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Exam Code: PCIP3-0 Practice exam 2022 by team
PCIP3-0 Payment Card Industry Professional

The qualification exam is administered at a Pearson VUE Test Center. You will have 90 minutes to complete 75 multiple-choice questions. No electronic devices may be used during the closed-book exam.

All scheduling/rescheduling is done via Pearson VUEs online scheduling system – you select the test location, date and time most convenient for you.
You will receive an email containing Instructions and a voucher to schedule your exam within 2-3 business days of payment processing.
If you choose the Exam-only or instructor-led class option, the exam must be completed within a 30 day test window. If you choose the eLearning Course, the exam must be completed within a 90 days test window. Exam Results and Next Steps

Pass/Fail results are provided immediately following the conclusion of your exam.
Passing candidates will receive a Certificate of Qualification via email within 2-3 business days.
If a passing score is not achieved, a total of three (3) attempts are permitted (a retake fee will apply).

The Payment Card Industry Professional is an individual, entry-level qualification in payment security information and provides you with the tools to help your organization build a secure payment environment. Becoming a PCIP demonstrates a level of understanding that can provide a strong foundation for a career in the payments security industry. This renewable career qualification is not affected by changes in employment assignments and stays in effect as long as the individual continues to meet requirements. This three-year credential also provides a great foundation for other PCI qualifications.

- Support your organizations or clients ongoing security and compliance efforts through your knowledge of how to apply PCI Standards
- Gain recognition of your professional achievement with this renewable three-year industry credential
- Become part of a PCIP community where knowledge and best practices can be shared
- Launch your career in the payments industry with a competitive advantage
- Listing in a searchable directory on the PCI website
- Earn Continuing Professional Education (CPE) credits

This course outlines the PCI Standards and provides you with the tools to build a secure payments environment and help your organization achieve PCI compliance. Course highlights include:

- Principles of PCI DSS, PA-DSS, PCI PTS, and PCI P2PE Standards
- Understanding of PCI DSS requirements and intent
- Overview of basic payment industry terminology
- Understanding the transaction flow
- Implementing a risk-based prioritized approach
- Appropriate uses of compensating controls
- Working with third-parties and service providers
- How and when to use Self-Assessment Questionnaires (SAQs)
- Recognizing how new technologies affect the PCI (e.g. virtualization, tokenization, mobile, cloud)

Payment Card Industry Professional
PCI-Security Professional study
Killexams : PCI-Security Professional study - BingNews Search results Killexams : PCI-Security Professional study - BingNews Killexams : Payment Card Industry (PCI) Data Security

The University at Buffalo is committed to providing reasonable accommodations to individuals with any disabilities. If you require accommodations to participate in this session, please contact Organizational Development and Effectiveness (ODE) at (716) 645-4459 or prior to attending the workshop. Please allow ample time for ODE to work with the Office of Accessibility Resources to arrange accommodations.

Sun, 05 Jun 2022 12:00:00 -0500 en text/html
Killexams : 6 security analyst job description red flags that make hiring harder

Hiring for the role of security analyst—that workhorse of security operations—could get even harder.

Demand for the position is expected to grow, with the U.S. Bureau of Labor Statistics predicting organizations to add tens of thousands of positions through the decade, with employment for security analysts expected to grow by 33% from 2020 to 2030—much faster than the average for all occupations.

That makes the security analyst role among the top 20 fastest-growing jobs in the nation.

Such news comes at a time when CISOs and other enterprise security managers already report challenges in finding people to fill the post.

That’s making it harder for CISOs to secure their organizations. The 2022 CISOs Report from security vendor SpyCloud found that CISOs cited the lack of skilled personnel as the top issue when asked what inhibits their ability to establish effective cybersecurity defenses. And the 2022 Voice of the CISO Report from security vendor Proofpoint found that half of surveyed CISOs report believe that the exact spike in employee transitions make protecting data more challenging.

Given such dire numbers, CISOs should take care not to stack the odds against themselves with job postings that scare off applicants. Think that’s not you? To be sure, check out these red flags that veteran security leaders say make hiring harder:

Copyright © 2022 IDG Communications, Inc.

Sun, 17 Jul 2022 21:00:00 -0500 en text/html
Killexams : 6 Confusing Things About Accepting Credit Cards
  • Credit card processors offer a wide range of fee structures and contract terms.
  • Depending on the type of business you have, some pricing structures are better than others.
  • You should review all the details of your payment processor’s terms and fees before you sign a contract.
  • This article is for small business owners who are looking for a credit card processor.

The fine print on personal credit cards can drive anyone crazy, and the terms for accepting credit cards at your business aren’t any different. You don’t need to be a contract lawyer to understand the terms and conditions from your credit card processor, but you do need to thoroughly read the contract so you understand how it will affect your business’s bottom line.

If you’re a small business owner looking to accept credit cards as a method of payment, confusing credit card processing rates, lengthy service contracts, and complicated compliance issues might leave your head spinning. To help you make sense of accepting credit cards, we’ll go over six of the most confusing things about accepting credit cards and ways to make the process simpler.

1. Credit card processing quotes

The most confusing part of accepting credit cards is the pricing, said Deborah Winick, principal and merchant services advisor at credit card processing company BankCard Services. She said most businesses don’t really know what a competitive price quote is and rely on the integrity of sales reps.

“Most business owners are very busy, so they do what seems like the best choice [and] reach out to their bank, expecting quality service,” Winick said. However, this isn’t always what businesses get. “The banks, for the most part, outsource merchant services … as funny as it seems, they really do not know much about the industry.”

Instead, Winick advises businesses to find sales reps with at least two years of experience, get two or three quotes from vendors, and ask for full disclosures of all rates and fees in writing.

Did you know that more than a third of small businesses in a Weave study said they overpay for credit card transaction fees? This could be because the processor they chose has a fee structure that is not optimal for their type of business. Different fee structures benefit different types of businesses. 

For example, a flat percentage with no per-transaction fee is best for companies that make many small sales, like cafes. A lower percentage with a per-transaction fee is best for companies that make less frequent sales on higher-ticket items, such as furniture retailers. Look for a processor with the pricing model that will cost your business less overall. 

Although you can change credit card processors if you are not satisfied with their service and fees, the process is a hassle that can result in downtime and the need to purchase new equipment and possibly a new POS system. Try to choose a processor that can serve your needs as you grow. You may be able to start out with one pricing structure and move to another as your volume increases.

TipTip: When assessing card processors, compare not just the fees themselves, but the services provided for that fee. Some credit card processors have a no-frills fee that looks like a bargain until you start adding services that carry an additional monthly charge.

Editor’s note: Looking for the right credit card processor for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

2. Pricing models

The pricing for credit card processing also often confuses business owners because there are so many pricing models.

“There are several different pricing methods, but the two most popular are tiered pricing and interchange-plus,” said Amad Ebrahimi, founder of merchant accounts comparison site Merchant Maverick.

In tiered pricing, merchants qualify for different vendor-determined rates, while interchange-plus uses rates set by the credit card brand, such as Visa or Mastercard.

“Interchange-plus is a much more transparent model of pricing, but it also leads to more confusion if the business owner does not understand what the pricing entails,” Ebrahimi said.

You should research the type of pricing credit card processors offer and determine whether you can afford those fees, given your cash flow and customer base. Ebrahimi also advises business owners to gather as much specific information as possible about the processor’s rates to avoid surprises later on. [Check out five tips to reduce your credit card processing fees.]

Did you know?Did you know? Interchange rates depend on the type of card used. Companies whose customers primarily use personal Visa or Mastercard debit cards benefit from the lowest rate charged by interchange-plus processors. Businesses with more complex card use may be better off with a tiered pricing model.

3. Contract terms

No one likes to read lengthy contracts, but it’s necessary in business. The contract is also one of the most important and confusing aspects of signing up with a credit card processor. Failure to completely understand your service contract could lead to some unpleasant surprises.

“These contracts can be very long, so unless the business owner takes the time to read through every line, they may be caught by surprise,” Ebrahimi said.

That happens partly because you can’t always trust what sales representatives say.

“There is really no regulation to be an agent for a merchant service provider, so there are agents out there telling a small business owner what they want to hear rather than speaking with knowledge and integrity,” said Cindy Bender, owner of Bender Merchant Services.

By not studying through contracts yourself, you risk the shock and hindrance of hidden fees and service limitations. In particular, you should ask how long the contract lasts and whether you are leasing the equipment, Ebrahimi said. Watch out for fees, including early termination, annual, setup, monthly, monthly minimum and Payment Card Industry (PCI) compliance fees, he added.

TipTip: Be wary of credit card processors that lock you into lengthy contracts and charge fees for statements, early termination, batch processing, and customer service. These are all red flags. If you see a questionable fee in the contract, ask the processor to remove it, or move on to the next payment processor.

4. PCI compliance

Credit card processing security is no joke. Failure to protect customers’ data won’t just harm your business’s reputation, it can also accrue significant costs in government and banking fines, lawsuits, and more. But PCI compliance, a set of credit card processing security standards, is another area of confusion for small business owners.

The problem is that business owners either assume that the credit card processor will handle PCI compliance or don’t know enough about security to verify whether their credit card processor is compliant. Large companies aren’t the only ones that get hacked; small businesses actually have six times the incidents of card security breaches compared to their larger counterparts, according to the Verizon Payment Security Report.

Ebrahimi urges business owners to verify PCI compliance with the processor they are considering. “Card data security is of utmost importance to your customers, so it’s essential to understand this area.”

As with pricing and fees, the best way to prevent confusion is to ask questions. Ebrahimi recommends asking vendors if their terminals and software are in fact PCI compliant.

Key TakeawayFYI: Even when working with a PCI-compliant processor, you are obligated to do your part to ensure your customers’ card data is safe. For full compliance with PCI, card numbers cannot be written down, networks must be protected from intrusion, and payment data must be encrypted, among other requirements.

5. Nonpayments

Subscriptions and recurring charges provide a great way for businesses to automate repeat business, but one major drawback happens when payments get declined.

