Some of your customers may not know it, but every time they purchase something with a credit card or a debit card from your business website — or they buy something from your brick and mortar location — a merchant service provider (MSP) facilitates the transaction between buyer, seller, and the MSP’s partner bank that processes the transaction before transmitting proceeds to the seller’s business bank, which may or may not be the same bank the MSP uses.

small fancy office At first glance, an MSP may seem like a “middleman” in the sales process that could be eliminated for the financial benefit of the seller. After all, an MSP earns most of its revenue from charging a low percentage fee for every card transaction. However, because diligent MSPs specialize in online payment security, they play a crucial role in the sales process by helping customers make purchases with confidence because they know their financial data is safe.

Best Online Payment Security

Payment security for web-based purchases is similar to offline security for in-store, cash purchases in one respect: There’s a myriad of security strategies you could implement to help protect the payment. While some online payment security strategies are designed with certain types of sellers and buyers in mind, there are also online payment security compliance standards that benefit practically every type of web-based sales scenario, such as standards for PCI-DSS Level 1 Compliance.

What is PCI-DSS Level 1 Compliance?

PCI Compliance for the payment card industry (PCI) is defined as, “Compliance requires adherence to a specific set of security standards that were developed to protect card information during and after a financial transaction,” according to online journal, TechTarget. In order to attain and maintain PCI compliance, a seller must take the following measures.

  • Build and maintain a secure payment network
  • Implement encryption to protect cardholder data
  • Maintain a vulnerability program with anti-virus technology
  • Implement access control measures to protect cardholder data
  • Regularly monitor and test IT networks for security
  • Implement a strong information security policy

There are four levels of PCI compliance. A business that meets DSS Level 1 compliance “[processes] over 6M Visa transactions per year, [regardless of accepted payment channel].” In addition, this level of compliance is required of “any merchant that Visa, at its sole discretion, determines should meet the Level 1 merchant requirements to minimize risk to the Visa system.”

factoryAllied Wallet has the Security You Need

By protecting the integrity of your customers’ online payments, our best-in-class, cutting edge security technology for online payments helps you generate repeat business and build a loyal customer base. Consumers and businesses know that not every payment gateway has the best security behind it, which gives you the opportunity to develop a unique value proposition (UVP) based on your business’ impressive PCI-DSS Level 1 Compliance.

Contact Us Now to get Excellent Rates

In addition to offering top online payment security, we offer highly beneficial transaction percentage transaction rates that start at 1.5% per transaction (down from a starting point of 1.95% per transaction) for qualified businesses.

To learn more about how we can help you serve customers and grow your business by implementing the best online payment security, please call us from the U.S. at (888) 255-1137, call us from the U.K. at +44 203 318 8334, or refer the contact form on our business website. We look forward to learning about your business and seeing what we can do to improve its payment security.