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Obviously I'd love to use a credit card vault to store cards. But our business model doesn't allow for this.
For example: our clients are corporations, they create accounts in our software. Each account has its own set of users. They want to charge their user's credit card through their own gateway. On the other hand, we service their users as well. So we will need to charge their cards through our own gateway (which is different).
That said, we both need to charge the same card on different gateways. Not to mention it is possible that our client's gateway won't have a credit card vault. So this makes using a traditional credit card vault impossible.
The only feasible solution, as far as we can tell, is to store the card in our own database. I'd like to avoid this if possible.
Does anyone know if there are 3rd party vaults that let you store sensitive information, and pull that information out? Or if there is an alternate solution to the problem I'm describing?
I've yet to find a credit card vault that lets you store the card information and also retrieve it (read & write).
I'm sure I'm not the first person to encounter this, any help is greatly appreciated. Thanks.
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Vaulting consists in storing your customers' credit cards outside of your payment provider, with a special provider called a credit card vault. Benefits include better management of data security concerns, reduced PCI compliance scope, and full payment provider independence.
Keep paper documents with credit card numbers locked in a secure place (like a safe) when not in use. Electronic storage of credit card numbers is also common if, for example, you process recurring or repeat transactions. If you do this, you cannot store these files unencrypted.
Yes. As long as you continue to make all your payments on time and are careful not to over-extend yourself, those open credit card accounts will likely have a positive impact on your credit scores.
Further, if you use only one card regularly, you could lock all others as a precaution. Unused or seldom-used cards: You might be keeping open some credit cards because you've had them a long time, and that long history will help your credit scores. Lock unused cards as an extra measure of security.
For anyone curious about what we decided to do. We decided to support payment gateways with a credit card vault. Each card is stored with each gateway. So if we charge a card on gateway #1, it gets stored in gateway #1's credit card vault. If we charge that same card on gateway #2 we require the user to enter their card again and store the card there.
After doing some research, storing cards on our server was simply not an option and the risk associated with it outweighed the benefits. PCI compliance is something our clients relied on us to provide.
The other solution we considered was picking a major gateway such as authorize.net and using a shared credit card vault. Any customer that wanted to accept cards would be required to setup an account there. This would give us a single place to store credit cards.
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