“One thing [that] I found most confusing, and is usually a cause for lost profits, is dealing with expired or canceled credit cards for recurring charges,” said Mike Salem, co-founder and CEO of Vorex, a professional services automation provider. “Many small businesses do not have a mechanism or the technological capacity to automatically stop a service until the customer updates his or her credit card information.”

Declined payments essentially become free services, Salem added. “Many small businesses must manually monitor credit card activities on a daily basis and might not notice a nonpayment before several days have passed after a charge has been declined, which means giving out a service for free. Trying to retroactively recoup the charges for unpaid days can be frustrating.”

TipTip: Activate the account updater feature in your merchant account to update customer payment data for expired cards. Avoid unnecessary chargeback fees and lost revenue by notifying payment processors of recurring charges before you process them so the processors can make sure the card is valid.

6. E-commerce compatibility

Technology lets merchants conduct business anytime and anywhere, which is both a blessing and a curse. This flexibility creates several types of confusion for processing credit cards because not all credit card processors are compatible with all merchant services.

“Some business owners need to know that their merchant account will work seamlessly across all sales channels, like retail, e-commerce and mobile,” Ebrahimi said. “It can get confusing trying to make sure all channels can play well with each other.”

This is particularly the case with accepting credit card payments at self-hosted online stores.

“Up until recently, accepting credit cards for online payments has been a surprisingly complicated and painful process,” said Yarin Kessler, founder of online PDF conversion service PDF Buddy. “It required setting up a merchant account with a bank, signing up with a payment gateway, and then using any number of payment software solutions to integrate with your app. This meant multiple applications, fees and accounts just to get set up.”

Some credit card processing companies have made the process easier for merchants. For example, web payments company Stripe takes care of payments end to end, eliminating the need for separate merchant accounts and payment gateways, Kessler said.

“Since then, other companies like Braintree and PayPal have followed Stripe’s lead by simplifying their own processes for accepting credit card payments on the web,” he said. “Consequently, it is now vastly easier to accept credit cards for an online business than it was a few short years ago.”

TipTip: If all or most of your business is conducted online, look for a credit card processor geared toward e-commerce, such as Shopify or PayPal. These types of processors have simple integration that makes it easy to set up your e-commerce store. Learn more in our Shopify review and PayPal review.

Top credit card processors

When looking for a credit card processor, consider these top companies. 

Merchant One

  • Merchant One does not charge a separate PCI compliance fee.
  • It accepts businesses with low credit scores.
  • It costs $6.95 per month plus a flat rate of 0.29% to 1.55% for in-person transactions.

Read our Merchant One credit card processing review to learn more.


  • Square does not charge monthly fees.
  • It offers a free POS app.
  • It has flat-rate pricing of 2.6% plus 10 cents for in-person transactions.

Our Square review has more details on how this processor stacks up to the competition.


  • ProMerchant accepts high-risk businesses.
  • It’s easy to get approved.
  • You have a choice of flat or interchange-plus pricing.

Consider our review of ProMerchant if you’re looking for more information on this processor.


  • Chase has POS and e-commerce capabilities.
  • The platform is easily scalable.
  • You have a choice of flat or interchange-plus pricing.

Stax by Fattmerchant

  • Fattmerchant’s monthly fees start at $99 for high-volume businesses. 
  • It has interchange-plus pricing with no percentage markup, just a per-transaction fee.
  • It does not charge a monthly fee for businesses processing less than $80,000 per year.
  • It has flat-rate pricing of 2.9% plus 8 cents per transaction for in-person transactions.

Jennifer Dublino and Sara Angeles contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html
Killexams : The Parity Problem: Ensuring Mobile Apps are Secure across Platforms

Key Takeaways

  • Implementing a multi-layered defense that is broad and deep is critical for mobile app security, but nearly impossible to achieve using traditional approaches.
  • A broad defense covers the many different categories of attack a hacker can employ to compromise a mobile app.
  • A deep defense employs multiple means to detect and protect against each category of threat.
  • No  third-party library, commercial SDK, or specialized compiler can provide a sufficient broad and deep defense across both iOS and Android, plus the multitude of different devices — the complexity grows exponentially.
  • Automation must be built into the development process to implement broad and deep security defenses for apps across operating systems and devices.

It’s been held as common knowledge for some time that everyone “knows” Android is less secure than iOS as a mobile platform. Everyone except for consumers, it seems. A global survey of 10,000 mobile consumers from August 2021 found that the security expectations of iOS and Android users are essentially the same.

However, despite consumer expectations, while one mobile platform is not necessarily inherently less secure than the other, mobile apps rarely achieve security feature parity for Android and iOS. In fact, many mobile apps lack even the most basic security protections. Let’s examine why. 

Mobile App Security Requires a Multi-Layered Defense 

Most security professionals and 3rd party standards organizations would agree that mobile app security requires a multi-layered defense consisting of multiple security features in the following core areas: 

  • Code Obfuscation & Application Shielding to protect the mobile app binary and source code against reverse engineering
  • Data Encryption to protect the data stored in and used by the app.
  • Secure Communication to protect data as it moves between the app and the app’s backend, including ensuring the authenticity and validity of the digital certificates that are used to establish trusted connections.
  • OS Protection to protect the app from unauthorized modifications to the operating system, such as rooting and jailbreaking.

Developers should implement a balanced mix of these features in both iOS and Android versions of their app to form a consistent security defense. And they should add these features early in the development cycle – a concept known as “shift-left” security. Sounds easy enough right?  In theory, yes, in practice, it’s actually quite difficult to achieve a multi-layered mobile app security defense when using ‘traditional’ approaches. 

For years, mobile developers have attempted to implement in-app mobile app security using the traditional collection of tools available to them, including 3rd party open-source libraries, commercial mobile app security SDKs, or specialized compilers. The first major challenge is that mobile app security is never achieved via a ‘silver bullet’. Because mobile apps operate in unprotected environments and store and handle lots of valuable information, there are many ways to attack them. Hackers have an endless supply of freely available and very powerful toolsets at their disposal, and all the time in the world to study and attack the app undetected.

Mobile security requirements

So to build a robust defense, mobile developers need to implement a multi-layered defense that is both ‘broad’ and ‘deep’. By broad, I'm talking about multiple security features from different protection categories, which complement each other, such as encryption + obfuscation. By ‘deep’, I mean that each security feature should have multiple methods of detection or protection. For example, a jailbreak-detection SDK that only performs its checks when the app launches won’t be very effective because attackers can easily bypass the protection.

Or consider anti-debugging, which is an important runtime defense to prevent attackers from using debuggers to perform dynamic analysis – where they run the app in a controlled environment for purposes of understanding or modifying the app’s behavior. There are many different types of debuggers – some based on LLDB – for native code like C++ or objective C, others that inspect at the Java or Kotlin layer, and a lot more. Every debugger works a little bit differently in terms of how it attaches to and analyzes the app. Therefore, for the anti-debugging defense to be effective, your app needs to recognize among the multiple debugging methods being used and dynamically engage the correct defense, since hackers will continue trying different debugging tools or methods until they find one that succeeds.  


The list of security requirements doesn’t stop there. Every app needs anti-tampering features like checksum validations, protection against binary patching, and app repackaging, re-signing, emulators and simulators, etc. It would not be a stretch to assume that researching and implementing each one of these discrete features or protection methods alone would require at least several man-weeks of development, per operating system. And that’s being very generous in assuming that the mobile developer already possesses expertise in the specific security domain, which is often not the case. This can get complicated quickly, and so far we are only talking about a single protection category – runtime or dynamic protections. Imagine if each of the features mentioned required one or two weeks of development. 

Jailbreak/Rooting Prevention 

Next, you also need OS-level protections like jailbreak/rooting prevention to protect the app if the mobile operating system has been compromised. Jailbreaking/rooting makes mobile apps vulnerable to attacks because it allows full administrative control over the OS and file system, and thus compromises the entire security model. And just detecting jailbreak/rooting is no longer enough, because hackers are constantly evolving their tools. The most advanced jailbreak and rooting tools are Checkra1n for iOS, Magisk for Android – and many others. Some of these tools are also used for hiding or concealment of activity and managing superuser permissions – often granted to malicious apps. Net net, if you implemented jailbreak or rooting detection using an SDK or 3rd party library, there’s a good chance the protection may already be obsolete or easily bypassed, especially if the app’s source code is not sufficiently obfuscated.  

Code obfuscation

If you use an SDK or 3rd party library to implement a security protection, it’s pretty much useless inside an un-obfuscated app – why? Because hackers can simply decompile or dis-assemble the app to find the source code for the SDK using open source tools like Hopper, IDA-pro, or use a dynamic binary instrumentation toolkit like Frida to inject their own malicious code, modify the app’s behavior, or simply disable the security SDK.  

Code obfuscation prevents attackers from understanding mobile app source code. And it’s always recommended to use multiple obfuscation methods including obfuscating native code or non-native code and libraries, as well as obfuscating the application’s logical structure or flow control. This can be accomplished, for example by using control flow obfuscation or renaming functions, classes, methods, variables, etc. And don’t forget to obfuscate debug information as well. 

It’s clear from real-world data that most mobile apps lack sufficient obfuscation, obfuscating only a small portion of the app’s code, as this research study of over 1 million Android apps clearly illustrates. As the study suggests, the reason for this is that traditional obfuscation methods that rely on specialized compilers are simply too complex and time-consuming for most mobile developers to implement comprehensively. Instead, many developers implement a single obfuscation feature or only obfuscate a small fraction of the codebase. In the referenced research, the researchers found that most apps implemented class-name obfuscation only, which by itself is very easy to defeat. To use a book metaphor, class name obfuscation by itself would be like obfuscating the “table of contents” of a book, but leaving all of the book’s actual pages and content un-obfuscated. Such superficial obfuscation can be very easily bypassed.  

Data protection and encryption

Moving on to data protection, you also need encryption to protect the app and user data – there are lots of places where data is stored in mobile apps, including the sandbox, in memory, and inside the code or strings of the app. To implement encryption on your own there are lots of tricky issues to navigate: there’s key derivation, cipher suite, and encryption algorithm combos, key size, and strength. Many apps use multiple programming languages, each of which would require different SDKs or introduce incompatibilities or dependencies on code you may not control or have access to. And data-type differences can also increase complexity and the risk of performance degradation. 

