high risk payment processing blog

Why is Payment Processing Important for Businesses?

The Backbone of Your Business: Understanding Payment Processing with High Risk Match

In today’s fast-paced digital world, payment processing is the lifeblood of any business, especially for those operating in high-risk industries. Whether you’re a seasoned entrepreneur or just starting, mastering the art of payment processing is crucial to ensuring smooth and secure transactions for your customers.

Imagine this: Your online store is buzzing with activity. Customers are adding items to their carts, ready to complete their purchases. Everything is going perfectly—until a payment processing error pops up. Transactions are stalled, customers are frustrated, and suddenly, your flourishing business faces a serious roadblock. This is where High Risk Match steps in to make sure such scenarios become a thing of the past.

What Is Payment Processing?

At its core, payment processing is the mechanism that facilitates the transfer of money from your customer’s bank account to your merchant account. It involves multiple players—customers, merchants, payment gateways, processors, and financial institutions—all working in harmony to ensure that funds are securely and efficiently moved.

High Risk Match simplifies this complex process for high-risk businesses, ensuring that every transaction is not only smooth but also secure, giving you the peace of mind to focus on growing your business.

How Does Payment Processing Work?

Navigating the intricacies of payment processing, especially for high-risk businesses, requires an understanding of the key components and potential challenges. High Risk Match excels in addressing these challenges, focusing on transparency, security, and technical support—elements that are vital in building trust and demonstrating expertise in payment processing.

1. Transparent and Predictable Pricing

The Challenge: A common pain point for businesses is the lack of transparency in pricing structures, which often leads to unexpectedly high fees.

Our Solution: At High Risk Match, we offer a flat-rate pricing model that brings predictability to your expenses. No more surprise fees—just clear, upfront costs that allow you to manage your finances with confidence.

2. Advanced Security Measures

The Challenge: With the rise of online payments, the risk of fraud and data breaches has become a significant concern.

Our Solution: Security is at the heart of what we do. High Risk Match ensures that your payment systems are PCI compliant, and we go the extra mile by implementing firewalls, bot protection, and regular purging of old records. Our state-of-the-art fraud detection tools help mitigate risks, ensuring that your business remains protected and your customers’ trust is maintained.

3. Seamless Integration and Unmatched Support

The Challenge: Integrating new payment systems with your existing operations can be daunting, especially when it comes to minimizing disruptions.

Our Solution: High Risk Match offers seamless integration with your existing business software, whether it’s an e-commerce platform or a POS system. Our solutions reduce manual work, minimize errors, and enhance overall efficiency. Plus, our 24/7 customer support ensures that any issues are quickly addressed, minimizing downtime and keeping your operations running smoothly.

4. Catering to Modern Consumer Preferences

The Challenge: Today’s consumers expect a variety of payment options. Limiting payment methods can result in lost sales and lower customer satisfaction.

Our Solution: High Risk Match supports multiple payment channels, including credit cards, debit cards, and digital wallets. By accommodating your customers’ preferred payment methods, we help you reduce cart abandonment rates, boost sales, and enhance overall customer satisfaction.

The Anatomy of Payment Processing

To fully understand how payment processing works, it’s important to break down the process into its key components:

Transaction Initiation

The customer initiates the transaction by providing their payment information, typically through a payment gateway on your website.

Authorization

The payment processor validates the transaction details. The issuing bank then checks the customer’s account status and either approves or declines the transaction.

Settlement

Once authorized, the funds are transferred from the issuing bank to the acquiring bank, where they are deposited into your merchant account.

Best Practices for Secure and Efficient Payment Processing

Running a successful business involves more than just selling great products; it’s about offering a seamless, secure, and efficient payment experience. Here are some best practices to keep your payment processing optimized:

1. Embrace Robust Security Protocols

Ensure that your payment processing system is PCI DSS compliant. Regularly updating your security measures, such as installing firewalls and bot protection, helps safeguard your business from fraud and data breaches.

