At Razorpay we strive to make every transaction done via our payment gateway a secure payment. We’re a technology-first online payments company and online payment security is in our DNA. We employ a ‘no stones unturned’ approach to safeguarding the interest of both the online businesses who use our products, as well as their consumers.
We also understand the assurance of secure payments is one of the primary drivers behind the choice of a payment gateway.
With the growing number of e-commerce users and transactions in India,, it is important that we are all aware of the mandatory security protocols for e-commerce websites; so that we can avoid fraudulent situations. As the saying goes, prevention is better than cure.
In this article, let me walk you through the security protocols and processes followed at Razorpay, and which you should look for, too, every time you transact online.
Data security on e-commerce websites or an online payment system begins the moment a user lands on the site. The TLS Certificate tells users that the data transmitted between the web server and their browser is safe.
As a payment provider, Razorpay uses the highest assurance SSL certificate on its website which is the EV SSL (Extended Validity SSL) certificate.
Without TLS Encryption in place, all data sent over the Internet is unencrypted and is visible to anyone with the means and intent to intercept it. An easy way to check if the e-commerce websites you frequent are SSL certified is to look at the URL and see if it uses ‘http://’ or ‘https://’ protocol.
The additional ‘s’ signifies a secure e-payment system. You can also look for the padlock icon at the beginning of the URL. Modern web browsers in their race to make the Web secure by default are now following the opposite paradigm – mark HTTP sites as “insecure”.
The PCI Security Standards Council is a global organization that maintains and promotes compliance rules for managing cardholder data for all e-commerce websites and online payment systems.
The Payment Card Industry Data Security Standards (PCI-DSS) is in effect a set of policies that govern how sensitive cardholder information should be handled.For an e-commerce website or an online payment system to be PCI-DSS compliant they have to follow certain directives:
Maintain a secure network to process payments: This involves using robust firewalls which can protect against malicious security threats. Further, the website or payment gateway should not use default credentials like manufacturer provided PINs and passwords, and must allow customers to change this data as needed.
Ensure all data is encrypted during transmission: When cardholder data is transmitted online, it is imperative that it be encrypted. Razorpay encrypts all information you share using checkout via TLS (Transport Layer Security). This prevents data interception during transmission from your system to Razorpay.
Keep infrastructure secure: This directive involves keeping abreast of new PCI-DSS mandates and using updated software and spyware to protect against known software vulnerabilities, running regular system and software scans to ensure maximum data protection.
Restrict information access: An important part of securing online payments on e-commerce websites is restricting access to confidential information so that only authorized personnel will have access to cardholder data. Cardholder data must be protected at all times – both electronically and physically.
Tokenization is a process by which a 16-digit card number gets replaced by a digital identifier known as a ‘token’. This is done to ensure the safety of the original data while allowing payment gateways to securely access the cardholder data and initiate a secure payment.
Credit card tokenization helps e-commerce websites improve security, as it eliminates the need for storing credit card data, and reduces security breaches. For more on how tokenization works and impacts online payments, you can read our in-depth blog.
Two Factor Authentication, aka 2FA, or two-step verification is an extra layer of security added by e-commerce websites to ensure a secure payment for a customer.
This is a customer-facing authentication process, mandated by regulatory bodies like RBI, in that the transaction is processed only after the user enters a detail that only they could know, or have at hand (like a physical token or a security key). Many banks and other e-payment gateways also use the 2FA for their own payment modes.
When you use Net Banking for a transaction, you are first asked to enter your username and password. As a final confirmation, the bank sends you an OTP on your registered mobile number. This process has been mandated by the RBI, is divided into two levels of authentication:
Apart from these mandatory protocols, most e-commerce websites and payment gateways have their own fraud and risk prevention systems. Big data analytics and machine learning play a huge role in devising these risk prevention and mitigation systems.
By delving into our customer’s data and analysing patterns, we at Razopray can discern between a ‘normal’ and a ‘suspicious’ transaction with credible accuracy. Apart from this, there is a lot that you as a customer can do to reduce the risk of fraud.
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