Then, there is the classic problem of where you store the encryption keys. If keys are stored inside the app, they could be discovered by attackers who reverse engineer it, and once found they could be used to decrypt the data. This is why dynamic key generation is such an important feature. With dynamic key generation, encryption keys are generated only at runtime and never stored in the app or on the mobile device. Further, the keys are only used once, preventing them from being discovered or intercepted by attackers. 

And what about data in transit? TLS alone isn’t sufficient, as there are lots of ways to compromise an app’s connection. It’s important to inspect and validate TLS Sessions and certificates to ensure that all certificates and CAs are valid and authentic, protected by industry-standard encryption. This prevents hackers from gaining control over TLS sessions. And then there’s also certificate pinning to prevent connections to compromised servers or to protect the server-side against connections from compromised apps (for instance if your app has been turned into a malicious bot). 

Fraud, Malware, Piracy Prevention 

And finally, there’s anti-fraud, anti-malware, and anti-piracy protections that you can layer on top of the aforementioned baseline protections to protect against highly advanced or specialized threats. These protections may include features that prevent app overlay attacks, auto-clickers, hooking frameworks, and dynamic binary instrumentation tools, memory injection, keyloggers, key injection, or abuse of accessibility features, all of which are common weapons used in mobile fraud or by mobile malware. 

Just think about the sheer amount of time and resources required to implement even a subset of the above features. And so far, I’ve only talked about feature and function coverage required for a strong security defense. Even if you had the resources and required skill sets in-house (you don’t, but humor me), what about the operational challenges of cobbling together a defense. Let’s explore some of the implementation challenges your dev team will likely encounter. 

Implementation differences between platforms and frameworks

The next problem developers would face is how to implement each of those security features for Android and iOS given the endless number of framework differences and incompatibilities between SDKs/libraries and the native or non-native programming languages used by developers to build mobile apps. While software development kits (SDKs) are available for some standard security features, no SDK covers all platforms or frameworks universally.

A major challenge developers face when attempting to implement mobile app security using SDKs or open-source libraries stems from the fact that these methods all rely on source code and require changes to the application code. And as a result, each of these methods is explicitly bound to the specific programming language that the application is written in, and are also exposed to the various programming language or package ‘dependencies’ between those languages and frameworks. Let’s double-click on that for a moment. 

iOS apps are typically built in Objective-C or Swift, while Android apps are typically written in Java or Kotlin, along with C and C++ for native libraries. For example, let’s say you wanted to encrypt the data stored in your Android and iOS apps. If you found some 3rd party Android encryption libraries or SDKs for Java or Kotlin, they won’t necessarily work for the portion of your app that uses C or C++ code (native libraries). 

In iOS, same deal. You might visit StackOverflow and find that the commonly used Cryptokit framework for Swift won’t work for Objective C.

And what about non-native or cross-platform apps? These are an entirely different ballgame as you’re dealing with web technologies like JavaScript and non-native frameworks like React Native, Cordova, Flutter, or Xamarin which won’t work out of the box (or at all) with SDKs or libraries built for native languages. In addition, for non-native apps, you may not have access to the relevant source code files to implement encryption in the first place. 

For a real-world example of this problem, check out this Stack Overflow post by a developer who needs to build code obfuscation into an iOS app where there are multiple dependencies between React Native (a non-native framework) and Objective C (a native coding language). Because there is no built-in library in the iOS project that will obfuscate React Native code, the developer needs to use an external package (dependency #1). Furthermore, that external package has an additional downstream dependency on yet another library or package to obfuscate the JavaScript code (dependency #2). Now what happens if the developer of the 3rd party library decides to deprecate the solution? One of our customers was facing this very issue and it caused their app to fall out of PCI compliance. 

So how many developers do you think it would take to implement even a fraction of the features I just described? How long would it take? Do you have enough time to implement the required security features in your existing mobile app release process? 

DevOps is agile & automated, traditional security is monolithic & manual

Mobile apps are developed and released in a fast-paced, flexible, and highly automated agile paradigm. To make build and release faster and easier, most Android and iOS DevOps teams have optimized pipelines built around CI/CD and other automated tools. Security teams, on the other hand, do not have access to or visibility into DevOps systems, and most security tools are not built for agile methodologies because they rely heavily on manual programming or implementations, where an individual security feature may take longer to implement than the release schedule allows. 

In an attempt to bridge these shortfalls, some organizations use code scanning and pen testing before publishing apps to public app stores to provide insight into vulnerabilities and other mobile application concerns. When vulnerabilities are discovered, organizations are faced with a difficult decision: release the app without the necessary protections or delay the release to deliver the developers time to address the security issues. When this happens, it's all too often that the recommended security protections often get overlooked.

Developers aren’t lazy. The systems and tools they use for security implementation simply cannot match the rapid cadence of modern Agile / DevOps development.

Five steps for strong mobile app security and platform parity

Automation is the key to achieving security parity and strong mobile app security, in general. Here’s a five-step playbook for building mobile app security into apps during the app’s release cycle: 

Step 1: Understand clearly what security outcome is desired

The development, operations, and security teams must all agree on their expectations for mobile security. There needs to be a common understanding of the security goals that organizations can use as a starting point, such as the OWASP Mobile Top 10, the TRM Guidelines for Mobile App Security, and the Mobile AppSec Verification Standard (MASVS). Once the goals are set and the standards are chosen, all team members need to know how they will affect their workflows. 

Step 2: Mobile App Security implementations must be automated

Security is immensely complex, and coding it manually is slow and error-prone. Evaluate and take advantage of automated systems that leverage AI and machine learning (ML) to integrate security into a mobile app. Typically, these are no-code platforms, which can build security into mobile apps automatically, commonly known as a security-build system. 

Step 3: Include security as part of the development cycle - Shift-Left-Security

The shift left in the mobile app security model says that mobile developers need to build the security features at the same time as they are building the app.  

Once an automated security implementation platform is chosen, it should be integrated into the team’s continuous integration (CI) and continuous delivery (CD) processes, which will speed up the development lifecycle, and all teams — development, operations, and security — should continue to collaborate closely throughout the sprint.  Additionally, organizations can come closer to achieving platform parity by creating reusable mobile security templates for the specific security features required in each Android and iOS app.

Step 4: Ensure instant validation and verification 

Without a means to instantly verify that the required security features are included in the release, conflicts can arise at release meetings that may delay the publication of the app or its update. Verification and validation should be documented automatically to prevent last-minute release confusion.

Step 5: Keeping security development to a fixed cost

Development teams need predictability and budget certainty. By taking an automated approach to security, app development teams can reduce unexpected changes in headcount and development expenses, because it eliminates the uncertainty inherent in coding security into mobile apps manually.


The problem of security parity is a big one, but it’s part of a larger problem: a general lack of security in mobile apps, period. By embracing automation for security implementation to the same or greater degree than it has been adopted for feature and function development, mobile app development organizations can ensure that every app they release for every platform will protect end-users and the publishers themselves from hackers, fraudsters, and cybercriminals. 

Wed, 13 Jul 2022 17:18:00 -0500 en text/html
Killexams : Security Paradigms

Positioning the Security Team Through Influence Part 1

Last week I discussed how information security is broken at the relationship level . This was illustrated by highlighting some challenging outcomes from the dysfunctional communications between security teams and their business...

From Obstacle to Ally - Repositioning the Security Team Pt 1

Information Security is broken at the relationship level. Business professional see the security team as an obstacle on the worst of days and as a cost-center on the best of days. It's time for action! This series explores common...

Designing Security with Brand in Mind

Brand matters when it comes to security. The lack of consistency between risk management and corporate brand can lead to a loss of not only employee endorsement of security investments but also the trust of your internal and external...

Key Sessions at CISO Executive Summit 2011

The EC-Council will host a gathering of public/private sector information security executives and thought-leaders at the CISO Executive Summit 2011 on December 5-6 in Las Vegas. The agenda features panel discussions addressing issues...

Securing User Credentials On Mobile Devices

Your mobile device is an interface into systems that can store potentially sensitive information about you, your company or your employer. Given its ease of use and portability, one would expect to find unique, strong credentials to...

Securing Mobile Data at the Application Layer

Data Security is one of the concerns addressed in the OWASP Mobile Security Project; a project focused on the application-level risks that face mobile devices. This installment will look at some of the threats to mobile data and...

Security Metrics and the Balanced Scorecard

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Killexams : How to Accept Credit Cards
  • U.S. consumers increasingly prefer credit card payments over cash.
  • Optimize customers’ credit card payment experience takes in-depth research.
  • Card providers, equipment, costs and fees top the list of credit card payment system priorities.
  • This article is for merchants and small business owners looking for a more efficient consumer payment experience.

No matter what type of business you have, it’s important to accept credit card payments from your customers.

Consumers prefer credit cards over cash payments by a significant margin. According to a 2020 study by the Federal Reserve, 27% of U.S. consumers opted to use credit card payments, while 19% preferred paying cash. Every year, the Federal Reserve reports, the use of bank cards over cash expands.

As you adjust to a new digital-based payment marketplace, weaning you off cash payments and pushing payment models to the credit card side of the aisle makes good sense – if, that is, you are prepared for the shift to increased plastic payments.

Job one is choosing the right credit card payment service provider.

That choice can be problematic for your business, as there are hundreds of payment processing companies to choose from and several factors to consider before selecting a processor. You want to look for the best credit card processing company for your business, considering factors like low rates, few fees and month-to-month contracts.

How to start accepting credit cards 

If your business is new or not yet accepting credit card payments, you’re probably wondering how to accept plastic and how much it will cost. These steps will walk you through the process of setting up credit card processing for your business, and provide questions to contemplate. 

  1. Decide which type of processor will be the best fit for your business. Should you work with an aggregator, a merchant services provider or a direct processor? How do you know which type of credit card processing service you need?
  2. Identify how you plan to accept credit cards, and evaluate equipment options. Do you plan to accept credit cards online or at a brick-and-mortar store, or do you prefer a mobile credit card processing solution that uses a smartphone and a card reader? Do you want to accept payments multiple ways?
  3. Learn about credit card processing fees and pricing models. This helps you know what to look for, and whether you’re getting a good deal or paying more than you should.
  4. Call three or more credit card processing companies for pricing quotes. Many service providers customize their rates for each client, so you need to figure out a good deal for your unique business. You also need to know what information you should never deliver a sales rep until you’re ready to sign up with a processor.
  5. Read the contract before you choose a processor. Find out which terms are negotiable, where to find hidden fees and when you should look for a different option.
  6. Apply for a credit card processing account. Once you’ve decided which payment processor you want to work with, it’s time to apply for a merchant account.