2. Offer Diverse Payment Options

Cater to your customers by providing various payment methods. From traditional credit and debit cards to digital wallets, offering flexibility can significantly improve conversion rates and customer satisfaction.

3. Stay Updated with Technology

Regularly update your payment processing software and hardware to keep up with technological advancements. This not only enhances efficiency but also ensures that your systems remain secure and reliable.

4. Train Your Team

Educate your employees on payment processing best practices and fraud prevention techniques. A well-trained team can help maintain transaction security and contribute to a culture of vigilance.

5. Implement Fraud Prevention Tools

Leverage advanced fraud detection and prevention tools to monitor transactions for unusual activity. These tools are essential in protecting both your business and your customers from financial loss and reputational damage.

Why Choose High Risk Match?

At High Risk Match, we’re more than just a payment processor—we’re your partner in success. Here’s why businesses choose us:

  • Proven Expertise: We specialize in high-risk industries and understand the unique challenges you face.
  • Comprehensive Support: Our 24/7 customer support is always here to help, ensuring that any issues are resolved quickly.
  • Cutting-Edge Security: We provide robust security measures that protect your business from fraud and chargebacks.

Ready to Transform Your Payment Processing?

Don’t let payment processing challenges hold your business back. With High Risk Match, you can expect transparent pricing, unparalleled security, and seamless integration tailored to your needs.

Get in Touch Today:

Take Action Now:

Request a Demo: Experience our payment solutions firsthand and see how they can benefit your business.

Get Started: Contact us to explore how our solutions can help you streamline your payment processing.

Book a Consultation: Schedule a consultation with our experts to discuss your business needs.

Meta Description: Discover how High Risk Match simplifies payment processing for high-risk businesses, offering transparent pricing, robust security, and seamless integration to keep your operations running smoothly.

Keywords: Payment processing, high-risk merchant account, transparent pricing, fraud prevention, multi-channel payments, payment gateway integration

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high risk payment processing blog

How to Implement Tokenization in Payment Systems

In the world of payment security, tokenization is a crucial technology designed to protect sensitive cardholder information. As businesses increasingly move towards digital transactions, understanding tokenization and its benefits can significantly enhance your payment security. Here’s a comprehensive guide to what tokenization is, how it works, and how High Risk Match can help you implement it effectively.

What is Tokenization?

Tokenization is a process used to replace sensitive payment information, such as credit card numbers, with a unique identifier known as a “token.” This token retains the essential data elements required for transaction processing but does not expose sensitive information that could be exploited if compromised.

How Tokenization Works

  1. Token Generation:
    • When a payment is initiated, the sensitive payment data (e.g., credit card number) is sent to a tokenization service.
    • The tokenization service generates a unique token, which replaces the original payment data. This token is stored in place of the actual credit card number in the transaction database.
  2. Token Storage:
    • The token is stored in the payment system’s database and used for processing transactions. The original sensitive data is securely stored in a separate, highly secure token vault that is inaccessible to unauthorized parties.
  3. Token Usage:
    • During subsequent transactions, the token is used instead of the actual payment data. The token is sent to the tokenization service, which maps it back to the original payment data to complete the transaction.
  4. Data Protection:
    • Since the token itself does not reveal any sensitive information, it is useless to hackers who gain access to your database. This reduces the risk of data breaches and fraud.

Benefits of Tokenization

1. Enhanced Security:

  • By replacing sensitive data with tokens, tokenization minimizes the risk of data breaches. Even if a hacker gains access to your database, they only find tokens, not actual payment information.

2. Compliance with PCI DSS:

  • Tokenization helps businesses achieve and maintain PCI Compliance by reducing the scope of sensitive data that needs to be protected. It simplifies the compliance process and reduces the burden of safeguarding cardholder information.

