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Network Solutions experienced a security breach where malicious code compromised web servers, resulting in the theft of 573,000 credit card numbers over a three-month period. This attack, which went unnoticed by victims, highlights the vulnerability of online payment systems to sophisticated hacking techniques. The article advises individuals to regularly check their credit reports, recommending the official FTC website for free annual reports.

Tokenized payments utilize cloud computing to securely store customer payment data, replacing sensitive credit card numbers with tokens for transactions. This process involves sending customer information to a provider who returns a token, which is then used for future payments instead of the actual card number. Tokenization offers advantages like enhanced data security, simplified PCI compliance, reduced costs, and easier rebilling, and is offered by providers like Braintree, Cybersource, USAePay, and Stripe.

How to reduce your fees. Here are 5 tips you can use to save money on your credit card processing.

ACH credit transactions are initiated by an Originator, typically a company, to deposit funds into a Receiver's account, forming a vital part of the ACH network. These transactions are commonly used for various payments such as dividends, B2B transfers, payroll, government benefits, and tax refunds. For example, dividend payments from a brokerage account are processed as ACH credits, directly depositing funds into the investor's bank account.

The ACH Network utilizes Standard Entry Class (SEC) codes, three-digit identifiers, to categorize and process different types of payments. These codes, found in the transaction record, specify if a payment is a debit or credit and whether it's for consumer or corporate purposes. A wide variety of SEC codes exist, like WEB for internet payments and CTX for corporate trade exchanges, to ensure proper handling of diverse ACH transactions.