Does your business accept credit card payments online? Doing so is a great way for small businesses to simplify sales in addition to or instead of face-to-face transactions.
Even though the customer isn’t standing in front of you, you’re still required to protect his or her credit information, says the PCI Data Security Standard (PCI DSS). It’s also important to safeguard your own business against security risks: When it comes to accepting online credit card payments, fraud is on the rise. According to the 2013 LexisNexis True Cost of Fraud Study, merchants who accept online payments attributed 42 percent of fraudulent transactions to the online channel this year, compared with 31 percent in 2012.
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