Big or Small, Credit Card Security Affects All

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With the increase in electronic payments occurring across the globe, security has become a major focal point and as a result has led the Payment Card Industry to pass a number of security compliance mandates to curb data breaches and credit card fraud. Still cardholder accounts are being compromised more frequently and it seems more and more common for larger companies to fall victim to these breaches, as recently experienced by the New York-based Citigroup Bank.

Citigroup recently disclosed that more than 360,000 accounts were exposed as part of a data breach in early May. This was more than twice the number the bank originally reported. Everything from cardholder account numbers, contact information and e-mail addresses were compromised by a simple hacking technique that allowed the hackers to move from account to account by simply changing numbers in the URLs on Citigroup’s website. This goes to show that even the largest of companies can be ill prepared and fall prey to the most basic of cyber-hackers.

If your organization is processing credit cards internally within an ERP system and storing card holder data on your servers, there is always the risk of that data being compromised. From big companies to small, properly securing cardholder information is extremely important. This is where technology called tokenization, which stores credit card data off site and onto other servers, can be invaluable. Securing sensitive information like cardholder accounts on a third-party server completely takes the liability off you and also greatly reduces the scope of becoming PCI compliant. Tokenization can greatly reduce the cost of obtaining compliance by lowering the cost of the assessment and by lowering the difficulty of implementing and maintaining control of the cardholder data environment. Tokenization involves breaking up strings of data into elements called tokens. These tokens retain all the essential information that uniquely identifies that data, but without compromising its security, allowing information to be passed safely.

At Azox we specialize in credit card processing for organizations and offer a credit card processing solution with direct integration with Microsoft Dynamics GP. Our solution works with two leading companies who specialize in tokenization, Authorize.Net and Payment Processing, Inc’s PayMover Gateway. Both of these gateways allow online transactions to occur and store card holder data securely off-site. If you want to learn more about credit card processing, please feel free to sign up to receive our  whitepaper the Benefits of Integrated Credit Card Processing Within Microsoft Dynamics GP.

By Azox, Inc., - Credit Card Processing for Microsoft Dynamics GP

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