The hidden costs of pause and resume payment processing - Cognia - ContactCenterWorld.com Blog
Merchants lost a significantly higher percentage of revenue to fraud in 2014 at 0.68 percent, compared to 0.51 percent in 2013, according to LexisNexis. And ‘pause and resume’ isn’t helping.
‘Pause and resume’ does nothing to address the risk of fraud posed by malicious call center employees and is open to manual and system gaps that can make complete credit card details available to any hacker analyzing call recordings.
Designed originally as a way of complying with the Payment Card Industry Data Security Standard (PCI-DSS), ‘pause and resume’ payment processing has since proved to be ineffective, posing significant risks to customer data security.
The risk of fraud, however, isn’t the only hidden cost of ‘pause and resume’.
There are three main costs, beyond fraud, that call center managers should be aware of when assessing if ‘pause and resume’ is still fit-for-purpose in their business.
The hidden cost of compliance
There are 904 separate reporting entries in PCI DSS version 3.0 and they take time and money to comply with. ‘Pause and resume’ does nothing to reduce this cost.
On the other hand, cloud-hosted dual-tone multi-frequency (DTMF) suppression ensures that sensitive payment data never enters your contact center or reaches your agents, eliminating over 90 percent of those reporting entries from your costly compliance list.
The hidden cost of compliant resolution
By pausing the call recording, call centers are open to both malicious agent activity and attempted scams from customers.
Without a complete audit trail, either side can claim something was promised or certain permissions were given and you may be left having to invest time and money resolving a claim for which you have no evidence either way.
The hidden cost of lost sales
Customers are constantly being told to be vigilant for potential fraud risks when handing over their card details. London’s Metropolitan Police website, for example, advises:
Writing payment card details on a form or giving details over the phone is inherently less secure that using a secure web site due to the human interactions.
Customers are looking for a clear and robust process which protects the privacy of their card details. ‘Pause and resume’, however, is a hidden compliance process that offers no reassurance to the customer and could be costing a fortune in lost conversions.
When you add it up, can you really afford to continue with ‘pause and resume’ payment processing? Or is it time to find a more efficient way to remain compliant and a better way to mitigate risk.
Learn how Cognia can help alleviate PCI compliance burdens
Publish Date: March 30, 2016 5:00 AM
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