3. Reduced Fraud Risk:

  • With tokenization, stolen tokens are useless without access to the tokenization service. This significantly reduces the risk of fraudulent transactions and data misuse.

4. Improved Customer Trust:

  • By demonstrating a commitment to protecting payment information, businesses can build trust with customers. Tokenization helps reassure customers that their payment data is handled securely.

5. Streamlined Transactions:

  • Tokenization can simplify transaction processing by allowing merchants to store tokens instead of sensitive data. This can improve operational efficiency and reduce the risk of errors in handling payment information.

How High Risk Match Can Help

At High Risk Match, we understand the unique security challenges faced by high-risk businesses. Our tokenization solutions are designed to enhance payment security and streamline compliance. Here’s how we can assist:

Custom Tokenization Solutions: We provide tailored tokenization solutions that integrate seamlessly with your payment processing systems, ensuring that sensitive data is protected.

Expert Integration Support: Our team offers guidance on implementing tokenization technology effectively, helping you achieve optimal security and compliance.

Ongoing Security Monitoring: We continuously monitor and update our tokenization solutions to address emerging threats and ensure your payment systems remain secure.

By partnering with High Risk Match, you benefit from advanced tokenization technology and expert support, enhancing the security of your payment transactions.

For more information on how our tokenization solutions can secure your payment processing, contact us at info@highriskmatch.com or call 1-877-242-2009.


Meta Description: Learn about tokenization, a crucial technology for securing payment information by replacing sensitive data with unique tokens. Discover how High Risk Match can help you implement tokenization effectively.

Keywords: Tokenization, Payment Security, PCI Compliance, Payment Processing, High Risk Match, Data Protection, Fraud Prevention

Tags: Tokenization, Payment Security, PCI Compliance, High Risk Match, Fraud Prevention, Data Protection

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high risk payment processing blog

How to Troubleshoot Failed Payments on Stripe

When a customer’s payment fails on Stripe, it can be frustrating for both you and your customers. Payment failures can occur due to a variety of reasons, and understanding these issues can help you resolve them quickly and improve the payment experience. Here’s a comprehensive guide to common reasons why payments might fail on Stripe and how you can address these issues effectively.

Common Reasons for Payment Failures on Stripe

1. Insufficient Funds

  • Description: The most common reason for payment failure is that the customer’s bank account or credit card has insufficient funds.
  • Solution: Encourage your customers to check their account balance or use an alternative payment method.

2. Incorrect Payment Information

  • Description: Errors in the payment details entered by the customer, such as incorrect card number, expiration date, or CVV code, can lead to payment failure.
  • Solution: Ensure that your checkout form is clear and easy to use. Consider implementing real-time validation for payment information.

3. Expired or Invalid Card

  • Description: Payments can fail if the customer’s card is expired or has been reported as lost or stolen.
  • Solution: Prompt customers to verify their card details and use an active card for payment.

4. Card Issuer Declines Payment

  • Description: The card issuer or bank might decline the payment due to various reasons, such as fraud detection or account issues.
  • Solution: Advise customers to contact their bank or card issuer to resolve any issues with their card.

5. Payment Method Not Supported

  • Description: Some payment methods may not be supported by Stripe or your payment gateway configuration.
  • Solution: Verify that the payment methods you offer are supported by Stripe and correctly configured in your Stripe account settings.

6. 3D Secure Authentication Issues

  • Description: For payments requiring 3D Secure (such as Visa Secure or Mastercard Identity Check), authentication failures can result in payment decline.
  • Solution: Ensure that your payment processing setup supports 3D Secure authentication and that customers complete the required steps during checkout.

7. Network or Connectivity Issues

  • Description: Temporary network issues or connectivity problems can prevent payments from being processed.
  • Solution: Retry the transaction and check for any ongoing issues with Stripe’s service status.

8. Fraud Detection

  • Description: Stripe’s fraud detection mechanisms may block payments that it deems high-risk.
  • Solution: Review Stripe’s fraud detection settings and consider adjusting your fraud filters if legitimate transactions are being blocked.

