What Are The Security Risks Of Online Merchant Accounts?

By  |  September 20, 2020  |  Search Engine Optimization  |  No Comments

What Are The Security Risks Of Online Merchant Accounts?

Online security has advanced a great deal in the past
ten years or so. Online merchant solutions have taken
the best advantage of this advancement in technology
by allowing many online businesses to take advantage
of the convenience of accepting payments online and
delivering goods to their customers without actually
meeting them.

However, as with every positive point to any
development there are a few negatives as well. Though
merchant transactions on the internet has improved to
prevent online theft, popularly referred to as ‘cyber
theft’, there are ‘gurus’ in the field of software
development who would rather lend their expertise and
knowledge to hacking or breaking into online
businesses and online payment processors to steal and
plunder.

Many online merchant establishments have experienced
their digital products, such as PDF files, music,
video and what not being downloaded by cyber criminals
who have somehow managed to circumnavigate their
secure payment gateways, thus causing a loss to the
online merchant establishment.

Many online payment processors have also experienced
theft by people breaking into their client’s accounts
and transferring cash online. Online credit card fraud
is also nothing new to online merchant transactions.

The answer to preventing online merchant fraud is to
use a reliable service that has proven their expertise
in the field of online merchant solutions. They will
have to have honed their skills in developing SSL
technology.

This is an Acronym for ‘Secure Socket Layer’
technology. SSL encrypts the data being transmitted
over the net and is almost impossible to decipher.
This actually reduces online fraud considerably.

If you have a reliable developer to create your
software for you, you can proceed with your plans of
setting up an online merchant account and cash in on
many deals your competitors are profiting by at the
moment.