Posted on July 22, 2021

Q&A on Online Security with iPay Product Manager, Debbie Majale

By: iPay

The digital space has become a booming platform for businesses for the past one and a half years as many business owners have moved online in response to the COVID-19 restrictions by governments all around the world.

This has provided the opportunity for hackers and fraudsters to try and swindle money and personal information from unsuspecting individuals. 

iPay’s Product manager takes us through what security features both businesses and individuals should look out for when transacting online.

• How can businesses secure their online payments?

This can be achieved by working with a reputable Payment Gateway that is Payment Card Industry Data Security Standard PCI-DSS certified and ensuring that card transactions are processed over 3D-Secure technology (meaning the one who is making the payment needs to enter the Password and OTP before the amount can be deducted from the card holder’s bank account.)

• What does being PCI DSS compliant mean?

PCI DSS means “Payment Card Industry Data Security Standard”. This is the highest security standard certificate in the credit card industry, and having it increases banking safety and security for iPay’s customers. PCI DSS compliance ensure that security is maintained during transaction processing, storing, or transmitting credit card information by adhering to a set of requirements issued by PCI DSS Council an organization that was founded by American Express, Discover, JCB International, MasterCard, and Visa for the purpose of protecting businesses and consumers against theft and fraudulent credit card activity.

 

• How does the PCI DSS feature guarantee security for both the digital platform and the end-user?

The PCI DSS feature guarantees 

• Enhancing and implementing of control measures through regular assessments
• Implementation of data security policy
• Broader view and implementation of compliance aspects
• Protection of card holder personal data

 

• What does iPay's PCI DSS certification mean to its merchants?

iPay has prioritized the security of all its platforms merchants and end users by investing in the PCI DSS feature which makes it possible for the platform’s users to enjoy:

• Enhanced transaction security features
• Protection of Merchant customer card holder details
• Well defined Service Level Agreements to support merchants

• What should one look out for on a digital payment platform to ensure the user's security?

There are 4 key features that one should be able to quickly identify on a payment platform, these include:

• Data encryption via SSL protocol
• Fraud monitoring tools that review transactions
• 3D Secure processing
• PCI DSS Certification

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