9. Currency or Location Issues

  • Description: Payments might fail if there are discrepancies between the currency of the payment method and the currency accepted by your business.
  • Solution: Ensure that your payment setup supports the currencies and locations relevant to your customer base.

10. Account or API Configuration Issues

  • Description: Misconfigurations in your Stripe account or API integration can lead to payment failures.
  • Solution: Check your Stripe account settings and API integration to ensure everything is correctly set up and functioning.

How High Risk Match Can Help

If you’re experiencing recurring payment failures on Stripe or need a more reliable solution for high-risk transactions, High Risk Match can assist:

  • Alternative Payment Solutions: We offer PCI-compliant payment processing solutions designed to handle high-risk transactions effectively.
  • Expert Integration Support: Our team provides guidance on integrating payment gateways and troubleshooting issues to ensure smooth transactions.
  • Fraud Prevention Tools: We offer advanced fraud prevention tools to minimize payment declines and protect your business from fraudulent activities.

For more information on how High Risk Match can enhance your payment processing and address payment failures, contact us at info@highriskmatch.com or call 1-877-242-2009.


Meta Description: Discover common reasons why payments fail on Stripe and how to address them. Learn how High Risk Match can provide solutions to ensure reliable payment processing for your business.

Keywords: Stripe Payment Failures, Payment Issues, Payment Processing, High Risk Match, Payment Troubleshooting, Payment Solutions, Fraud Prevention

Tags: Stripe, Payment Failures, Payment Issues, Payment Processing, High Risk Match, Fraud Prevention

high risk payment processing blog

Why is PCI compliance important for businesses today?

Achieving PCI Compliance is a critical milestone for businesses handling payment card information, especially those in high-risk industries. Successful compliance not only safeguards cardholder data but also brings numerous benefits, including enhanced customer trust and reduced risk of penalties. Here are some real-life examples of businesses that successfully navigated PCI Compliance and the positive impacts they experienced. High Risk Match can help your business achieve similar success.

Case Study 1: E-Commerce Retailer Achieves PCI Compliance and Boosts Customer Trust

Background: An e-commerce retailer specializing in high-ticket items faced challenges with PCI Compliance due to a history of data breaches. The company needed to enhance its security measures to regain customer trust and avoid further complications.

Challenges:

  • Previous security breaches eroded customer trust.
  • Complex compliance requirements for handling high-volume transactions.
  • Limited in-house expertise in PCI DSS implementation.

Solution: High Risk Match provided the retailer with a PCI-compliant payment gateway solution that included encryption and tokenization technologies. We also offered expert guidance on implementing necessary security measures and managing compliance documentation.

Results:

  • Increased Customer Confidence: The retailer reported a significant increase in customer trust and a reduction in cart abandonment rates.
  • Enhanced Security: The new payment gateway and security measures effectively prevented data breaches.
  • Avoided Penalties: Compliance helped the retailer avoid potential fines and penalties associated with non-compliance.

Case Study 2: Small Business Achieves PCI Compliance and Expands Market Reach

Background: A small business offering subscription-based digital services struggled with PCI Compliance due to limited resources and technical knowledge. The business sought to expand its market reach while ensuring secure payment processing.

Challenges:

  • Limited budget for compliance-related investments.
  • Lack of in-house expertise in implementing PCI DSS requirements.
  • Need for scalable solutions to support business growth.

Solution: High Risk Match provided a cost-effective, PCI-compliant payment processing solution that was scalable and easy to implement. We also offered training and ongoing support to help the business manage compliance effectively.

Results:

  • Business Growth: The business successfully expanded its market reach and increased its customer base.
  • Cost-Effective Compliance: The affordable solution and support allowed the business to achieve compliance within budget.
  • Improved Security: Enhanced payment security helped prevent data breaches and protected customer information.

