The security of online payments is a critical concern and an ongoing battle for businesses and consumers alike.
Keeping your ecommerce system up to date is an essential part of this.
On 30th June 2018, an important protocol for encrypting payments data worldwide is being updated.
After this date, payment providers like PayPal and other card processors will be unable to process payments from systems still using the old protocol.
Many small businesses have not yet made the necessary updates.
Why is this happening?
Payment security is governed globally by the Payment Card Industry (PCI) Security Standards Council which reviews and updates standards.
Back in 2015, the PCI announced that it would be updating an important protocol for the encryption of payments.
The deadline for updating systems – 30th June 2018 – is fast approaching, but many businesses still have not made the necessary change.
What is required?
Businesses processing PayPal or card payments online must update their security encryption to Transport Layer Security (TLS) 1.2.
If you haven’t done this by 30th June, online payments will fail.
Our systems (and those of other card processors) will not be able to accept online payments that have not been encrypted using TLS 1.2.
Who can help me?
If you have your own IT specialist:
- Ask your system administrator or web programmer if your site has been updated.
If you don’t have your own IT team:
- Ask your web hosting company or ecommerce software provider if your site has been updated.
When should I act?
Now.
Your ecommerce system must be updated by 30th June or customers’ payments will not be processed and you risk losing business.
Where can I learn more?
Other resources:
The information in this article does not constitute business advice of any kind and does not count as a substitute for any professional advice.