A business leader facing a decision about investing in payment security infrastructure. A merchant concerned about keeping consumers’ information safe. A software developer considering the payments implications of product design. These are a few of the people who found value in the two secure payments resources published by the Secure Payments Task Force (Off-site), a coalition of more than 200 payment industry stakeholders that was active until earlier this year. Former task force participants provided more details on these two resources in a recent webinar, which is available below.

Payment Lifecycles and Security Profiles

“An unprecedented resource designed to be used by anyone and everyone” is how Suzanne Martindale of Consumers Union (publisher of Consumer Reports) described the Payment Lifecycles and Security Profiles (Off-site). These profiles of eight common payment types — from enrollment through transaction flow to reconciliation — “are meant to highlight potential vulnerabilities in various payment types, to educate stakeholders, from the experts to folks who are new [to payments], and encourage best practices in payments security,” Martindale said.

Information Sharing Data Sources

The Information Sharing Data Sources (Off-site) highlight broad-reaching intelligence reports, payments fraud trends, best practices and benchmarks, and additional resources that can help your organization address payments fraud risk. “When you get into payments,” Nordstrom’s Bryan Penny said, “if you just start searching the web, you don’t know if that source is reliable and has good information. All these sources were vetted by experts.” The data sources strengthen all participants, he said, because “any one part of the community isn’t strong enough to drive down fraud and keep the consumer’s information safe.”

Action Item:

Watch our on-demand webinar below to hear more about how to use these resources — as well as the Federal Reserve’s next steps to support payment security.