What happens when MyStudio collects a payment?
Rest assured you are backed by global leaders for data storage and payment processing security & safety when using the MyStudio Platform.
Here are some key points so you better understand how payments/data are handled here at MyStudio, so you can properly communicate this to your members when they voice or share fraud and risk concerns.
First of all. MyStudio(your studio) does not keep any credit card numbers or data in our database(held by Amazon Web Services)
The information after checkout is sent straight to WePay.com -- our integrated payment processor which is owned by Chase Bank. WePay has a level 1 PCI compliance rating with the government, which is the highest. To learn more about WePay compliance click here
The credit card is run once by Wepay's system, if it successfully goes through, the system encrypts the data and sends us a Token. Which is a string of characters that does not include any of the credit card's information.
That Token is used by our system(Data storage by Amazon Web Services) to re-run any scheduled payments, for recurring payment options, etc.
So if someone is able to hack Amazon, they would only get useless token that cannot be used any where else
Here is additional info regarding payment security from our partner -- WePay