TipTip: If you plan to use a point-of-sale system to accept credit cards, see our reviews and recommendations for the best POS systems.

1. Decide which type of processor will be the best fit for your business.

There are multiple ways to integrate a credit card payment service into your unique business. 

For example, you’ll need to choose between a card payment service that works with individuals or opt for a provider that serves only businesses. Additionally, you’ll need to factor in the average monthly volume of credit and debit card payments that you accept. 

To get the job done right, start by evaluating the following credit card payment processing solution models.

Personal use

If you’re an individual who wants to accept credit cards for personal use – for example, if you want to accept credit cards at a garage sale or for freelance work, or if your business isn’t yet official – Square is a good option. (Read our review of Square for more information.) 

Square is one of the few payment processors that works with you individually and works with your business. You will pay a small fee each time you accept a credit card payment, and there are no monthly or annual fees. Square gives you a card swiper, or you can buy an inexpensive chip card reader from the company.

If you desire the ability to accept credit card payments from friends, family, or other people you know and trust – such as the friends you split the bill with at dinner last night – you can use peer-to-peer payment services like PayPal (see our PayPal review for more information), Venmo, Apple Pay Cash, Google Pay or Zelle.

TipTip: You don’t want to use a P2P payment service to accept payments if you don’t know the individual. Beware that buyers can reverse transactions, such as in Venmo payment scams.

Small, monthly cash amounts

If your small business processes less than $2,500 per month or has small sales tickets, you want to work with a payment facilitator like Stripe (read our Stripe review for more information). 

Facilitators like Stripe are cheaper to use at this processing volume because you pay only a small fee – expressed as a percentage of each sale and, sometimes, a per-transaction fee – for each credit or debit card payment you accept. Even though payment facilitators charge a higher percentage than other types of payment processing rates, you save money because you don’t pay any other fees. 

There’s no setup fee, monthly fee (such as statement and payment gateway fees), or annual PCI compliance fee.

TipTip: Consider PayPal alternatives if you’re looking for low-volume credit card payment processors.

Merchant aggregators

Payment facilitators – also called mobile credit card processors or merchant aggregators –  sponsor multiple merchants under their master merchant accounts. This makes it easier to sign up for an account, and there are fewer fees to pay, but they can be more restrictive. 

Make sure to carefully read the user agreement to ensure the goods or services you provide aren’t prohibited. Additionally, be aware that processing irregularities – such as abnormally large transactions or a sudden spike in monthly volume – may cause your card processor to freeze your funds, which can restrict cash flow.

Key TakeawayKey takeaway: If you have small sales tickets, you can save money by choosing a credit card processing company that charges only a percentage of each sale. Some also charge a small per-transaction fee – usually 10 to 30 cents – but this adds up quickly if your sales tickets are small.

Larger monthly sums

If your small business processes more than $3,000 per month or has large sales tickets, consider a processor with lower rates like Payment Depot (read our review of Payment Depot). These payment processing companies can install a merchant account for you. 

Even though these processors may charge fees that the aggregators don’t, they offer lower rates, which saves you money when you’re processing larger sums of money every month. 

ISOs and MSPs

Independent sales organizations (ISOs) and merchant service providers (MSPs) that resell merchant accounts from direct processors offer credit card payment options for your small business, too. Because you’re still processing a lower payment volume than large businesses, you’re not likely to get better rates from direct processors. Even so, you’ll want to shop around to find low rates, few fees and a month-to-month contract.

TipTip: If you process a low volume of credit cards each month, look for a payment processor that doesn’t impose a monthly minimum – a minimum dollar amount of credit card processing fees you must generate each month.

If you process a high volume of sales each month, you could also consider working with a direct processor like First Data, Wells Fargo Merchant Services or Bank of America Merchant Services. These companies tend to be better suited for large businesses, but they will also work with your small company.

Direct processors provide merchant accounts, and have relationships with banks and credit card brands. Again, you’ll want to comparison shop for favorable rates, fees and contracts.

POS system 

If you are looking for a point-of-sale system (POS), check with the company to find out which credit card processors the POS system is compatible with, as that may limit your options. Some require you to use their in-house processing services, but the best credit card merchants allow you to work with third-party payment processors so you can shop around for low rates and fees. 

2. Identify how you plan to accept credit cards and evaluate equipment options.

You’ll want to accept credit card payments wherever and however customers want to pay. That’s the case no matter what type of credit card transaction you accept, including: in person at your business or another location, online, over the phone and through mobile apps.

Once you decide how to accept credit cards, address what kind of credit card processing equipment you’ll need. The best processing equipment will meet these standards.

EMV chip cards

All card readers can accept magnetic stripe cards, but you want a model that can accept EMV chip cards (Europay, Mastercard and Visa microchip card payments). EMV card technology protects you from liability for fraud occurring at the point of sale. EMV card readers also allow you to skip signature authentication, which can speed up the checkout process.

Ideally, the card reader will also have NFC technology, which allows you to accept mobile wallets like Google Pay and Apple Pay. This way, you won’t have to upgrade your equipment again as this payment method becomes more popular.

Nearly every credit card processor sells processing equipment, and in most cases, you’ll get at least your card reader from the company. If you already own a terminal, the processor may be able to reprogram it, though there is sometimes a fee for this service. If you want to buy peripherals from a third-party vendor, you’ll need to check with the processor for compatibility.

Upfront payment methods 

Plan to buy your credit card payment processing equipment upfront, as installment plan payment models can escalate in price. One merchant signed a lease for $99 per month with a 48-month term for a machine – in effect, paying $4,800 for a machine that costs $300 to purchase. The FTC cautions against leasing credit card processing equipment for the same high-cost reason.

Free offers 

Be wary of free credit card processing equipment, as you may be charged higher rates and additional fees – such as an insurance fee or some sort of equipment maintenance fee. Most payment providers also require you to return the equipment when you close your account.

With those tips in mind, let’s examine several solid credit card payment processing hardware and technology options.

Mobile credit card reader

This is a portable device you use with a smartphone or tablet and a credit card payment app. Some models plug into the headphone jack or lightning connector on your phone or tablet, but many newer models connect via Bluetooth. Many processors deliver customers a free credit card swiper, but you should upgrade to a model that accepts EMV chip cards and NFC contactless payments. These usually cost less than $100. 

Mobile card readers can be used as stand-alone devices or as part of a larger system. You could utilize these if your company accepts credit cards on the go. They’re also useful to process transactions from anywhere in the store during busy seasons, or if your company only runs a few transactions each day.

Credit card terminal 

This type of card reader often has a built-in receipt printer and keypad for PIN debit transactions. Countertop models connect via dial-up or Ethernet. Wireless models connect via Bluetooth, Wi-Fi, 3G or GPRS. All new models are EMV compliant so that you can accept chip cards, and most have NFC technology to accept mobile payments. Credit card terminals usually cost between $150 and $600.

Payment terminals are the most common type of processing equipment. They would be ideal for your business should your firm need a card reader to connect to or work alongside a POS system, or if you don’t need the credit card processing system to do anything but accept payments.

POS system

This is a complete checkout station that typically includes software, a tablet or touchscreen, a card reader, cash drawer and receipt printer. Some systems have built-in card readers, while others connect to or are used alongside a credit card terminal or mobile credit card reader. You can add barcode scanners and other peripherals.

Available for purchase from merchant account providers or POS companies, POS systems’ pricing depends on the type of system you choose. Tablet-based systems that work with third-party hardware are usually the least expensive. These systems are best for your company’s physical location, particularly if you want to connect to other business software. Review our best accounting solutions for software recommendations to consider.

Payment gateway

If you want to accept credit cards online – for example, if you sell goods or services through your website or an e-commerce platform – you need a payment gateway. Most credit card processors can set you up with this technology and help you connect it to your site. Some processors have proprietary payment gateways, and others set you up with a third-party gateway like Authorize.Net. 

There’s usually an additional monthly fee for this service, and some processors charge a gateway setup fee and another per-transaction fee.

Editor’s note: Looking for information on credit card processors? Use the questionnaire below and our vendor partners will contact you to provide you with the information you need.

3. Learn about credit card processing fees and pricing models.

Credit card processing fees can be confusing, and it’s beneficial to fully understand credit card payment fees. This will help you negotiate the best transaction rates for this type of service.

These are the three common types of credit card processing fees: transaction, service and incidental fees.

  • Transaction fees (or rates): These are the fees you pay for every transaction. They’re usually expressed as a percentage of the sale plus a flat fee for each exchange. For clarity, we refer to these fees as rates. Processors have different methods of calculating and charging these rates – also known as pricing models – which can make it tricky to figure out what you’ll actually pay and whether or not you’re getting a good deal. 

TipTip: Read our review of National Processing to learn about the credit card processor with the lowest transaction fees.

  • Service fees: These are monthly and annual account maintenance fees, such as statement fees and PCI compliance fees. They can also be standard fees, but the best credit card processors don’t charge service fees.
  • Incidental fees: These are fees that you’re charged on a per-occurrence basis; they’re triggered by certain actions on your account, such as chargebacks. These are also standard, but some credit card processing services may not include them.

The three most common pricing models are flat-rate, interchange-plus and tiered pricing. Here’s how each option works, along with information on which pricing model is best for your business type and size.

Flat-rate pricing

Flat-rate pricing is usually charged by payment facilitators like Square and PayPal. There are different rates based on how you accept your customers’ credit and debit cards. This is the simplest pricing model.

