ONLINE BILL PAY SECURITY

ONLINE BILL PAY SECURITY

Anyone can go on and on about the benefits of online bill pay, but some people simply won’t be impressed with the option. The most common reason why? Security issues. Many people don’t trust payment portals and are afraid that this is an easy way for a customer’s credit card information to get stolen, which is a liability for the company, as well. A secure payment portal actually poses less security risks than the traditional methods of payment, such as checks sent through the mail or credit card numbers taken over the phone. Below are a few reasons why.

CARD NUMBER TOKENIZATION

Many payment options these days allow a customer to save their credit card number so they never have to reenter it the next time they go through checkout. Although this seems convenient, it’s also a huge security issue. If you are searching for an online bill pay option, look for one with credit card number tokenization, which saves the number with encryption. This way customers still get the convenience without the associated risk.

PCI COMPLIANCE

If your current method of allowing a customer to pay includes taking their credit card number over the phone, then you’re adding more risk than using a payment portal. If you write down the numbers somewhere to remember or lose them, you’re putting the customer at risk. An online bill pay portal is PCI compliant, meaning it adheres to (and helps you to adhere to) the standards set forth by the Payment Card Industry, including how the information is stored and how it is shared with banks, processors and gateways.

PAGE PENTRATION ELIMINATION

Many stories have been passed around about those who have been duped into thinking they’re on a payment portal, entered in their information and then really just gave their information to someone with bad intentions. When using a secure online bill pay solution, the secure payment portal is monitored to ensure that no one can penetrate the page and use the information or recreate the page.

There a few ways of collecting payment, whether it’s traditional forms with checks and cash, collecting credit card numbers over the phone or with a secure online bill pay solution. What’s clear is that using an online bill pay solution is the safest, fastest, easiest and most cost-effective solution to collecting your payments.

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