The Customer Vault was designed specifically for businesses of any size to address security concerns about handling customer payment information. Visa and MasterCard have instituted the Payment Card Industry (PCI) Data Security Standard to protect cardholder data wherever it resides ensuring that members, merchants, and service providers maintain the highest information security standard.
These associations have also deemed that merchants will be held liable for any breach of cardholder data. This has become a major concern for merchants who may handle credit card or electronic check payments, but are looking to avoid the tremendous costs and resources involved in becoming PCI compliant.
The Customer Vault allows merchants to transmit their payment information through a Secure Sockets Layer (SSL) connection for storage in our Level 1 PCI certified data facilities. Once the customer record has been securely transmitted to the Customer Vault, the merchant can then initiate transactions remotely without having to access cardholder information directly. This process is accomplished without the merchant storing the customer's payment information in their local database or payment application.
Furthermore, using CyoGates Browser Redirect Method in conjunction with the Customer Vault allows merchants to process transactions without transmitting any payment information through their web application. This unique approach provides best of class application flexibility without any PCI compliancy concerns. The CyoGate Redirect API (Advanced Programmers Interface) is available by request of the project manager.
If, like most merchants, you're concerned with PCI compliance, CyoGate also offers PCI Compliance Certification that includes a $50,000.00 insurance policy per occurrence in the event of a merchant breach.
An Internet Merchant Account is sometimes referred to as a "MOTO" (Mail Order & Telephone Order) Account because they all require the ability to process a credit card payment when there is no physical credit card present to be swiped. A standard retail "swipe" merchant account does not allow processing of these "card-not-present" transactions.
If the domestic banks are denying your merchant application because they believe your industry is considered high risk, CyoGate can help! We have an offshore network of merchant processing partners that enable us to provide low cost, high risk merchant solutions to a much wider range of businesses and industries.
The CyoGate Internet Payment Gateway offers one of the quickest and most cost effective ways to accept and process credit card and electronic check payments online. Our payment gateway works with most existing merchant accounts and supports hundreds of popular web shopping carts and eCommerce platforms.