Priority Technology Holdings LLC uses its MXTM Merchant as a tailored payments ecosystem that helps manage all the merchants’ business aspects. It is offered as a comprehensive, secure, and compliance-driven platform that maximizes payment security for merchants. 

The MXTM Merchant platform helps protect merchants through advanced technology and robust fraud prevention tools. This platform is built to specifically handle the security needs of small or mid-sized businesses (SMBs), B2B, and enterprise clients. 

This blog will look into the 10 ways in which Priority can help maximize payment security for its merchants through the MXTM Merchant platform. 

Key Takeaways

  • MXTM Merchant is a tailored payments ecosystem by Priority Technology Holdings.
  • This unified commerce engine combines advanced encryption, tokenization, and PCI DSS compliance.
  • MXTM Merchant offers secure virtual terminals, real-time fraud detection, and tailored security for B2B.
  • Payments are automated and secured from any third-party intervention.

1. PCI-DSS Compliance Management

Priority makes sure that all the payment processing will adhere to the Payment Card Industry Data Standards (PCI-DSS). Through this system, Priority’s MXTM Merchant platform can help reduce the liability and protect sensitive cardholder data. Moreover, this platform provides users with an app store that allows them to directly install the Viking Cloud/PCI Protection app. The platform also guides merchants through the necessary steps to evaluate their compliance status and complete required documentation. 

2. Advanced System for Tokenization

The MXTM Merchant platform helps Priority maintain an advanced system of tokenization. Using this platform, Priority can replace sensitive cardholder data using unique and non-reversible tokens. Through this system, it can ensure that actual card information is not stored or transmitted within the merchant’s environment. 

3. Security Through End-to-End Encryption 

Data that is exchanged between payment devices and Priority’s systems is always encrypted. This end-to-end encryption (E2EE) system ensures that throughout the process of data transmission, the data remains secure. This security comes from the fact that the encrypted data cannot be intercepted during the transition. E2EE essentially secures data by protecting it against eavesdropping by service providers, hackers, and unauthorized third parties. 

4. The Secure MXTM Merchant Portal 

The MXTM Merchant platform is fully secure. Moreover, access to the management system is maintained with excellent security, which further provides a controlled environment for different purposes. These purposes include viewing transactions, managing, reporting, and reducing the risk of fraud. 

5. MXTM Merchant’s Multi-Factor Authentication (MFA)

The MXTM Merchant platform’s security system is not just managed by encryption and a controlled environment. The platform mandates two-factor authentication to prevent unauthorized access. Logging into this platform requires the authentication process to protect against phishing and account takeovers. 

6. EMV Chip and Contactless Technology

Priority’s MXTM Merchant platform supports EMV (chip-card) and NFC (contactless) payments. With the help of this process, the platform can ensure that the correct steps are taken to minimize in-person fraud. There are some critical examples of in-person fraud that the merchants should consider are card skimming and counterfeit card usage. With the chip-card and contactless payment technologies, these fraudulent actions can be avoided.

7. Address Verification Tools

In Priority’s MXTM Merchant platform, there are tools in place that simplify the verification of the legitimacy of card-not-present transactions. These systems use two possible methods for validation. One such method is the Address Verification System (AVS). Using AVS, the customer’s billing address can be accurately verified. Alternatively, the platform also uses a Card Verification Value (CVV), which can help reduce chargeback fraud. 

8. Monitoring and Fraud Detection Tools

The Priority MXTM Merchant platform includes built-in and active monitoring tools to identify suspicious activity. Suspicious activity, in this context, includes velocity checks and geolocation anomalies. These factors enhance the platform’s capability to identify fraudulent activities in real-time, reducing financial losses by a significant percentage. These tools, with the support of automated systems, can examine hundreds of data points per transaction and effectively differentiate between legitimate behavior and malicious tendencies. 

9. CPX Platform for Secure B2B Payments

The CPX (Commercial Payment Exchange) platform provides secure B2B payments, which include virtual cards and ACH+. The CPX platform by Priority also reduces fraud risk through measures of tokenization, virtual card technology, and rigorous supplier validation. It also generates unique, single-use account numbers for each transaction. This especially limits exposure to fraud because the CPX system uses built-in automated technologies to protect sensitive data during processing and transmission. 

10. MXTM Merchant, Data Security and Risk Management Expertise

Priority, with the support of the MXTM Merchant platform, maintains its credentials as a large-scale processor with the help of extensive industry experience. This experience is leveraged alongside secure and scalable technology, such as API, gateway, terminal, and so on. These are utilized by Priority to provide a resilient and secure infrastructure for merchants, also involving high uptimes. Thus, a comprehensive payment and commerce ecosystem is managed, which is designed for secure and integrated payment processing and risk management. 

Final Verdict

Priority Technology Holdings has developed the ability to maximize payment security for merchants through a unified commerce engine that has combined several aspects, such as advanced encryption, tokenization, and strict compliance with PCI-DSS standards. Moreover, their flagship MXTM Merchant platform offers secure virtual terminals, real-time fraud detection, and tailored security for B2B and retail, reducing risks which are associated with manual processing.