Ever since the introduction of e-money, merchants, buyers and the credit card industry have faced several challenges. The transition from paper money to credit card transactions has not been easy.
The greatest challenge faced in this regard is payment authorization. As you might be aware, your credit card is susceptible to fraudulent use. It is easy for hackers and other malware to obtain your credit card details, every time you use it to purchase goods. It is also detrimental to your business, since your IT system and customer data is unsafe.