Helping Executives Eliminate the Expensive Risk of Exposed Customers Payment Data Without Throwing Money at Solutions that the Biggest Companies can't get to work
StagedPay Stops Hackers from Using Business Vulnerabilities to Access Payment Data
High-profile data breaches have become an everyday occurrence. Hackers understand the vulnerabilities in credit card processing systems and use them to steal customers’ sensitive data.
Sensitive credit card data gets exposed to risk at two primary points:
- Pre-authorization: When you capture a customer’s payment information and send it to a credit card processor
- Post-authorization: After you receive a response from the credit card processor, you store your customer’s payment data in your cardholder data environment
While encryption can help protect this data, it can’t eliminate the risk of a breach.
Tokenized Payments Eliminate Risk and Augment Data Security
A data breach, especially one involving your customer’s payment information, can cost your business millions of dollars and permanently damage your reputation. To reduce the risk of such a breach, forward-looking companies are transitioning to tokenized payments.
With tokenized payments, businesses receive a digital token in place of their customers’ payment and credit card data. The businesses then exchange the digital token for payment; this exchange takes place in a highly secure digital “vault.” Businesses never receive the customer’s full credit card number, and tokens themselves are not monetized.
StagedPay: Tokenized Payments for All Your Customers’ Purchases
StagedPay is a patent-pending hosted service that processes tokenized payments on the Azure cloud. StagedPay offers unique benefits:
- Eliminates the risk of exposing customers’ payment data during a breach
- Allows your clients to securely place orders online, in-person, and by phone, email, or text
- Reduces your cardholder data environment and streamlines your PCI compliance
- Can reduce your business’ credit card processing costs
- Is already integrated with many major credit card processing systems
- Can take as little as a week to set up and implement
With StagedPay, your customers provide you with a portion of their credit card number at the time of purchase. Almost immediately after they complete the order, StagedPay emails, texts, or calls the customer, and obtains the rest of their credit card information.
Once StagedPay has the remaining credit card numbers, it combines all the numbers like a combination lock which exists in system running memory only and sends your business an approved token to finish the sale. The StagedPay platform also offers convenient invoicing tools that let you issue, process, and update your invoices online.
If you’re looking to offer your customers peace of mind while increasing sales and profits, contact Stratus Innovations Group for more information about StagedPay.