When we talk about payment processing to generate revenue, a payment gateway is a primary need for a merchant. A payment gateway facilitates them to receive their payout. But the question here for the payment service provider that how to make their payment gateway safe and secure?

Generally, people have two answers: develop their own framework or get a service from a third-party service provider. Both have their own demerits; with the development, you will have to spend lots of money and time, and with a third-party service provider, it will be hard for you to maintain your brand value.

But, what if I say a third option is available as well, Will you believe it? Yes, we have the third option as well, called White Label Payment Gateway. You can call it a revolution in the field of payment gateway. It helps you start your payment gateway and supports you in building your brand value using your brand name in the payment gateway.

Role of secure payment gateway in your business

With digitalization, so many businesses are being online. And a service provider needs to provide uncompromised and unbreakable security. No one likes to make any transactions on a platform where they won't assure security. It makes your business more profitable and more trustworthy. Having a secure payment processor encourages your clients to opt for your services. A safe payment mode makes your clients will strong to make the purchase. In a nutshell, we can presume that a secure payment processor plays a vital role in developing any business.

Possible threats in payment gateway

It is vital to understand the threats available in the payment processor. But, more important knows how to deal with it. Most of the payment gateways are secure with TLS encryption from the website to the payment processor. Once the data reached the destination, it is still at risk. Make sure you are using high-end encryption in order to protect your data.

Possible threats:-

Breaches

An inadequate security architecture, lack of standards, and poor management result in a data breach. Using a flawed encryption method is the main factor in data theft.

Failure to encrypt

Unfortunately, most companies only look for sensitive information security; they do not think about non- sensitive information's safety. As a result, attackers can easily access this information and find a way to access sensitive information.

Neglecting 2FA

Whether this is through a method like a user and IP-address safe listing or another way, it's essential to have this in place because a security system is only as strong as its weakest link.

DDOS attack

This campaign flood a system with lots of data. It affects the system badly, and the network starts working poorly. This type of threat slows down your response time and involves your processing, hardware, and services.
It is essential to understand these threats and other available threats to protect your system.

How to make your payment gateway secure

It is not an easy task, or we should say almost impossible, to eliminate fraud. But there are some ways available to prevent it in order to secure your data from theft. Let's have a deep look at the available tools to secure your network:-

SSL encryption

Transactions secured with SSL protocol make your services more trustworthy. SSL (secured service layer) supports you in encrypting the sensitive card information to protect it from being stolen. It improves security and makes customers willing to buy more.
The SSL is signified by a padlock icon in the URL bar, and the web address begins with HTTPS.

PCI-DSS

PCI is mandatory while processing payment online on your website. PCI-DSS, known as the Payment Card Industry Data Security Standards, has a regulation for the merchants that tells them what to do to protect confidential information in payment processing.
It is not required for a merchant to be PCI-DSS compliant if choosing an adequate payment gateway provider. It is a payment gateway provider's call now to comply with the PCI security standard. Keep in mind that PCI-DSS compliance is a must for payment processors.

Tokenization

Make sure you are not storing customer's credit card or debit card data on your server. If you choose the right payment gateway service provider, it won't let the data touch your server. Plus, it is encrypted before it is ever stored in a database server.
Tokenization saves your effort by not entering the exact details repeatedly; instead, it generates a string of characters randomly and reduces the risk of a data breach. One of the best protection methods is using a token that represents an actual card number. After the authorization, the data is sent to the centralized server and stored securely. Simultaneously, a merchant's system receives a unique number. Then the token can be used instead of the card's data, with one click payments on the customer's future transaction.
Choosing a payment gateway with a tokenization feature can help you to minimize the risk of payment fraud.

Anti-fraud tools

Fraud prevention tools help the facility monitor and scan your every transaction, making it easier to prevent and eliminate all fraudulent suspects and transactions.
Moreover, you should look for a service provider with dedicated customer support. It is crucial to make your payment processing smoother and error-free. You need to be sure that you can contact the service.