Many people and businesses are looking for ways to keep their transactions secure. This can be a complicated process, especially when you’re dealing with different currencies and companies worldwide. This blog post will explore some of the tools and technologies that can make it easier for you to have secure global payments. You can also try visiting FortifID for their offers. Aside from its improved fraud protection, this website also provides other services that can greatly help.
1. EMV Chip Cards
Often referred to as smart cards, EMV chip card technology is becoming the global standard for credit and debit transactions. Although they have been used in parts of Europe since 1993, it’s just recently that US companies are starting to invest in this system, which protects against counterfeit fraud.
More businesses are interested in using these new payment options because of recent changes made by Visa Inc., Mastercard Inc., Discover Financial Services LLC, and American Express Co. These companies agreed in October (2015) to shift responsibility onto merchants if their business doesn’t support “chip-on-chip” transactions (meaning, when an EMV card with embedded microprocessor chips interacts with a point-of-sale terminal equipped to read them). This means accepting liability for any fraudulent activity on their credit card transactions.
This is why it’s so important to run a business that handles payments by customers who travel internationally or domestically. Ensure your payment system complies with these standards as soon as possible because not doing so can potentially increase your risk of being hacked!
2. Reputable Global Payment Platform
Today, there is a slew of different global payment platforms available on the market that help businesses engage in cross-border payments. While some tech companies may claim that their platform can be used for all business needs, this is not always true. As explained at https://www.shiftconnect.com/oanda/, a reputable global payment platform should have been designed explicitly with international BFSI organizations and large corporations in mind. In other words, if you’re engaged in any financial transaction abroad through your business – whether it’s importing or exporting goods from another country, paying an overseas supplier, or receiving money from a client located outside of your local area – there is likely going to be a solution out there for you!
When choosing a company to provide these services, here are three key considerations:
- Language Support
- Currency Support
- Security and Compliance Standards
3. Google Authenticator
This app provides one-time password authentication for your account. With this tool installed on your mobile device, every time you sign in to PayPal using the web browser or a smartphone/tablet, it will generate an entry code that is valid for 30 seconds only which needs to be punched into the keyboard along with your username and password credentials.
This two-factor application uses a Time-based One-Time Password algorithm (TOTP). It generates codes that are based on time rather than shared secrets like SMS messages. The secret key stays securely on both devices – yours and PayPal’s endpoints, i.e., the website server where the login takes place and encrypted payment gateway through which transactions are carried out.
4. PGP Encryption
PGP stands for Pretty Good Privacy, and it is an encryption program that allows you to protect data on your computer with a password. The most common form of PGP is email protection, but the basic principles are the same across all forms of this technology. You can download PGP software from several different sources online, including MIT’s website.
Most people choose to use version two or three of this system when they’re trying to keep information secure. These programs offer excellent security features without being too difficult to operate, so even technophobes should have no problems getting up and running in just a few minutes!
The first thing you need to do is create your key. After making it, you will need to share your key with those people you want to encrypt data. This is done by creating a ‘keyring’ containing all of the information necessary for PGP encryption. If one person updates their ring, they must share this new file with everyone else before anyone begins sending encrypted messages again!
In this age and era of cybercrime and hacking, companies must use VPNs to stay protected. Virtual private networks provide a secure tunnel between two or more devices across the Internet. They enable employees working from home or on mobile devices outside of the office to connect securely with their company’s intranet. For instance, when you log in to your bank account online using an internet cafe’s public Wi-Fi network, there is always a risk that someone else might be able to monitor your activity – including passwords. If you’re connected through a virtual private network (VPN), even if someone intercepts those packets traveling along with the shared or public network, all they see is encrypted information.
Dealing with global payments requires a lot of attention to detail. After you’ve already taken care of the legalities involved with international transactions, it’s time to make sure your payments are secure from beginning to end. Many valuable tools can help keep global payments safe for everyone involved, but some require more research than others before getting started. This blog post will cover several different payment security strategies and how each one works within the broader scope of good business practices in digital currency exchange.