Key Ingredients to a Foolproof Payment Processing System

Safety is the utmost concern when it comes to digital payments for transactions. Nowadays, our customers are used to online payments and they immediately share details on an eCommerce platform. Thus, the responsibility of ensuring security often falls on payment gateway providers, and you need to invest in the right company to keep your customers happy. Here is a list of a few features that keep the payment gateways like Payment Asia stay secure and trustworthy.

Data Encryption Technology

A payment transaction involves customers' sensitive data. The plaintext is often converted to ciphertext, which is a new secure text deciphered only by authorized individuals. These algorithms prevent third-party hackers from accessing sensitive data. Every time a customer's data is entered into the system, the payment gateway's public key encrypts it. There is a requirement for a private key to decrypt it. The deciphering can be done only by using Only you, the merchant, and the payment gateway providers will be privileged to this data. As mentioned by Payment Asia’s Kenneth, providers like them keep a check on possible threats at regular intervals.

Secure Electronic Transaction Protocol (SET Protocol)

SET protocols ensure payments done using a credit card are securely carried out. The credit card details are masked and payment information is kept confidential. The digital signatures from credit cards will be available only to the payment gateway. The use of public-key certificates and digital signatures ensure the highest level of security in these real-time payment processes.

Secure Socket Layer (SSL)

You should make sure that the payment partner you engage with has an SSL certificate. It is a security layer with a pair of keys, a public key and a private key. Together they work towards creating an encrypted connection between the server and the browser. The SSL certificate is designed to validate the authenticity of the website and plays an important role in safe online transactions. The authentication of a website's identity is mostly done online. Engage companies like Payment Asia with proper compliance to regulations to maintain the safety of your customers' data.

You may have started a small business, either online or a physical store, or any other business that has digital payments. To attract more customers, it is important to have a trusted payment partner with you. In addition to the methods mentioned above, Payment Asia implements a number of innovative technologies to ensure the safety and security of digital transactions.