How to maintain payment security: a detailed guide for business

Payment success, maximisable conversion – that is what the merchant, his client and, of course, the fintech company strive for. Every year, the requirements for simplicity, convenience and seamlessness of payments grows rapidly. But along with simplification, the risks of losing funds also strive: due to technical hacks or the human factor. Along with the growth of transactions, the number of fraud schemes also grows. Criminals create fraud manipulations that put not only users, but also businesses at risk – and this can cost the latter not only money, but also reputation. The bill_line team is online, and this guide will provide you with a basic knowledge on the importance of supporting and developing payment security. We’ll talk about world experience and give practical advice business should follow to ensure that your customers’ money (and yours too) are always safe.

Context

In 2024, the losses from cybercrime in the world reached record levels. In the USA, losses from internet fraud exceeded $ 16.6 billion – this is the data provided by the FBI Internet Crime Complaint Center. The major share of these incidents is related to phishing as the basic scheme of internet fraud.

The European Central Bank, in its report on payment fraud, recorded losses of 4.3 bln EUR in 2022 and about 2 bln EUR for the first half of 2023. More than 70% of cases are online transactions.

The situation is similar in Ukraine. The NBU reports about a 1% fraud decrease in 2024 – however, it records an increase in losses as 37% – that’s 1.1 bln UAH.

Year after year, the main types of fraudulent transactions remain social engineering (leading by a wide margin in Ukraine and making up 84%). However, progress in anti-fraud policy and AI development seriously increase the frauder’s technical capabilities. There is only one way out: payment security must develop and be supported faster than new fraud schemes emerge – or at least be on par with them.

The payment solution from bill_line is able to solve the security problems of your business. We are certified according to PCI DSS level 1 (the highest), we have our own custom anti-fraud system, and therefore we can ensure payment security even during peak loads in terms of the number of transactions.

Technologies that work for protection

The modern payment industry already has a set of tools that can reduce the risks of fraud.

3D Secure 2.0

This is the basis of any payment security. If the first version was implemented via a one-time SMS password (OTP), then 3DS 2.0 is familiar to you through confirmation via a banking app.

This doesnєt mean at all that the SMS password is no longer an option – if the user doesn’t have the opportunity to confirm the payment in a modern way, the system should automatically transfer it to 3DS 1.0 The current version of 3D Secure for 2025 is 3D Secure 2.3.1., which contains a number of updates that focus on minimizing the risks of compromising card data.

PCI DSS requirements

This is an international security standard for companies working with card data, which we mentioned above.

Within the framework of the standard, a business must adhere to a number of principles: use reliable network barriers and firewalls, encrypt data during its storage and transmission, limited access only to authorized employees, monitoring of all actions with card data, and also regularly systems testing for vulnerabilities. PCI DSS provides for both technical (SSL/TLS, tokenization, network segmentation) and organizational measures – security policies, staff training, independent audits.

Tokenization

Replacing real card details with unique tokens. Even if a hacker gains access to the token, it will be impossible to use it. The most famous tokenized tools are Apple Pay, Google Pay or Garmin Pay wallets, which have already replaced the physical bank card in daily life for many users.

A tokenized card has a different number (you can check this by going to the details of the card added to the wallet) due to the fact that the issuer or international payment system (Visa, Mastercard, etc.) generates a Device Account Number (DAN). This is a unique token that’s linked only to this specific device. Even if someone intercepts payment data, they will not be able to reuse it.

SSL certificates and HTTPS

They guarantee that client data is transmitted in encrypted form. All information between the user’s browser and the server is encrypted. This means that the card number, CVV or personal data aren’t transmitted in “clear text”. Even if the traffic is intercepted, it’s practically impossible to decrypt it without a key.

An SSL certificate is issued by an accredited certification authority (CA) and confirms the website really belongs to the company, and not to fraudsters. This way, the user doesn’t end up on a fake resource that masks itself as a real online shop.

Human factor: employees and customers

No technology will work if people in the company don’t understand the basic rules of cyber hygiene. Most often, the vulnerable point is an employee who has opened a malicious email or clicked on a phishing link.

Therefore, companies should systematically invest in educational campaigns. This can be both internal team training ( simulations of phishing attacks) and educational campaigns aimed at customers. For example, Amazon and other big-tech companies regularly inform users about the most common fraudulent schemes, and some launch special websites with examples of phishing emails to teach customers to recognize them.

Payment security: checklist business

To protect themselves, companies must combine technology and a culture of security. This means:

• Carefully choose payment partners and study what payment protection options they provide. In the case of bill_line, the basic information is on our website, and your personal manager can tell you as much as possible about the security of payments;
• Use two-factor authentication to access corporate financial systems;
• Regularly update the software, especially modules responsible for accepting payments;
• Conduct regular security audits (especially before peak periods) along with your payment partner;
  Have a written incident response procedure: from instant blocking of transactions to communication with customers.

After the implementation of PSD2 (the second edition of the Payment Services Directive), such requirements became mandatory in the EU. And thanks to this the level of customer trust in online payments has increased significantly.

Cybercrime is becoming increasingly complex. If a business doesn’t invest in security, it pays a triple price: it loses money, customers and reputation. To avoid this, payment security must be a priority.

By investing in payment security, the company not only reduces risks, but also builds customer trust. And trust is something that directly translates into sales and sustainable development.

As a payment integrator, bill_line builds an ecosystem where security is not an option, but a basic setting. And that’s why we believe: the best strategy against fraudsters is to always be one step ahead.