Consumers love convenience and efficiency. When making purchases or payments online, clients find it most convenient to pay with a debit card or by a credit card. Although online payment involves numerous devices, software, networks, and service providers, it appears straightforward and efficient. With a few clicks, consumers can pay for what they want in a very short amount of time. Behind the scenes, however, this process is a little more complex and often requires a company to hire a software developer. When buying a product online or paying for the services, the cardholder agrees to make a payment by authorizing the transaction. The business accepts authorization, and the payment gets processed. The company then receives the amount that is deducted from the cardholder’s account.
While online payment sounds like a fantastic tech solution, it involves certain risks. Specifically, we know that cybercriminals can steal consumer and payment information for unauthorized and fraudulent purposes, bypassing the sophistication of an online payment system. Therefore, businesses of any level need to set security practices to protect consumer data and financial information.
Hire a Software Developer That Follows Payment Card Industry Security Standards
In 2006, credit card companies such as Visa Inc., Mastercard, American Express, Discover Financial Services, and JCB International formed the Payment Card Industry Security Standards Council (PCI SSC) to deal with fraud and security issues affecting the Payment Card Industry. The council developed security procedures that all businesses, institutions, groups, and individuals who process or store payment information must follow. The goals of today’s compliance requirements are straightforward. They are designed to guarantee that all who process payment cards:
- Ensure a secure network.
- Protect cardholder data.
- Use anti-virus software and other protection programs.
- Set restrictions on the access to cardholder information.
- Ensure that access to network and cardholder information is systematically monitored.
- Ensure that employees and contractors are familiar with a policy that deals with information security issues.
Those companies that do not store their clients’ payment information are not obligated to follow the PCI security standards.
Payment Application Data Security Standard
PCI security standards also maintain a Payment Application Data Security Standard (PA DSS) specifically for software vendors that deal with payment processing applications. This standard requires that software vendors engineer applications that are secure and comply with PCI standards.
This also means that businesses that hire software developers should partner with companies that understand and adhere to PCI standards in their work. Companies must address this question with the potential development team to guarantee protection and security to their consumers.
Precision Code Studios is highly knowledgeable and strictly follows the PCI standards. We prioritize security and use the latest technologies to ensure that all consumer data is consistently protected. In addition to developing the most secure software, our team of experts is ready to train your employees on PCI compliance, monitor networks and hosting services, as well as provide anti-virus software to safeguard cardholders’ data from cyber-attacks. We will go above and beyond to guarantee the best security system for your business. If you are looking to hire a software developer who will help drive your business to success, contact Precision Code Studios today.
