity of action and security of payment data. For example, organizations must leverage the SSL protocol to encrypt all payment information flowing to and from payment portals. In addition, companies must now consider adopting two-factor authentication using tools such as fingerprints or SMS codes to improve security without impacting transaction speed. 

What’s Next for Payment Data Security?
Payment security is dynamic, and attackers are constantly looking for new ways to bypass security measures or compromise payment sessions. Our firm is committed to helping businesses prepare for the next iteration of payment data security with cybersecurity, IT auditing, risk assessments, and audit preparation services. 

Meeting compliance requirements such as the Payment Card Industry Data Security Standards (PCI DSS) is critical to ensuring that transactions are correctly handled, encrypted, and completed. We can help your organization meet this continually evolving credit card security compliance standard. PCI DSS v4.0 is here, and you have a big transition ahead. Assess your security posture and PCI compliance today. 

Our firm is committed to assessing adequate security controls of clients’ sensitive data and the IT environments that reduce total risk and enhance long-term defense by providing cybersecurity, IT auditing, risk assessments, and audit preparation services.