Changes are happening in the commerce industry all the time. Some are regulatory and some are complex technological innovations. Whatever the change, it is designed to improve the buying experience for both the merchant and the customer. Today, many changes are being made to enhance payment security.
Fortunately for both transactional parties, security changes are also keeping pace with philosophical shifts in buying preference. Today, more sales are being conducted online than ever, and it's up to the vendor to do what they can to secure their customers' sensitive payment data. New technologies are improving online payment security, to help merchants attain PCI compliance and protect customers from fraud.
An article in the online publication the Jags Report lists the ways online payments are changing to improve the shopping experience and security is near the top of the list. According to the article, four out of five shoppers prefer to buy online, but one of the main factors preventing them from becoming primarily online buyers is the persistent fear of cyber criminal activity. However, as technology evolves, those fears should start to alleviate.
"One of the issues that drive some customers away from online shopping is the fear of fraud," the article says. "Fraud protection and security systems continue to improve with technological advances."
One of the ways businesses can prevent criminal activities and targeted attacks is by implementing a tokenization solution. This will keep customer data offsite and secure. B2B providers must be especially cognizant of security risks due to the high stakes of their business, but working with a B2B payments consultant can help vendors acquire the tools they need to safely process all transactions.