According to a recent Ponemon Institute study, the 2010 U.S. Cost of a Data Breach, the average cost of a breach is $214 per compromised record. On top of the direct and indirect costs associated with a data breach, there's also the very real issue of losing customer trust- which can be devastating to a business.
The Payment Card Industry (PCI Compliance) has set guidelines that requires sellers to meet a "minimum security standard" to protect customers' payment card information against data breaches. It's a requirement for all merchants that store, transmit, or process payment card information from their websites. Following PCI's guidelines PayPal today announced a significant update to PayPal Payflow Link that provides merchants with peace of mind and buyers with a streamlined purchasing experience.
"Payflow Link now accepts and processes online card payments securely through more Payflow Link hosted templates, leaving the data security to us and simplifying your PCI compliance management. In addition, Payflow Link's embedded checkout template means customers don't have to leave your site at checkout in order to buy securely, giving them a user-friendly and seamless checkout experience, while you can rest assured knowing the customer data is being taken care of by PayPal's team of experts," informs PayPal.
Key benefits of this update include:
- New, flexible hosted templates, including an embedded checkout template that keeps customers on your site
- Works with a PayPal merchant account or can integrate with your existing merchant account
- PayPal experts handle data security and help you manage PCI compliance, so you avoid the rising cost and concerns of keeping payment information safe and stay focused on growing your business
- Convert more customers by opening the door to more than 100 million PayPal users who look for the peace of mind of PayPal's fast, easy, secure checkout and buyer protections when they shop.
For more details and to get up and running with PayPal Payflow Link, visit this link.