As the e-commerce industry continues to spread worldwide, both merchants and consumers must focus on identity theft prevention. Between 2005 and 2010, credit card data theft increased by 50%, according to the U.S. Department of Justice. Below are some identity theft prevention tips to keep yourself and your customers safe.
Merchants and consumers must use a certain degree of caution when conducting online credit card transactions. As a PCI DSS requirement, merchants must integrate an SSL certificate to their website. This validates your business and encrypts personal payment data, which adds another layer of identity theft prevention.
Consumers can identify the SSL certificate on a website by seeing that the URL containing an HTTPS (as opposed to an HTTP). A working SSL certificate will also display a green padlock. Be wary of red padlocks or purchasing from a non-HTTPS website.
By law, merchants must have some identity theft prevention protocol when it comes to their customers’ information. Make sure your business uses an effective protocol and implement any necessary changes. Restrict employee access to receipts and only allow authorized personnel on computers. Additionally, safeguard computers that contain important information against hackers using viruses, spyware, and malware protection.
As a consumer, invest in identity theft prevention software. There are plenty available that will update you on your credit score and send you notifications if anything suspicious happens to your accounts.
For online purchases, use a credit card rather than a debit card. A credit card limits the amount of money someone can take. Using a debit card results in someone taking funds directly from your bank account, while a credit card gives you time to dispute the fraudulent transaction.
Make sure you shred all bills, bank statements, or any other paper documents that have your personal information on it before throwing them away. People can find these documents in the garbage or recycling.
As a business owner, only collect the information you need and dispose of it as soon as you can. You should also shred documents by purchasing a shredding device or by using a service that will shred or burn the confidential documents you wish to dispose.
Instabill knows you want to keep your customers and your business safe from identity theft. With our identity theft prevention tips and secure payment gateway, you can process your customers’ credit cards without fear. With our payment gateway, you can monitor, pre-approve, and cancel transactions that you believe are fraudulent as well as legitimate. As an added bonus, our risk prevention department will also help you monitor for fraud.
To learn more about our secure payment gateway, contact us online or call toll-free at 1-800-318-2713 today.