Compliance & security

PROTECTION AGAINST FRAUD

CARD-PRESENT TRANSACTION SECURITY

EMV (chip card) Technology

Avoid liability for fraudulent transactions by having a compliant EMV solution. We were pioneers in delivering EMV-enabled solutions in order to provide better protection from fraudulent activity. Our point-of-sale terminal solutions provide faster checkouts and better security. Accept contact and contactless cards with innovative, future-proof payment devices, in-store or on-the-go.

POINT-TO-POINT ENCRYPTION (P2PE)

BUILT-IN FRAUD DETECTION

• Tracks and monitors customer activity through the entire site across multiple devices
• Within seconds of a payment, a Risk Score is given to every transaction to determine the likelihood of fraud
• Works entirely in the background and will not interrupt customer shopping experience

TOKENIZATION

Tokenization is a data security method that replaces credit card information with a token – a random value that retains the card’s essential information without compromising security. Bonafides’s tokenization technology allows access to billing data without needing to store credit card information. This is especially helpful for recurring or subscription billing purposes.

Each token is linked to a single customer profile and can be used to complete a purchase transaction. Merchants can safely process transactions while reducing the risk of having sensitive data fall into the wrong hands. The extra security allows businesses to also save time and money versus integrating with third party solutions.

SECURITY EXTENSIONS

Bonafides also provides seamless, plug and play connectivity with common third-party security extensions, including:

• 3-D Secure
• Address Verification Service (AVS)
• Card Verification Value (CVV)

Bonafides recognizes the need for the highest security available to protect our merchants and their customers. In compliance with PCI Data Security Standards, we have met and surpassed all requirements set forth as a Level 1 Service Provider.

WHAT IS PCI COMPLIANCE?

• Building and maintaining a secure network
• Protecting cardholder data
• Maintaining a vulnerability management program
• Implementing strong access control measures
• Regularly monitoring and testing networks
• Maintaining an information security policy

In accordance with these guidelines and with a third-party security assessment, Bonafides has been issued a certificate of PCI Compliance toward the requirements of the Payment Card Industry (PCI) Data Security Standards (DSS) validation methods.

You can find these standards on the PCI SSC’s Website at the following link: https://www.pcisecuritystandards.org/security_standards/pci_dss.shtml

Bonafides offers a suite of tools to empower business owners to become and remain PCI compliant.

In our ongoing efforts to make payments safer, we are also a Participating Organization members of the PCI DSS Council.

In 2015, Visa and MasterCard are requiring all U.S. merchants to convert their point-of-sale hardware to accept EMV chip cards or potentially be held liable for fraud that occurs at their business. We have been a trailblazer in the industry, making it simple and affordable to upgrade to secure platforms, ensuring consumer confidence and safety.

WHAT IS EMV?

WHAT MAKES EMV DIFFERENT?

on a chip-embedded card that utilizes dynamic authentication, than on a static magnetic stripe card. Instead of swiping the card, it is inserted into, or tapped on the terminal. Chip cards are more secure than regular cards because they offer better encryption.

HOW DOES EMV BENEFIT YOUR BUSINESS?

EMV provides increased security and faster checkout times. Card disputes will be reduced since the customer keeps their card in hand and security is improved because card data is passed directly to the payment processor.

Merchants also benefit from:

• Protection against counterfeit cards with more robust card authentication.
• Fewer chargebacks and reduced liability due to fraud from non-compliant transactions.
• Improved bottom line – secure shoppers make for satisfied, repeat customers!

AUTOMATED UNDERWRITING

CHARGEBACK MANAGEMENT

A chargeback occurs when a customer contacts a credit card Issuing Bank to initiate a refund for a purchase they made on their credit card. The reasons why chargebacks arise can vary greatly but generally, they are the result of a customer being dissatisfied with their purchase.

Our Merchant Dashboard alerts business owners of chargebacks should they occur and offers tools to assist in disputing or resolving them, quickly and efficiently.

We also offer a number of best practices for avoiding chargebacks. After all, the best way to deal with any chargeback is to prevent it from happening in the first place.

IN-HOUSE COMPLIANCE SPECIALISTS

We ensure that our partners receive the highest levels of compliance support available. With experienced and dedicated in-house specialists by your side, they act as your eyes and ears for everything related to bankcard rules and regulations, registration requirements, government rules and more.