Online shopping is becoming increasingly popular year after year, as more products and services are sold through the web. With the growing popularity of online shopping, the risks associated with the security of personal and card data also increase. Why is it important to understand how sensitive data is protected? Because this data is crucial for financial transactions and customer identity. If you are a buyer, in this blog I want to help you understand how data is securely stored and protected so that you no longer feel discomfort and fear during online card payments. If you are a merchant, I want to remind you that with CorvusPay you don’t have to worry about cards – thanks to their service, you don’t come into contact with them at all.
Why is the security of Card Data important?
When a customer pays online, they enter their card details into the payment form. This includes the card number, expiration date, and security code. If this information falls into the wrong hands, the consequences can be catastrophic. It can lead to theft from the customer’s account, card misuse, and even identity theft. That’s why secure storage of this data is of paramount importance. Therefore, it is recommended for web merchants to choose certified Internet Payment Gateways (IPG) partners for their card payments, such as CorvusPay.
PCI DSS – the golden standard of security
The payment card industry understands the critical importance of protecting card data, hence the establishment of the Payment Card Industry Data Security Standard (PCI DSS). It is a set of strict rules applied to all companies processing card data. PCI DSS sets high standards for security, including physical, technical, and organizational measures, to ensure secure data storage and processing. Customers should always prefer web shops that adhere to these standards or use services from certified IPGs for payments. Certified IPGs are the only ones authorized to manage, transmit, and store card data and provide functionalities based on card data storage, such as Subscriptions or Wallets.
Both web shops and their customers are completely secure when conducting transactions through CorvusPay. Since 2012, we have had a PCI DSS certificate, regularly renewed every year with strict regulatory reviews. Recognized as a secure partner, over 3500 web shops have chosen us. More than half of the transactions passing through our system are based on stored card data.
If you are an online buyer, here’s what I advise you to do:
- Prefer web shops that use CorvusPay – they are a well-established player in payments. If you have to buy from a shop using another IPG, make sure it is somewhat familiar to you.
- Monitor your card statements in order to quickly notice any irregularities.
- Protect your online accounts with strong passwords and two-factor authentication.
- Consider using subscriptions and wallets for even faster and more secure payments.
Secure storage of card data during online shopping is crucial for protecting your finances. Proper data management and choosing secure payment methods are steps toward a more peaceful and secure online experience.
And a few tips for web merchants:
- Choose CorvusPay as your IPG partner – they are my trusted companions, I know them inside out, and they are proven to be the best and most secure.
- Regularly check your web shop to ensure that malicious software for data theft is not installed before transferring to CorvusPay.
- Follow some security-related portals; you can always pick up some useful advice.
- And of course, keep following me 🙂
Pay freely, live freely! Regards,
Edgar, your partner in flight