During our analysis of EMV compliance companies we spend time evaluating their approach to ensuring a high level of network security in the infrastructure of their clients. We ensure the vendors which we recommend have an in-depth understanding of the best practices for ensuring the prevention of unauthorized access to network resources while ensuring all accesses and processes are being properly audited.
It is also important for the vendor to ensure the client is taking all steps required to automatically detect potential sources of fraud and risk to their business in regards to accepting payments for the products and services they provide. Having built-in fraud detection practices can ensure that many risk factors are being actively taken into consideration in order to prevent chargebacks and the threat of fraudulent transactions.
Time should also be spent determining any weak points in the payment process or storing of their client information in order to make the process of accepting and processing payments more efficient. Efficiency can lead to higher profit margins and a smaller margin of error over time as all transactions are processes quickly while also having a clear process with tracking and monitoring for future auditing and analysis.
One of the most important factors during our analysis is determining to what extent the vendor ensures compliance with the latest EMV standards and practices. EMV standards are clear cut in many cases and require professionals which have an in-depth understanding of them in order to ensure clients meet them. We investigate their method of determining their compliance with the well-developed standards and requirements.
Often times clients receive a report of the findings from the EMV compliance company and may have questions about the information being provided to them. It is vital for the vendor to offer the client guidance on how to resolve any issues or warnings which may have been provided to them. We ensure the vendors we recommend make themselves accessible to the client prior to, during, and after the analysis.