Tip of the Week: How to Secure Your Business’ Credit Card Transactions
A major concern for your business is protecting the credit card data you collect from your customers and clients, but you also need to ensure that the company credit card you use to make purchases is secure. Here are some tips, tricks, and best practices you can use to keep this incredibly important asset safe and secure.
Is Your Company Card Secure?
It is a common practice for a company to have a shared credit card that is used to make necessary purchases. Therefore, you need to take measures to ensure that you protect this card from being stolen or abused. Here are some of the best ways to make sure your business credit card stays safe.
Have a Few Preventative Security Measures in Place
Be sure to consider the following for your business’ credit cards:
Encryption is one best practice that no business should do without. From credit cards to online transactions, you should take every precaution you can. Make sure that HTTPS is in the URL of any website collecting your credit card data, and use alternatives to the card swipe whenever possible, like chip-based cards, contactless credit cards, and mobile wallets.
There are countless methods that hackers can use to steal your credit card. They might use a phishing scam, posing as a vendor to confirm that they have your payment information on file, or they might come in the form of telephone calls that record the target’s voice to confirm transactions. Credit card skimming is also a thing, where an existing card reader at an ATM, gas pump, or otherwise, can be used to steal information. Always be sure to keep an eye out for these tactics or for things that don’t look like they belong.
Knowing How to Address Fraud Beforehand
It’s remarkably easy to take advantage of a human being compared to taking advantage of a complex computing system, which is why phishing and social engineering tactics remain popular choices for scammers. You need to take every precaution you can so that you and your team are best equipped to protect themselves from these attacks.
Ensure Your Team Has Reasonable Restrictions in Place
There needs to be a limit placed on the people who have access to your organization’s credit card. It’s also a good idea to place a limit on the card in terms of the balance it can have, as this limits the damage that could be done if it were to be lost or stolen.
Every Element of Your Business Needs to Be Secured
There are countless variables that must be taken into consideration to maximize your business’ security, from its tools to its processes and even its behaviors. We can shore up your defenses with our comprehensive security solutions. To learn more, reach out to us at (02) 8825-5555.
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