Payments
May 21, 2024

Secure Card Payments: A Complete Guide for Online Transactions

Learn how to accept credit card payments securely online with practical tips and best practices. Discover how Tab can help you streamline transactions and protect sensitive data, ensuring a safe and seamless payment experience for your customers.

Choosing a Secure Payment Platform

Selecting the right payment platform is the first place to start to secure online transactions.

When it comes to choosing a payment platform, you should consider:

  • Reputation: Research well-known and reputable payment platform providers known for their security features and reliability. Look for providers with a track record of protecting customer data and preventing fraud.
  • Encryption Protocols: Look for encryption protocols such as SSL/TLS to safeguard sensitive data during transmission. These protocols encrypt data as it travels between the customer's browser and the payment platform, making their card information unreadable to unauthorised parties.
  • Compliance: Ensure the payment platform complies with industry standards like PCI DSS (Payment Card Industry Data Security Standard) to protect cardholder information. PCI DSS outlines security requirements for organisations that handle credit card transactions, including requirements for network security, encryption, and access control.

Implementing Robust Security Measures

Protecting against fraud and data breaches is incredibly important when accepting credit card payments online. In general, you should not store customer payment details - leave this to your payment provider! Your payment provider should have strong protections in place for this, as discussed above.

No matter which payment provider you choose, payment fraud is a concern for any card payment - especially online payments. Your payment provider will have several measures in place, but there are some key security measures that can only be taken by you when the customer is with you.

Here are some key security measures to implement:
Things you can do

One of the best things you can do is to take a copy of the customer's ID for your records. You might already do this when your customer checks in, but if not, you could consider doing it for your high value payments.

When the customer arrives, you should also:

  • Make sure the name on the ID matches the cardholder name on the card
  • Check the photo on the ID
  • Ensure you can contact the customer and cardholder directly (e.g. email, phone number)
Things to watch out for

There are a few specific behaviors to watch out for too, which you should always discuss with your payment provider before taking the payment. For example:

  • If the customer asks to be refunded to a different card or bank account
  • If the customer asks for an unusual payment arrangement - for example, asking you to make a payment to another business for them, or asking for someone else to make the payment for them

If something seems suspicious or you have any concerns, you should contact your payment provider before taking any action to get advice.

Enhancing User Experience and Trust

Balancing security with user experience is key to building trust and loyalty among online customers.

Here are some strategies for enhancing user experience and trust:

  • Optimised Checkout Process: Optimise the checkout process for simplicity and speed to minimise cart abandonment rates (this is when a customer wants to pay but finds it too difficult). A good rule is to have as few clicks as possible between a customer deciding to pay and finishing the payment, so you should remove any non-vital steps and fields from the checkout process to make it as frictionless as possible for customers.
  • Trust Seals and Security Badges: Display trust seals and security badges prominently on your website to reassure customers of a safe transaction environment. Trust seals indicate that your website has been verified by a third-party security provider and meets certain security standards.  
  • Transparent Communication: Provide transparent communication about security measures and privacy policies to instil confidence in your brand. This might be as simple as telling them the payment platform you've chosen, or if you have to store other customer data then make sure you have a robust Privacy Policy that you can clearly communicate to customers to let them know how their data will be used and protected.

Conclusion

Accepting credit card payments online can unlock new opportunities for businesses, but it also requires a commitment to security and trust. By choosing secure payment platforms, being aware of the in-person security measures you should be taking, and prioritising user experience, businesses can safeguard transactions and foster long-term relationships with customers.

Looking to elevate your online payment security?

Ready to elevate your online payment security? Explore how Tab can help you streamline transactions and protect sensitive data with its secure payment solutions. With Tab, you can confidently accept credit card payments online while prioritising the security and satisfaction of your customers.

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