86% of people says they are unlikely to do business with an organisation that has suffered a security breach.
This piece argues that brands can protect customer payment data by ensuring that the data is not saved on the company database. While solutions like pausing recordings for over-phone-payments exists, they still carry considerable risk.
Using IVR systems for payments can mitigate security risk but they also have high drop-out rates. Other options like sending customers to an external secure payment channel, like PayPal, are clunky as they interfere with user experience.
The author suggests that brands can send customers a secure link where the payment data is encrypted and routed directly to the payment service provider. This approach can help companies reduce the risk of a data breach as the payment details never enter the company’s business network infrastructure.
[5 minute read]