Customer Security Concerns
The Payment Card Industry (PCI) Data Security Standard, implemented by Visa and Mastercard, was put in place to protect the cardholders information and ensure that all parties involved in the transaction are maintaining the highest security standard. Visa and Mastercard also deemed that any merchant can be held liable for a breach of the cardholder’s data. These issues have become a major concern for merchants who wish to handle electronic payments but do not want to go through the extended process and costs associated with becoming PCI compliant.
Customer Vault Solution
Do you have customers who frequently purchase products or services from you? Do you wish there was a secure way to store those customers credit card or check information to run transactions with on a regular basis? The Customer Vault does just that. It securely stores your customers payment information so that you can charge them whenever you need, without having to ask for their card number again and again.
The Customer Vault allows merchants to transmit their payment information for remote storage in a PCI certified data facility. Once the customer record has been securely transmitted to the Customer Vault, the merchant can then initiate transactions remotely without having to access credit card or electronic check information directly. This process is accomplished without the merchant storing the customer’s payment information in their local database or payment application.