Here’s an example of flat-rate pricing using PayPal’s transaction fees:

  • Card present: For cards that you accept in person using a chip card reader or a magstripe card reader – either in-store or on mobile – you pay 2.7% of the transaction. This is the lowest rate because this payment method has the lowest risk of fraud.
  • Card keyed in: If your customer’s card doesn’t work and you have to key it in, or if you accept a payment over the phone and key in the card info, you pay 3.5% plus 15 cents for the transaction. This method is more expensive because you don’t use the physical card to process the transaction, so there’s an increased risk of fraud.
  • Card online: When you accept an online payment – through your website, a payment page linked to your website, or an electronic invoice – you pay 2.9% plus 30 cents. This method costs more than the card-present method because it’s a remote transaction. However, this method is cheaper than the keyed-in rate because it requires your customer to supply additional verification information – such as the CSV number and their address.

Interchange-plus pricing

Interchange-plus may be the best option for your business. Industry experts recommend interchange-plus pricing because it’s more transparent than the other pricing models: it reveals exactly how much of a markup you’re paying the service provider.

Interchange fees are set by the card associations – or card networks – that pay the banks involved in the transaction for moving money from your customer’s credit card account to your company’s bank account. There are hundreds of interchange rates, depending on the type of card and the brand. The card networks charge a small fee for each transaction. These rates are the same for every processor – regardless of whether they’re a payment facilitator, ISO or MSP, or direct processor – and they’re nonnegotiable. The only debatable part of a transaction rate is the processor’s markup.

With this model, the processor passes on to you the interchange rates and card association fees charged by the credit card networks – Visa, Mastercard, Discover and American Express – and adds a markup percentage and per-transaction fee.

When you receive a quote for this pricing model, it’s only the processor’s markup percentage and per-transaction fee that you’ll be charged. So, for each transaction, you’ll pay this amount on top of the interchange rate.

Here’s an example of interchange-plus pricing, using Helcim’s transaction fees. When you accept a credit card payment in person using an EMV chip card reader or a swiper, these are the rates you’ll pay:

  • Processor’s markup: 0.25% plus 8 cents. This is the rate you’re quoted when you ask for interchange-plus pricing. This is the only negotiable portion of this rate.
  • Interchange rate: 1.65% plus 10 cents. This is an example of what it might cost to process a retail transaction using a Visa Rewards credit card.
  • Card association fee: 0.15% plus 2 cents. This is the fee that Visa charges for credit card transactions.

Consequently, for this transaction example, the full rate would be 2.05% plus 20 cents.

Did you know?Did you know? The best processors offer interchange-plus pricing to all their customers and post their rates online. But most of the time, you have to specifically ask for it, and you may need to jump through hoops to qualify for it – such as processing a certain volume of sales each month or working with the company over an extended period.

Tiered pricing

Tiered pricing can be a good option if your customers typically pay in person using regular debit cards, though it can be expensive if they prefer to use premium rewards, corporate or international credit cards. Most processors prefer this pricing model, but industry experts advise against it, as it’s less transparent than others.

  • There’s no way to know exactly what the processor’s markup is, as each processor sets its own tiers and decides which interchange rates fall into each tier.
  • Most processors don’t post tiered rates in full online. Instead, they advertise teaser rates that apply only to regular debit cards accepted in person. Many sales reps don’t disclose how many tiers, the pricing for each tier, or what types of cards and transactions are included in each tier unless you specifically ask for this information – leaving you with a surprise when you get your first bill.
  • Transactions can be downgraded for various reasons, resulting in higher rates than those you were quoted. When you call for a quote, ask which actions can cause a transaction to be downgraded.

This list of credit card payment processors was made from Business News Daily’s best credit card processing providers:


TipTip: When you call for a quote, ask for interchange-plus rates. Otherwise, be sure to ask how many tiers there are, the rate for each tier, and which types of cards and acceptance methods are grouped into each tier. There are usually three tiers: qualified, midqualified and nonqualified. Some only have two, though, and there may be separate tiers for debit and credit cards.

​​In addition to processing rates, most full-service credit card processors charge an assortment of fees to maintain your account and provide customer support. Payment facilitators don’t typically charge these fees. Before you sign a processing contract, be sure to read it and make sure you’re aware of all the fees that the processor charges so you won’t be shocked when you get your first bill. Here are the most common service fees:

  • Monthly fee: Also called a statement fee, this covers the processor’s cost of preparing monthly statements and customer service. It usually costs $5 to $15. It may be higher if it includes a gateway fee and a PCI compliance fee. If you choose to receive paper statements by mail, there may be an additional cost.
  • PCI compliance: This fee is usually charged annually and costs around $100, though some processors either include it with the monthly fee or charge it quarterly. For this cost, service providers help you certify that your business complies with PCI guidelines. If you fail to establish your compliance, you’re charged an expensive PCI noncompliance fee each month until you are certified. Some processors offer to waive this fee for the first year when you sign up for an account. Payment facilitators are PCI compliant, so their clients don’t have to certify and pay this fee.
  • Gateway fee: If you accept payments online, you need access to a payment gateway. Usually, this fee is charged monthly and costs about as much as the monthly fee, but some processors also tack on a small per-transaction fee.
  • Monthly minimum: If you process a low volume of transactions each month, you want to look for a provider that doesn’t charge this fee, as it’s normally calculated against the processing fees you generate – not the full dollar value of each transaction. Usually this minimum is $25, though some processors set it higher. Be sure to ask the dollar amount that you need to process each month to satisfy this requirement. 
  • Incidental fees: Some fees are only charged when certain actions have taken place. For instance, if a customer initiates a chargeback, you will need to pay a chargeback fee. If you use the processor’s address verification service (AVS) or call its voice authorization center as fraud-prevention checks before you process a transaction, you pay a small fee. Again, be sure to read the contract in full before signing up with a processing company, so you know precisely what fees to expect.

4. Call three or more credit card processing companies for pricing quotes.

The best credit card processor for your business is the one that offers you the best value – with low and transparent rates, no hidden fees, and either a month-to-month contract or pay-as-you-go service. Though many of the best credit card service providers post their pricing online, some don’t, preferring to customize their rates for each client. You should plan on calling at least three processors, and requesting price quotes and a contract to review, so that you can compare rates and fees for your specific business.

Even if all top credit card processors on your list post their pricing online, it’s a good idea to call and speak with a sales rep because there may be a promotion available, or you may be able to negotiate a better deal. It also gives you a taste of the company’s customer service quality, which can be an important consideration as you’re choosing a service provider.

5. Read the contract before you choose a processor.

No one wants to read the contract before signing up for a service, but with this industry it’s necessary. If you sign up with a full-service processor, you risk being locked into its services for several years, paying more than you expected. If you sign up with a payment facilitator, you may find out too late that it has certain processing limits or doesn’t support businesses in your industry, resulting in frozen funds or a closed account.

The best credit card processing companies provide their services on a month-to-month or pay-as-you-go basis, and don’t charge any early termination fees.

Standard contracts

Used by ISOs, MSPs, and direct processors, standard contracts typically have three parts: the application, the terms of service and the program guide. Some applications have links to the terms and guide, but most often, you’ll need to ask the sales rep to send these documents to you separately.

  • Application: Usually, this form includes credit card processing rates and some fees. It asks for your bank information, Social Security number and signature. Don’t provide personal information until you’re ready to sign up for an account, have read the contract in full, and have Tested that the rates and terms are correct. Most contracts include a personal ensure that allows the processor to collect money from you directly if your business can’t pay its processing bills, and allows it to perform credit checks on you.
  • Terms and conditions: This document describes the length of the term and additional fees that your company may incur. Most have three-year terms, and automatically renew for one or two additional years if you don’t cancel in writing within a 30- to 90-day window. One clause to watch out for is “Additional Services.” Note that it doesn’t explain exactly what these additional services are or what they cost, but does mention that you have a short window – usually 30 days – to opt out if you don’t want these mystery services and fees.
  • Program guide: This is where you’ll find cancellation instructions and the fees that apply if you decide to close your account. Sometimes processors don’t provide the program guide up front, and if you don’t ask for it, it will be tucked in with the processing hardware you order. If you sign a standard contract and then need to cancel your account before the end of the term, you will be charged a steep early termination fee for hundreds of dollars. Some long-term contracts also have liquidated damages clauses that can cost you even more money. Sneaky processors may claim not to charge early cancellation fees, but instead charge early termination fees (ETFs), early deconversion fees (EDFs), exit fees or lost profit fees.

Key TakeawayKey takeaway: If the processor you are considering has a lengthy contract, ask your sales rep if month-to-month terms are available. Also, request to waive the early termination fee and any liquidated damages.

User agreements

Most payment facilitators have user agreements instead of contracts. These are much shorter, but still important to thoroughly read. You want to check the list of prohibited goods and services to ensure the processor will work with your business. You also want to read the processing contract terms to find out if there are any processing limits, to make sure they won’t affect your business. One factor to keep in mind is that aggregators are very risk-averse and will freeze your funds if there’s anything about your transactions that looks suspicious, such as a sudden spike in volume or transaction size.

6. Apply for a credit card processing account.

This is the easy part! Once you’ve decided which payment processor you want to work with, and have read the contract to verify that the rates and fees match what you were quoted, it’s time to apply for an account.

When you sign up for a merchant account with an ISO, MSP or direct processor, you fill out the application portion of the contract. This is often online, but many sales reps are happy to walk you through the application over the phone. You provide details about both your business and yourself, including your employer ID, Social Security number and bank account information.

The processor then reviews your application and sets up your account. This usually takes up to two days; some processors can get it done the same day you apply, while others take up to a week. Your sales rep can help you decide what processing equipment you need and any extra features – like gift cards and loyalty programs – are needed. Once your equipment arrives, the processor will help you set it up and test it to make sure it works properly, and ensure you know how to use it.

If you sign up with a payment facilitator instead, the process is very easy. You fill out an online form to create your account by entering some brief information about yourself and your business. Then, you can order processing equipment and get the app onto your phone or tablet.

Frequently asked questions about credit card processing

What is credit card processing?

Credit card processing is a series of actions that securely move money from a customer’s credit card account to your company’s bank account. It takes multiple parties to do this – credit card companies, banks and processors – and each of them takes a portion of the transaction fees you pay the processor in exchange for their services.

How does credit card processing help my business?

