According to Forbes, there were 2,365 cyberattacks in 2023, with 343,338,964 victims. These data security breaches are a big problem for companies and consumers alike. That’s why there are rules, regulations, and best practices centered around protecting customers through credit card tokenization and data encryption. Credit card tokenization and encryption shield essential customer payment information from being exposed. Your payment …
Are your Recurring ACH Payments Compliant?
Many consumers prefer to pay large bills in installments through ACH payments rather than a credit card. Offering this option in your business will decrease consumer complaints and increase your overall receivables. But just as with cards, it’s important to ensure the recurring ACH payments you accept are compliant.Understanding Recurring ACH Payment ComplianceComplying with every regulation that applies to your …
A Checklist for Recurring Payment Processing Software
No matter what business you’re in, taking payments brings more regulations you must follow. For instance, companies that use recurring payment processing services need to maintain Regulation E compliance. But how do you know when Regulation E applies to a transaction within your business? How can your payment processing software help?Recurring EFT Payments and Regulation EWhat is Regulation E? It …
Storing Credit Card Information Risks and Best Practices
With so many self-serve and digital payment options available, storing credit card information is an important consideration for businesses. Is your organization storing credit card information safely? Do you know the requirements you need to follow? Learn about risks, requirements and best practices of storing customer credit card information.Why is Storing Credit Card Information a Must for Digital Payments?There are …
How To Prevent Data Breaches: Three Steps
Does your company know how to prevent a data breach? One thing the Equifax and Marriott data breaches (and countless others) have shown is that customer data won’t stay safe if a business isn’t protected. Data breach prevention is an important way to protect your customers and your brand, but it also helps your company remain financially stable. Data breaches …
What is Regulation E Electronic Signature Compliance
Consumer habits are hard to change. Think about when you first were introduced to online banking or online shopping. Were you hesitant? Now, these actions are commonplace. Just like online shopping, electronic signatures have become standard for payment authorizations, loan contracts and medical documents. Companies can take customer communication preferences into account, gather esignatures through a text or email, and …
Payments Compliance: What to Know and How PDCflow Helps
There are many ways businesses must adhere to payment compliance. What’s more, it can get complicated to keep track of the requirements to follow, even though violating this payment processing compliance could lead to litigation or crippling fines. For many companies, the simplest solution is to rely on the software you use to help you reach your compliance goals. Here …
How To Comply with EFTA Regulation E: Legal Experts Explain
Regulation E is a well-known, but often confusing regulation found within the Electronic Fund Transfer Act (EFTA). The EFTA was put in place to protect consumers who make payments via an electronic transfer.What is the Electronic Funds Transfer ActThe Electronic Funds Transfer Act (EFTA) (15 USC 1693 et seq.) of 1978 is intended to protect individual consumers engaging in electronic …
What Does PCI Compliance Mean for your Business?
Do you know what it means if your payment processor has told you they maintain most of the burden for PCI DSS compliance? Does this change the rules your business must follow or what PCI DSS compliance means to you? While a PCI compliant processor might offer features that ease merchant responsibility, you are still expected to take steps to …
How To Take Secure Payments Over the Phone
Many customers still want the option to make a payment or ask questions to a live customer service agent. After all, a conversation with an employee is often the easiest way to resolve an issue. How can organizations take payments over the phone and still keep payment data secure?SURVEY SAYS:“Nearly 7 in 10 respondents (69%) said talking to a live …
6 Main PCI DSS Compliance Goals
Payment Card Industry (PCI) rules were created to ensure businesses are providing a safe digital environment for consumers to make credit card payments. Following these PCI guidelines keeps you in compliance with industry rules and also keeps you and your consumers safe from data breaches. With a larger number of employees now working remotely, understanding the basic PCI goals and …
PCI DSS Compliance Takes Year Round Commitment from Your Payment Processor
When you pay for goods or services online, you expect businesses to follow compliance measures to keep your personal information secure. PCI DSS compliance (Payment Card Industry Data Security Standard) gives consumers this same confidence in your organization. Customers need to know that every time they make a credit card payment, their information is being safely handled. One slip-up in …
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