No matter how careful you are, everyone is vulnerable to a cybersecurity attack. In fact, attacks against e-commerce applications are by far the leading cause of breaches in the retail industry. Now that the entire world is using credit more for contactless payments, it’s very important to make security one of your top priorities. Damage related to cybercrime is projected to hit $6 trillion annually by 2021.
As a payment service provider, Segpay is at the forefront of data security and protecting sensitive information from unauthorized access is our #1 priority. It requires us to be diligent in the processes we put in place and vigilant in using state-of-the-art tools, and techniques to stay one step ahead of hackers.
Preventing cyber attacks isn’t easy. Each year, Segpay must go through a stringent Level 1 Payment Card Industry (PCI) compliance audit in the U.S. and E.U. This audit helps us protect merchants who use our services and is required by our major credit card partners.
We realize that the average online merchant might not have the resources to protect their site from potential cybersecurity attacks on their own. That’s why many turn to third parties or rely on their payment processors to ensure credit card data is secure. However, there are some things you can do yourself to help protect your business.
3 Tips to Increase Your Subscription Site’s Security
Prioritize Security
It’s important to establish security measures for your company. This goes beyond hiring the right employees; you need to be aware of security threats and invest in the right tools to build a safety barrier.
An important tool and one many processors use is a content delivery network (CDN), a geographically distributed group of servers working together to provide the fast delivery of internet content. The CDN adds a layer of protection –– or another locked door to pass through –– on all transactions conducted through a specific company-based portals or other internet content like HTML pages, JavaScript files, stylesheets, images and videos. With Segpay, customers are provided this solution in a Merchant Portal, which also offers online reporting for a clearer view of what’s happening. The fast delivery of internet content allows for the quick transfer of assets, adding security barriers and a higher level of security. You can also use a web application firewall (WAF), a set of rules that protect data by filtering and monitoring traffic between a web application and the internet.
Keep Tight Standard Operating Procedures
Dual-factor authentication (DFA) isn’t just for logging in to a bank account. It’s something you can use across an entire company and involves a two-step authentication process. For example, when you log into your bank account, the request for an additional code or password appears going beyond presenting a username and password. This provides an additional layer of strength and stability.
Security training is important, too. If you are up to date on what’s going on, you can find out and share important information early and be alert for what malicious cyber activity to watch out for. You can access this type of information through the Cybersecurity and Infrastructure Security Agency website. They provide national cybersecurity system alerts highlighting incident reports, vulnerabilities and announcements.
Mindful Monitoring
It’s important to take time and look at the full picture of your company’s infrastructure, health and top security issues proactively and know how to properly manage cardholder data (CD). This includes any personally identifiable information (email address, IP, residence, name) associated with a person who has a credit or debit account. One of the main goals of PCI Data Security is to protect that cardholder data, how it’s processed, stored and transmitted by merchants.
A simple step you can take is to make sure all your software and hardware security updates and patches are up to date. These can ensure that a device or application has the recommended requirements to avoid malicious activity. Also, review your server logs to make sure all data is being passed through your system correctly. And be sure to monitor all third-party software passing through your site, including your affiliate, shipping and payment partners.
Having a strategic security plan is important to protect the health and safety of a merchant’s business. We hope by sharing some of the security principals we’ve put in place can help you avoid security pitfalls and allow you to concentrate on building your client base.
Have a security question or need help solving a cybersecurity issue, contact us at sales@Segpay.com.
Looking to learn more about how to protect your subscription brand from a potential security threat? Join the SUBTA community to share ideas and resources with fellow members!
Cathy Beardsley is president and CEO of Segpay, a global provider of merchant services specializing in subscription-based billing, high-risk payments and fraud mitigation. Segpay offers secure turnkey solutions to accept online payments, with a guarantee that funds are always safe and protected with its proprietary Fraud Mitigation System and customer service and support.