Credit card processing helps your business by offering your customers more payment options. With it, you can accept all major credit cards and debit cards. With a new credit card reader, your business can accept payments using contactless cards and mobile wallets, such as Apple Pay and Google Pay.

What are the benefits of credit card processing? Can’t I just accept cash?

You could just accept cash – and some businesses do – but you risk losing business from customers who prefer to pay with credit and debit cards. According to the Federal Reserve’s 2018 report on the Diary of Consumer Payment Choice, 30% of all transactions are paid in cash, 27% using debit cards and 21% credit cards. Of course, these numbers shift depending on the dollar amount of the transaction, the type of business you have and your customers’ age.

What is a merchant account? Do I need one?

ISO, MSPs and direct processors can set you up with a merchant account and a merchant ID (MID). They then act as the liaison between your business and your customer’s credit card company or bank. They process payments and make sure the money is appropriately withdrawn from a credit card account. Once the money clears all of the processing protocols, it can be transferred to your company’s bank account.

Payment facilitators set you up as a submerchant under their merchant account. The pros of this arrangement are that it’s very easy to set up your account, the company takes care of PCI compliance, and there are usually no monthly or annual fees. The cons are that there are more restrictions on your account, the processor won’t work with certain business types and there are limits on how much you can process. If you process more than $100,000 a year, you’ll be required to get your own merchant account.

How does credit card processing work?

When your customer inserts a card into the credit card reader, the data on the card and a request for payment is securely transmitted between the processor, the credit card network and the bank that issued the card. The bank that issued the card authorizes or denies the payment request, and the information is transmitted back through the credit card network, the processor and the merchant bank. At the end of the day, the merchant batches its transactions and the data again travels through these channels to debit the customer’s credit card for the amount of the transaction, and deposits the funds into your business bank account.

What are the best ways to use credit card processing?

The best way to use credit card processing is to accept payments across every channel your customers want to use – whether that’s in person at your physical business location, using a mobile device if you’re working offsite, or taking payments online through your website or electronic invoices. Depending on how your business works with customers, you may need to utilize multiple acceptance methods.

What kind of cost should you expect for credit card processing?

No matter which type of processor you work with, you’ll pay transaction fees for every card payment you accept. If you work with a full-service processor, you’ll also pay a variety of other fees.

What is the average fee for credit card processing? What kinds of fees come with credit card processing?

For each transaction, you’ll pay a percentage of the sale (usually 2% to 4%) and often a per-transaction fee (usually 10 to 30 cents). If you work with a payment facilitator, there usually aren’t any other fees. But if you want your own merchant account, you’ll have account service fees – such as a monthly fee, gateway fee and an annual PCI compliance fee.

How much are credit card fees for merchants? For customers?

It depends on several factors, such as the types of cards your customers use and how you accept them, the processor you work with, and the model it uses to calculate your fees.

Most processors prefer to use the tiered pricing model to calculate your processing costs, but industry experts recommend the interchange-plus pricing model, as it’s more transparent. You’ll want to ask which pricing model the company uses when you call for a quote.

Customers don’t usually pay credit card fees directly. Most of the time, you can include this expense in the prices you charge customers. Although it’s legal in most states to add a surcharge when customers pay by credit card, or to set a minimum purchase requirement, it annoys customers.

What kind of equipment do you need for credit card processing?

The type of equipment you need depends on how you plan to accept cards. If you have a countertop checkout station in your brick-and-mortar location, you’ll need a credit card terminal. If you plan on using a POS system, check with that provider before choosing a processor to make sure you choose one that’s compatible. If you want a mobile credit card processing solution, you’ll need a credit card reader that either plugs into your phone or tablet, or connects via Bluetooth.

Brian O’Connell contributed to the reporting and writing in this article.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html
Killexams : BFTBankingSurvey2022: Fraud & cybersecurity for the digital world

Modern society holds an optimistic view of technology and its increasing variety and sophistication. Digital technology has succeeded in transforming our observation and experience of the world. It is increasingly becoming apparent to businesses worldwide that they operate in digital ecosystems and the constellation of key actors that consistently erase transaction barriers. Businesses, including banks and other providers of financial products and services, rely on these ecosystems to buy and sell their ideas and output. More importantly, transactions in these ecosystems transcend both traditional allies and potential competitors.

With the immediate requirement for a more digital approach, digital transformation has become a key priority for banks and other financial institutions within the country and across the globe. The COVID-19 pandemic has significantly influenced how businesses and consumers utilise banking products and services, and how they interact with other providers.

This development has urged banks to increasingly manage their services as products, deploy information technology (IT) professionals to oversee their digital strategies, and to take proactive steps toward increasing internal effectiveness to affirm their enviable role in a highly competitive market. The foregoing ensures enhanced efficiency in the delivery of financial products and services, and effectiveness in internal product and operations management.

Digital transformation and banks’ services delivery

Information technology services have been identified as an essential component of digital transformation. Realising the digital transformation objective without adequate investment in information technology remains a challenge in many global organisations, including banking institutions in the country.

Generally, customers envisage and look forward to having exceptional product experience from their respective banks, and that banks that are successful in their strides tend to reduce churn, increase loyalty, and have tangible impact on growth. Contemporary digital transformation strategies of banks provide economic support for various business capabilities. Banks that are noted for rigorous pursuit of digital transformation and provision of improved digital services are often characterised by responsiveness and efficiency with its attendant benefit of customer centrism and stickiness.

Improvements in internal efficiencies allow banks to be effective and innovative, and to deliver a better customer experience. Banks’ responsiveness to digital transformation would enable them to remain agile and receptive to the market and its growing needs. Thus, improvements in the business capabilities of financial institutions are of the essence in the era of digital transformation and its attendant risks manifesting in fraudulent digital activities.

The digitisation age is believed to have increased access to businesses, organisations, banking and financial services. Unfortunately, the digitisation drive has brought in its wake growing appetite of individuals and syndicates for bank, physical and cyber fraud. One of the overarching responsibilities of any bank or financial institution is to protect the institution’s integrity, and integrity of financial transactions in a manner that exudes confidence in the banking population.

However, realisation of the foregoing becomes feasible when banks strategically invest in protective infrastructure, and work hard to secure the financial assets that they hold and manage. A major threat to adequate protection of banks’ assets is fraud which explains the growing appetite of system hackers, individuals and syndicates for unethical and criminal access to and possession of funds and assets of targeted banks, their clients; or both.

Undoubtedly, the pace of digital transformation remains a common knowledge to most people in technology and business. And although the adoption and uptake were gathering steam prior to 2020, the pace is believed to have witnessed further acceleration during the pendency and after the COVID-19 pandemic. Increasing use of digital technology makes cybersecurity a top priority among banking institutions; and unfortunately, for cyber miscreants alike.

Banks remain flexible in their adaption of digital technology; and response to changes in the digitisation age. This flexibility has influenced IT teams in banks and other financial institutions to shift their focus from project-oriented approach to product-oriented approach. Stated differently, the IT teams in financial institutions including banks are concerned about how they could leverage the massive investment in technology infrastructure by their respective institutions to create more digital financial products and services to meet growing specific needs of existing customers and prospects.

Technology is no longer seen as an enabler of banking services, it is actually now the business of banks. Indeed, the orientation of banks towards digital technology has resulted in iterative improvements and provision of more value-added services; while keeping banks aligned to critical business outcomes.

It remains a fact that sophistications in modern technology keep changing on continuous basis; and these changes enhance competitiveness, profitability and growth of banks and other financial institutions. The foregoing notwithstanding, the incidence of fraud within the banking sector appears to run parallel to the improvements in financial digital technology and infrastructure. That is, increased digital transactions have created conduits for high risk transactions in the banking sector. Stated in different terms, increased volume of transactions through electronic payments (e-payments) heightens fraud attempts in the banking sector; albeit most fraud attempts turn out to be unsuccessful.

Recent trends in fraud

Generally, spike in fraud attempts on financial institutions tend to be on the ascendency whenever there are global crises such as pandemics, social unrest, crash of the financial system and economic downturn. During these unsocial periods, fraud is believed to be motivated by need or perceived need occasioned by heightened concerns over financial security. The incidents of fraud during these periods could be broadly categorised into loan fraud, cyber-attacks, employee fraud, Ponzi schemes and management fraud.

The exact economic lockdown that emanated from the outbreak of the portentous COVID-19 pandemic was described by some experts as perfect climate for fraud to germinate and gather pace, with banks being the worst victims. A exact study of over two thousand (2,000) executives across the globe by FTI Consulting (as cited in Durant, n.d.) revealed fraud was perceived as the number one financial crime during 2019 as 24 percent of the respondents reported their exposure to it (fraud), and implying a whopping £5billion was lost to bank fraud alone during the period.

The statistics lend credence to the assertion that COVID-19 has had significant impact on the global landscape of cyber threats and that, fraud or cybercrime would cause substantial financial damage and pose a serious threat to society and the global economy. Further, cybercrime would have indirect effects in undermining the public’s confidence in digital transformation and overall trust in technology.

Data released by the World Economic Forum (2020) revealed cybercriminals steal an estimated US$600billion each year from governments, companies and individuals, while the overall loss of company revenues over the course of five years (that is, from 2019 through 2023) would be equivalent to US$5.2trillion. exact report published by Interpol (2020), which surveyed 48 member-countries and four partners about the impact of COVID-19 on cybercrime indicated that 907,000 spam emails, 737 malware incidents, and 48,000 malicious URLs were detected between January and April 2020 alone.

Similarly, the 2020 Banking Industry Fraud Report released by the Bank of Ghana suggested that suppression of cash remained the dominant reported fraud case (56 percent), and more troubling was the fact that for 93 percent of all reported cash suppression cases, staff of the reporting institutions were found culpable. Statistics shared by the Bank of Ghana (2020) depicted persistent trend of staff involvement in fraud since 2017 through 2020, and this is in spite of numerous notices of caution to institutions within the financial sector.

In 2019, a surge in fraud related to E-Money transactions witnessed significant increase from 1.1 percent of total losses incurred to 4.1 percent during 2020, while the incidents of fraud related to E-Money surged from 0.6 percent during 2019 to 4.7 percent during 2020.

