When you’re handling sensitive data and credit card information, assuring your customers their information is secure is crucial. With stricter credit card regulations being enforced next year, now is the best time to ensure your company is PCI compliant.
How can I ensure credit card security?
abas ERP has partnered with Vantage to create abas Pay, a payment processing solution that improves the control and accountability of your business to-business payments. abas Pay has undergone several upgrades to improve the security of your business transactions that will be available by the end of 2016:
- The updated abas Pay now requires you to use tokenization when dealing with payment transactions. Tokenization is the process of using a token number in replacement of sensitive data, such as credit card or bank account information, so your customer’s confidential information isn’t stored directly into your system. The token number removes the value of the data to criminals while maintaining value to you and your customer, improving overall security.
- The updated version also gives you the option to e-mail a secure payment form to your customer that will then create a card or ACH token that can be used in the future, so you never have to handle the customer’s sensitive payment data at all. This would be the best practice for you and your customers because they are the only ones handling their confidential information and the abas user only interacts with the token number.
- The post authorization infosystem has also been improved to support multiple charges with one credit card transaction. This is beneficial in scenarios where the customer requires a specific amount, such as the lump sum of multiple invoices, to be charged as a single transaction in order for payment authorization to take place. When customers never want their payment method stored to their profile, even as a token, then a one-time use token can be used.
- abas Pay’s newest functionality is the capability of securely handling Automated Clearing House (ACH) payments. ACH vendor payments can be accepted in all the same ways as card payments, tokenized and securely stores as a payment method in your customer’s profile.