Standards for Technology in Automotive Retail
Credit Card Processing enables businesses to expand payment options and therefore may increase revenue. Below are features that should be evaulated when choosing Payment Gateways and credit card processing devices and service providers:
SSL Security - socket Level Security with a high level of encryption
Fast processing speed - authorization responses should be 10 seconds or less
Multi-currency support: - offers the ability to accept payments from other countries.
Application transparency - keeps the domain name (URL) pointed to your site to avoid customer concerns over security.
Full, partial and blind credits - allows you to issue refunds for the full amount, part of the original amount and in the absence of an original transaction through a secure web interface.
Email notification options - enables customers and/or merchants to receive an email once a payment has been made.
Customizable email - allows merchants to create the content of the emails that will be sent to customers for successful or denied transactions.
AVS Support - configurable settings that let merchants define the degree to which billing address info needs to match that on file with the cardholder's bank prior to approving the transaction.
CVV2/CVC2 Support - reduces the risk of fraud by requiring that the codes on the back of VISA and MasterCard credit cards be entered into the payment form for verification. Web-based Reporting Access to standard and customized reports via a standard web browser.
Transaction Management - provides a browser-accessible method of voiding, crediting, reauthorizing and setting transactions, as well as viewing transaction level detail.
Multiple settlement options - enables scheduled automatic transactions settlement on a manual basis.
Support availability - technical resources readily available to answer your questions with respect to transaction processing.
Data redundancy - robust technical infrastructure, including redundant servers, connectivity and redundant data center. Eliminates risk of data loss.
All stored or saved account numbers must be encrypted when stored and masked when displayed.
All paper-based CC transactions such as mail back forms or faxes must be secured in a locking cabinet or other secure method and then properly destroyed once processing is complete.