The reduction in rate of success for most fraud types during 2020 accounted for the minimal decrease in actual losses, albeit marginal increase in reported fraud incidents was recorded during the period. Additionally, the reported fraud value (including unsuccessful attempts) for 2020 of about GH¢1billion remained 8.7 times; or 765.73 percent more than the value recorded during 2019 (GH¢115.51million).

The FTI Resilience Barometer 2020 Survey (as cited in Durant, n.d.) identified fraud as the leading financial crime during 2020, with 28 percent of the sampled executives affirming belief in their companies’ exposure to fraud. Similar statistics released by ONS (as cited in Durant, n.d.) revealed fraud experiences that followed the 2008 financial crisis was 15 percent. The trends point to higher prevalence of fraud during 2020 and beyond. The survey findings suggested that in spite of the enormous benefits associated with digital technology, there are potential threats that lurk behind every technology device and platform.

Evidence suggests threats, including ransomware, phishing and accounts takeover, posed by modern technology to cybersecurity are not only real, but also menacing in some cases. For instance, bitcoins valued at over US$100,000 were stolen from some billionaires including Bill Gates, Jeff Bezos, Warren Buffett, Elon Musk, and others’ accounts on Twitter during 2020 (Raza, n.d.). During the same period, Zoom was saddled with myriad security challenges, with the most glaring being the sale of approximately 500,000 user accounts on a dark web forum (Raza, n.d.).

Statistics released by the Credit Card Association of the Philippines (as cited in, 2022) affirmed 21 percent increase in credit card fraud in the country since the outbreak of COVID-19. The high volumes of fraud cases recorded by the financial industry through various digital payment platforms are believed to be financially detrimental to banks and other financial services providers. A silver lining of COVID-19 in the Philippines, just like in Ghana, relates to the fact that it impelled the country to fully embrace digitisation.

In spite of its sterling attributes and positives, the digital transformation process of banks may be mired by factors such as lack of dedicated skills in emerging information technology, absence of organisational change management to handle process-driven fraudulent activities, and aggressive and evolving digital demands of customers. Other factors include lack of clear strategy to handle threats to digital expansion, budgetary constraints and concerns, inefficient business processes, ineffective data management, among other pertinent factors.

Cybersecurity challenges and priority areas

Undoubtedly, the banking sector represents a vital component of our nation’s critical information infrastructure. Nonetheless, large-scale power outages, exact natural disasters, and surge in the number and sophistication of cyberattacks demonstrate the array of potential risks confronting the sector. There is no gain saying that banks play a monumental role in the socio-economic development, financial stability and growth of the country. These giant economic strides notwithstanding, banks and other financial institutions are not immune from the snare of digital crimes.

Banks remain the number one target by the growing cybercrime syndicates in many jurisdictions across the globe. Predatory attacks on banking systems and infrastructure, and payment platforms by cybercrime syndicates can result in significant financial losses, reputation challenges, and considerable stress for customers and managers of these institutions.

Given the enormity of cyberattacks in prior and exact periods, banks during the current financial year have considered it economically and technologically prudent to partner key state institutions, such as the Cyber Security Authority (CSA), to ensure effective minimisation of adverse impacts on the services and operations of banks and within the cyberspace. And to this, I say, the CSA has the full support from the banks to ensure effectiveness in operationalisation of the Cybersecurity Act of 2020, Act 1038 – compliance with current and future cybersecurity directives by the Bank of Ghana, maintaining sound cybersecurity practices, and contributing to the establishment of a resilient cyberspace.

It is therefore imperative for decision-makers, especially Chief Executive Officers, across the nation to spearhead Ghana’s cybersecurity efforts by joining the conversation on how to make the country’s cyberspace safe and more resilient. This would facilitate effective implementation of cybersecurity policies in government and public institutions.


Performance of the financial sector in exact years has been phenomenal. However, many analysts have attributed the positive strides to enhanced capital levels, strong liquidity profile improvement in corporate governance and the passage of Bank of Ghana’s directive on information and cybersecurity. The 2021 Fraud Report released by the Bank of Ghana depicted a significant decline (97 percent) in successful cyberattacks within the financial sector. It is hoped the new legislation and directive would Boost Ghana’s security posture, attract more investors, and boost the economy.

In the absence of local legislation and directive, banks adopted and utilised international cybersecurity best practices and standards such as ISO 27000 and PCI DSS, in which banks are certified and compliant, thereby building trust between the banks and their partners – such as Mastercard, Visa and the international banks.

Recommended measures

The narrative reveals that many vulnerabilities have been exposed, owing to rapid transition to digital transformation. This notwithstanding, digital technology remains the bedrock of the future of banking and other financial services. This underscores the need for all key stakeholders to recognise the relevance of securing the banking sector and its financial system as critical information infrastructure (CII), and a major economic stimulant tool. In view of this, the following recommendations are proffered for implementation at the national and institutional levels.

National level measures

At the national level, the digital transformation that is earnestly required to drive financial inclusion, and to accelerate growth of the banking sector could be facilitated through practical implementation of cogent measures. First, it is instructive to state the success of any fight against cyber threats within the financial services sector; and the economy as a whole is pivoted around effective collaboration among major national institutions such as the Bank of Ghana, Cyber Security Authority, Financial Intelligence Centre (FIC), Economic and Organised Crime Office (EOCO), the Criminal Investigations Department (CID) of the Ghana Police Service, among others.

Second, it is imperative for the regulator (BoG) to ensure effective collaboration with key stakeholders such as the Ghana Association of Banks (GAB) and Cyber Security Authority to cause a thorough review of existing banking sector cyber security directive. The review could be based on the risk dimensions while ensuring its alignment with the national directive and the Cyber Security Act of 2020, Act 1038.

Third, content of the Memorandum of Understanding (MoU) signed by GAB and CSA could be practically implemented to help banks build the requisite capacity, create awareness, ensure regular engagements and professional exchanges, and build strong ecosystem of knowledge. Further, BoG, GAB and CSA could ensure effective collaboration toward sensitising the general public on exact trends and developments in cyber threats, and strategic ways through which customers could assure their personal safety and protection from the snare of predatory cyber hackers.

Fourth, it remains imperative for a multi-stakeholder engagement strategy to be adopted for implementation through partnerships. This initiative has the potential to enhance stakeholder knowledge of cybersecurity-related laws, and foster collaborative environment that would lend strong support to capacity-building and law enforcement across various sectors.

Fifth, the establishment and operationalisation of sectorial Computer Emergency Response Teams (CERTS) with clear mandates remain an important need in the fight against cyber threats. This would allow the Cyber Security Authority to maintain general oversight in the area of incident reporting. Further, it would effectively equip CSA to establish trends and devise strategies that would ensure its preparation for risks, and to minimise the incidence of recording potential risks.

Finally, collective and concerted efforts of key stakeholders toward organisation and operationalisation of industry-wide fora before the end of the current financial year would lead to the socio-economic benefit of the banking industry, and by extension, to the economy as a whole. This has the potential to increase engagements with other regulatory bodies, increase rate of information and intelligence-sharing.

Institutional level measures

At the institutional level, banks and other SDIs are entreated to initiate and implement proactive measures that will ensure their effective protection from the escalating risk of fraud. Proactively, it behooves banks to ensure adequate preparation for any unforeseen fraudulent activities through periodic updates, communication and testing of fraud response plans. Various banking institutions must conscientise their employees and customers on increasing cyber threats, including bank fraud and the tendency for cyber criminals to attempt to exploit the human element when staff are conducting business in a remote working environments.

Significant progress in the fight against bank fraud could be made if the risk and compliance departments liaised with human resources (HR) to roll-out updated awareness training on cybersecurity that is carefully tailored to underpin prevailing challenges and circumstances.

Banks have whistle-blowing policies in place with multiple channels for concerned employees, customers and members of the general public to voice out their concerns. Banking institutions developed requisite mechanisms, structures and incentives that encourage whistle-blowers to step forward with valuable information, including issues related to ethics in the workplace and compliance.

This initiative adds social and practical value to provisions in Section 12 and other related sections of the Ghana Banking Code of Ethics and Business Conduct which tasks individuals to report any major acts of irregularity observed in the workplace. Other financial institutions are encouraged to emulate the sterling examples of the banks. To ensure further improvements, boards of various banking institutions are entreated to deepen their knowledge in technology-related matters, and institute pragmatic measures that will enhance competitiveness and accelerate growth of their respective banks.

Internal fraud amounts to breach of trusts, and often leaves employers with the feeling of betrayal. The latter has the potential to trigger immediate action which may ultimately compound the situation. As a result, it is essential for employers to keep an open mind in such situations since there may be logical explanation for the discrepancy that may not be immediately obvious.

Extant research revealed intelligence-sharing is critical in preventing thematic frauds from replicating in several institutions. Indeed as a community of banks, we have made a lot of progress in this area; but more needs to be done to rid the system of cyber miscreants.


Digital ecosystems have come to stay. As a result, it is imperative for banks to actively engage in them to create value for stakeholders. However, there is a caveat. That is, realisation of the objectives hinge on the development of sophisticated, preventive and post-attack response programmes. Improved cybersecurity systems are analogous with adequate protection of data integrity and privacy in processing, transmission and storage which are essential prerequisites for successful delivery of digital financial services, products, and operations.

Actualisation of the foregoing by all key stakeholders would imply strategic and practical implementation of measures outlined in the Cyber Security Act of 2020, Act 1038, BoG’s cyber security directive for the banking sector, and actualisation of relevant Sections of the Ghana Banking Code of Ethics and Business Conduct. With this, I believe I have done some justice to the subject matter, and highly welcome other thoughts on the subject as the case may be.

>>>the writer is CEO, Ghana Association of Banks (GAB). He delivered this speech at a breakfast meeting by NetGuardians & BlueSpace in Accra.


