How Safe Are Digital Payments Through Phones?

Florence Carpenter

eCommerce shops carry thousands of Personal Identifiable Information (PII) — from customer names to card information. Considering the rise of cyber threats, however, sellers should double-check their payment gateway’s overall security. Several businesses have gone bankrupt because of breaches and fraudulent chargebacks. Do not skimp on payment protection.

Processing digital payments via reputable processors is typically secure. Their payment gateways have SSL certificates protecting in-transit data and firewalls blocking potential hackers. Moreover, processors routinely scan their systems. Well-known merchant service providers consistently bolster their security systems to combat the most modern cyber threats.

Do you find yourself on the fence between the dozens of mobile payment processors? Processing Card can help! Read our in-depth list detailing the most reliable, well-known mobile processing systems on the market.

Factors That Might Affect Your Payment Processing Security

Cybercriminals do not discriminate. However, they commonly choose their victims based on the following factors:

  • Business Tenure: Startups and small businesses generally have weaker security systems.
  • Chargebacks and Refunds: The more chargebacks you get, the higher your risk of getting fraudulent transactions.
  • Payment Method: Online payments are often riskier than in-store swiped transactions.
  • Transaction Origin: Processing overseas payments poses more risk than authorizing local transactions.

While payment processors typically have secure systems, you should still invest in a private security system. Remember: cybersecurity threats increase as you get more customers.

Dozens of SaaS companies offer out-of-the-box security solutions. In most cases, these systems require minimal to no installment and maintenance efforts. Just let the program do its job.
Can SMBs accept mobile payments from overseas customers? Processing Card says yes! Check out our comparison review of the best international mobile credit card processors for SMBs.

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