Is Paymentwall Safe? Here’s the Truth

Paymentwall is an international e-payment provider and, as such, is susceptible to attacks from the outside. Fortunately, Paymentwall is indeed safe due to its many security measures and high standards.

Paymentwall has many built-in features that make it compliant with PCI-DSS requirements. One such feature is 24/7 human fraud monitoring backed by a risk machine used to identify possible fraud or security breaches.

In this article, you will learn more about what makes Paymentwall a secure platform. You will see that this platform has gone above and beyond to meet security compliance guidelines. The approach of this e-payment platform can be compared to other e-payment platforms once you learn about basic security compliance requirements.

Paymentwall Is PCI-DSS Compliant

At the very least, you would hope that Paymentwall meets industry standards. This platform goes above and beyond to meet the security requirements set forth by standards that will be discussed in further detail below.

What is PCI DSS?

PCI DSS stands for Payment Card Industry Data Security Standard. These security standards include technical and operational requirements that are set forth by the PCI Security Standards Council. The purpose is to protect cardholders from data breaches of digital commerce services such as Paymentwall.

All entities who either accept or process payment cards are required to comply with the standards of PCI DSS. The council has published several guidelines for digital commerce services. The safety and security of Paymentwall depend upon their answers to these requirements, as will be discussed in this article.

What Are The Requirements Of PCI DSS?

The requirements of PCI DSS are stringent by design. Platforms that process payments have to follow these protocols in order to ensure that cardholders are not vulnerable to theft and fraud. Anyone designing a platform like Paymentwall must make sure that they can check yes to all of the following guidelines.

PCI DSS requirements include the following:

• Build and maintain a secure network
• Protect cardholder data
• Maintain a vulnerability management program
• Implement strong access control measures
• Regularly monitor and test networks
• Maintain an information security policy

How PaymentWall Accounts For Possible Fraud

Rest assured, there are many safeguards that Paymentwall has in place to prevent fraud. Paymentwall has a multi-faceted in-house risk processing system in place. These safeguards are designed to address the requirements of PCI DSS in the ways that are discussed below.

Machine Learning Risk Engine

A risk engine has been built to evaluate how users utilize the features of the website. In doing so, this system can take notice of suspicious activity and prevent fraudulent transactions from occurring.

The risk engine is one of Paymentwall’s answers to the PCI DSS requirement to “maintain a vulnerability management program”. Services like these are certainly susceptible to fraudulent transactions, so it’s nice to know that Paymentwall has your back with its own in-house risk engine.

24/7 Risk Processing Team

A human risk processing team is active 24 hours a day, 7 days a week. This team is left with the duty of judging whether orders are legitimate or not. Should any red flags arise during the process, the team has the ability to restrict fraudulent or potentially-risky transactions.

This feature meets the PCI DSS requirements for platforms to be able to track potential fraud and security breaches. The human risk processing team ensures that fraudulent activity does not go unnoticed.

Chargeback Early Warning Service

Paymentwall also offers its users a Chargeback Early Warning service that sells to resolve and non-fraud disputes before they even become a chargeback. Real-time communication services are offered 24/7.

Is There Any Way That I Can Make Paymentwall Safer?

A good way to ensure that you stay PCI DSS compliant with Paymentwall is to secure the payment page with Transport Layer Security (TLS) 1.2 or higher and use an HTTPS connection.

TLS is a cryptographic protocol used for securing connections between clients and hosts who are communicating over a computer network. For those unfamiliar with the terminology, here is how it works:

• HTTP stands for Hypertext Transfer Protocol

  • In HTTP, all information between server and user is sent in plain text across the public internet, leaving it vulnerable to hackers

• HTTPS stands for Secure Hypertext Transfer Protocol

  • Information/data transferred between computer and server is encrypted

• TLS goes a few step further to authenticate both the server and the client and encrypt the data

  • TLS is the successor to the SSL certificate

Back in 2016, the PCI SSC required organizations that process payments to migrate over to the latest version of TLS by July 2018. Continued developments in encryption technology make Paymentwall a safe and secure platform for servicing payments.

In 2014, a study in the field of network security research explored the strengths and weaknesses of E-Payment programs. At the time, SSL was the most popular security mechanism. The study accepts SSL as a sufficient degree of encryption for commercial exchange. At the time, SSL was found to help prevent common attacks. It was effective against a brute force attack because it uses 128 bits.

Since the time of the study, TLS has presented itself as a more advanced alternative to SSL encryption. The results of this study go to show that E-payment services can withstand common attacks.

See How Paymentwall Works With A Test Run

The PCI DSS (Payment Card Industry Data Security Standard) calls for sites that store and transmit cardholder data to “regularly test security systems and processes”. Paymentwall addresses the need to test security systems.

One way that this is done is via a test payment method that is offered by Paymentwall. This allows merchants the opportunity to see how the payment process works without having to exchange any actual money. The rest payment will initiate a test pingback and uploads the transaction data to the Transaction Sandbox Reporting.

Transaction Sandbox Reporting provides you with the opportunity to see the reports of your test payment. This test payment data will then be viewable for 30 minutes. These features will allow you to familiarize yourself with the features of the platform.

The test run should show you the number of security safeguards that exist within this program. If you encounter any issues, there will be no need to worry because there will not have been any amount of actual money moved during the course of the transaction.

Is Paymentwall Safe For Credit Card Users?

Another way that Paymentwall seeks to meet PCI-DSS standards is via a process called tokenization. Credit card information must be protected when it is stored. This platform has been able to rise to the occasion.

Tokenization is a common method for securing credit card data. During the process, credit card numbers are replaced with a random value known as a token. Credit card information is submitted to the card network for authorization as soon as it is submitted.

No actual credit card numbers are stored within the system. The same token can be used for future purposes, eliminating the need for the actual credit card number to be implemented. You have probably seen this on other platforms where only the last 4 digits of your credit card number are displayed. These numbers are effectively useless to hackers.