Risk management for payment processors.
The truth is that every payment method involves risk. If you run an online business and accept payments online, it is important to know that it comes with a set of risks. The major of them are fraud and operational risks where is loss is due to technical and sometimes human errors. The risks can be managed with a little effort to improve the quality of the sale and we strive hard to help the customers accomplish their needs.
We customize the most secure solution for your business needs
PAYPOUND Is committed to providing our customers with a seamless processing solution that can easily manage the complexities of payment processing to achieve more success in a secure way. We have multiple layers of security which include multiple firewalls, intrusion detecting tools, fraud checks and others to safeguard our customer’s data. PAYPOUND’s payment engine is built to provide an operating environment that meets all the regulatory norms and also fulfills the customer’s data security concerns.
Types of operational risks
There are various types of operational risks and one has to consider them to keep their payment system secure. These include but are not limited to-
1. Inadequate and failed information
2. Excessive fraud or chargebacks
3.Breaches in the security systems
5. Unforeseen Calamities.
Consider the following
Knowing the danger with estimated loss helps businesses to reduce the likelihood of risk. It is important to know:-
1. What are the potential threats?
2. How often does it occur?
3. How swiftly can the threat be detected
4. How much would it cost you?