1.      Bank of Ghana. (2020). 2019 Banking Industry Fraud Report. Accra, Ghana: Bank of Ghana.

2.      Bank of Ghana. (2021). 2020 Trends and Statistics. Accra, Ghana: Bank of Ghana.

3. (2022). Protecting against Fraud in an Increasingly Digital World. Retrieved from

4.      Chapman, M. (2021). Fraud in the Digital world: Prevention is better than investigation. Retrieved from

5.      Durant, A. (n.d.). Fraud against Banks Will increase in 2020 and Beyond Due to Lockdown Stresses. Retrieved from

6.      Hyduchak, S. (2021). Identity fraud in the new, post-pandemic digital world. Retrieved from

7.      Interpol. (2020). Retrieved from file:///C:/Users/23350/Downloads/COVID-19%20Cybercrime%20Analysis%20Report-%20August%202020%20(1).pdf

8.      KPMG. (2022). Ethics and business conduct in the banking industry – Survey. KPMG.

9.      Oberoi, S. (n.d.). Tackling cyber security in a world of digital ecosystems. Retrieved from

10.  Raza, M. (n.d.). Role of cyber security in the digital world. Retrieved from

11.  Rogoyski, A. (2017). Managing fraud in a digital world. Retrieved from

12.  Scholz, M. (n.d.). Can banks achieve digital transformation without a product manager? Retrieved from

13.  World Economic Forum. (2020). Partnership against crime: Insight report 2020. Retrieved from pdf#:~:text=Cyber%20criminals%20steal%20an%20estimated%20%24600%20billion%20 per,the%20most%20disruptive%20and%20economically%20damaging%20criminal%20a ctivities.

Mon, 04 Jul 2022 04:36:00 -0500 en-GB text/html
Killexams : Security Information and Event Management Market Projected to Reach $18.12 Billion by 2030

The global security information and event management market size was valued at $3.92 billion in 2020, and is projected to reach $18.12 billion by 2030, growing at a CAGR of 16.4% from 2021 to 2030.

Download sample Report (Get Full Insights in PDF – 210 Pages) at

Large enterprises are the primary consumers of SIEM products and the market was estimated to be around $1,174 million in 2016. However, small enterprise MSIE Industry is expected to grow at the highest growth rate during the forecast period, owing to its wide acceptance and increased product offerings from the key market players.

Rise in concerns over IT security and increase in cybercrime have urged organizations to invest in more efficient security systems, as the threat landscape is becoming more complex with the occurrence of mobile devices and rise in adoption of cloud services. In addition, increase in adoption of Bring Your Own Device (BYOD) trend drives the growth in the global MSIE Industry.

The report features a competitive scenario of the global SIEM industry and provides comprehensive analysis of key growth strategies adopted by the major players. Key players profiled in the study are Dell EMC, Hewlett Packard Enterprise Company, IBM Corporation, LogRhythm, Inc., McAfee LLC., SolarWinds Inc., Splunk Inc., Symantec Corporation, Trend Micro Inc., and Trustwave Holdings Inc. These players have adopted competitive strategies, such as geographical expansion, mergers & acquisitions, new product launch, and partnership & collaborations to augment the growth of the MSIE Industry.

North America was the largest market in global SIEM industry in 2016, as it offers adequate infrastructural development for the adoption of SIEM technology. The primary driver for this adoption is the regulatory compliance such as the Payment Card Industry Data Security Standard (PCI DSS), Freedom of Information and Protection of Privacy Act, the Federal Information Security Management Act (FISMA), and the Sarbanes-Oxley Act (SOX) in the region. Asia-Pacific MSIE Industry is expected to grow at the highest rate during the forecast period, owing to evolution in IT security arena, increase in cloud adoption, stringent regulatory compliances, and rise in demand for enterprise mobility.

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Mon, 06 Jun 2022 01:47:00 -0500 Allied Analytics en-US text/html
Killexams : Global Security Analytics Market Is Expected To Reach USD 29.39 Billion At A CAGR Of 16.1% And Forecast To 2027

Security Analytics Market Is Expected To Reach USD 29.39 Billion By 2027 At A CAGR Of 16.1 percent.

Maximize Market Research has published a report on the Global Security Analytics Market that provides a detailed analysis for the forecast period of 2022 to 2027.

Security Analytics Market Scope:

The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Security Analytics market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.

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Security Analytics Market Overview:

Security analytics is the combination of software, algorithms, and analytic processes that are used to detect potential threats to IT systems. In order to detect threats and monitor security, security analytics use technologies for data collecting, data aggregation, and analysis. When a corporation uses security analytics tools, it may examine security events to identify possible risks before they have a detrimental impact on the infrastructure and financial health of the business. The industry is being driven by the rise in advanced targeted assaults (ATA) and advanced persistent threats (APT). The corporate networks are severely damaged by the APTs or ATAs since they frequently go unnoticed and remain there for an extended length of time. As a result, security analytics are increasingly being used to identify and counteract such attacks.

Security Analytics Market Dynamics:

Organizations and their supply chain partners are exposed to more risk concerns as a result of disruption in the digitalization industry and the growth of social, mobile, and networked technologies. Regulations pertaining to security are becoming more stringent as threat concerns rise. Security and risk professionals are incorporating security analytics solutions into organizational governance, risk, and compliance processes as a result of the increasing complexity of monitoring compliances and network infrastructures from attacks. The integration aids the security teams in creating a unified architecture and interface for business threats. For instance, Gurucul, a cybersecurity company with headquarters in the United States, provides behavior-based security analytics solutions with capabilities for reporting, monitoring, and case management. Enterprises may manage compliance requirements like HIPPA, PCI DSS, and GDPR with the use of these capabilities.

Moving in the future, big data analytics, and cloud infrastructure will be crucial for security analytics solutions.

The main security operations platform right now is SIEM. Although SIEM has advanced significantly in exact years, the core architecture, which consists of a data-management layer intended to gather and analyze unprocessed security data, has remained mostly the same. Along with log management, SIEM has developed, with log files serving as the main data source through the gathering, processing, and analysis of logs. The need for the same data management services from enterprise companies for various security telemetries including NetFlow, threat intelligence, and vulnerability data has sharply increased the volume of security data under administration.

Security Analytics Market Regional Insights:

With a share of 40.9 percent in the market for security analytics in 2019, North America led the sector. Over the projection period, security analytics use is anticipated to increase significantly. In 2019, the U.S. had the greatest revenue share in the area. The greatest rate of technology adoption in the region, together with important aspects including a greater incidence of data breaches, malware assaults, and sophisticated persistent threats, all contribute to regional growth. Other factors influencing the adoption of security analytics in North America include the demand for security compliance management systems and rising investment in cybersecurity solutions.

In Asia regions, High-level threats are increasing due to cloud-based installations among businesses. Enterprises in the area are adopting security analytics solutions as a result of growing worries about data security and network vulnerabilities. The adoption of these solutions in the area is also being fueled by growing awareness of the damage caused by advanced targeted threats and the capacity of security analytics solutions to identify and address real-time APT or ATA.

Security Analytics Market Segmentation:

By Services:

  • Professional Services
  • Consulting
  • Support and Maintenance
  • Training and Education
  • Managed Service 

By Application:

  • Web Security Analytics
  • Network Security Analytics
  • Endpoint Security Analytics
  • Application Security Analytics 

By Development Mode:

By Industry:

  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer Goods and Retail
  • IT and Telecom
  • Healthcare
  • Energy and Utilities
  • Manufacturing

Security Analytics Market Key Competitors:

  • IBM
  • Cisco
  • Splunk
  • RSA
  • FireEye
  • HPE
  • McAfee
  • Symantec
  • LogRhythm
  • Fortinet
  • Huntsman Security
  • Securonix
  • Gurucul
  • Juniper Networks
  • Hillstone Networks
  • Exabeam
  • Rapid7
  • Alert Logic
  • Forcepoint
  • Assuria
  • Haystax 

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Fri, 01 Jul 2022 00:00:00 -0500 Newsmantraa en-US text/html
Killexams : Recruitment Process Flaws Unveiled by New 2022 Study

Finding a good job can be challenging for many people, particularly with the rise in competition. Some common challenges people normally face include a lack of experience, online presence, and networking abilities, to name a few.

These challenges often lead to people not being completely honest about themselves in the recruitment process. A new StaffCircle study reveals that many people lie on their CV to pass these hurdles and to get an edge over the competition.

The findings of the survey

32% of employees (out of 1,500 surveyed) admit to not being completely honest in the recruitment process. What’s more surprising is that 93% of candidates who lied on their CV were never really caught. Also, 63% of these liars confessed ‌they might lie again in the future if need be. 

The top age demographics revealed most likely to lie frequently were  25-34-year-olds, then  35-44-year-olds, and then  18-24-year-olds. Over 50% of people declared they lied during the recruitment process because of having a lack of experience. 

This is a huge burden for employees because it’s tough to get a job with no prior work experience in the industry that they are pursuing, so people will feel compelled to lie about experience to help get the job they want and establish themselves in their chosen career path.  However, that’s not to say that it cannot be done, as people can still get a job having little to no work experience. 

The impact of lying 

As per the survey results, most people who lied on their CV weren’t caught. This resulted in the same people being more inclined towards lying in the recruitment process in the future. Out of those who admitted to lying on their CV, 62% revealed they’d be more likely to do so again to obtain a remote working role. 

However, it should also be considered whether it is well and truly worth the effort for someone to lie on their CV, especially since 58% of respondents stated ‌they felt there was no benefit from lying in the recruitment process.

Companies need to remain vigilant and react to employees still lying during interviews, as 63% of respondents still admitted they would be tempted to lie again for future opportunities,despite 68% of them declaring that their recruitment process was ‌“very or quite thorough”.

This indicates that organisations must closely assess applicants and look  to Boost their recruitment process. They should also work on ways to spend more time on screening applicants and finding suitable ones from multiple screening processes, like phone interviews, in-person interviews, and more. 

The final say

Employees are the most important asset of any business and can make or break your organisation. Hiring a candidate who has not been honest in the recruitment process can lead to decreasing the productivity of a business or hiring an unsuitable candidate.

Additionally, an employee who has lied at the very beginning of the recruitment process might also ‌lie in the future, whether it’s regarding project deliverables or anything else. 

To Boost their recruitment process, the human resource department of any organisation can utilise performance management techniques to better connect with their employees and identify gaps in the overall recruitment process. It’s always better to be diligent at the beginning of the process to prevent any shortcomings in the future that may affect the business in the long run.

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Wed, 13 Jul 2022 07:43:00 -0500 GISuser en-US text/html
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