Case Study 3: Service Provider Enhances PCI Compliance and Reduces Risk of Data Breaches

Background: A service provider handling sensitive financial data needed to enhance its PCI Compliance to meet regulatory requirements and minimize data breach risks. The provider faced challenges in integrating compliance measures into its existing systems.

Challenges:

  • Complex integration of PCI DSS requirements with existing systems.
  • High risk of data breaches due to the sensitive nature of the data handled.
  • Need for robust security measures and regular compliance assessments.

Solution: High Risk Match assisted the service provider with integrating advanced security technologies, including firewalls, vulnerability management tools, and secure data storage solutions. We also provided ongoing assessments and support to ensure continued compliance.

Results:

  • Reduced Data Breach Risk: The provider significantly reduced the risk of data breaches and improved overall security posture.
  • Streamlined Compliance: Integration of compliance measures into existing systems was achieved smoothly.
  • Regulatory Compliance: The provider met all regulatory requirements and maintained a strong reputation in the industry.

How High Risk Match Can Help Your Business

Expert Guidance: High Risk Match offers expert advice and support to help you achieve PCI Compliance, regardless of your business size or industry.

Tailored Solutions: We provide PCI-compliant payment processing solutions tailored to your specific needs, ensuring secure transactions and compliance.

Ongoing Support: Our team offers continuous support to address compliance-related issues, update security measures, and manage documentation effectively.

By partnering with High Risk Match, you can achieve PCI Compliance success similar to these case studies and enjoy the benefits of enhanced security and customer trust.

For more information on how we can assist you with PCI Compliance, contact us at info@highriskmatch.com or call 1-877-242-2009.


Meta Description: Explore real-life case studies of businesses that achieved PCI Compliance and the benefits they experienced. Learn how High Risk Match can help your business achieve similar success.

Keywords: PCI Compliance Success Stories, Case Studies, Real-Life Examples, Payment Security, High Risk Match, PCI DSS Benefits, Compliance Solutions

Tags: PCI Compliance, Success Stories, Case Studies, Payment Security, High Risk Match

high risk payment processing blog

How Can Small Businesses Overcome PCI Compliance Issues?

Achieving and maintaining PCI Compliance can be a daunting task for small businesses, often due to limited resources and expertise. Despite these challenges, PCI Compliance is essential for safeguarding cardholder information and avoiding potential penalties. Here’s a comprehensive guide on the specific challenges small businesses face with PCI Compliance and the solutions to address them. High Risk Match is here to provide support and expertise to help small businesses navigate these challenges effectively.

Common Challenges for Small Businesses

1. Limited Resources and Budget

  • Challenge: Small businesses often have limited financial and technical resources to invest in comprehensive security solutions and compliance measures.
  • Solution: Utilize cost-effective, scalable security solutions such as cloud-based services that offer robust PCI Compliance features without significant upfront investments. High Risk Match can provide affordable, PCI-compliant payment processing solutions tailored to your budget.

2. Lack of In-House Expertise

  • Challenge: Small businesses may lack the technical expertise required to understand and implement PCI DSS requirements effectively.
  • Solution: Engage with PCI Compliance consultants or managed security service providers (MSSPs) who can offer expert guidance. High Risk Match provides expert advice and support to help you navigate PCI DSS requirements and implement necessary measures.

3. Complex and Evolving Requirements

  • Challenge: PCI DSS requirements can be complex and are subject to updates, making it challenging for small businesses to stay current.
  • Solution: Implement tools and services that automate compliance tasks and stay updated on PCI DSS changes. High Risk Match offers ongoing support to ensure your compliance measures evolve with industry standards.

4. Security and Data Protection

  • Challenge: Ensuring the security of cardholder data with limited resources can be difficult for small businesses.
  • Solution: Invest in essential security technologies like data encryption, tokenization, and secure payment gateways. High Risk Match’s PCI-compliant payment solutions include these technologies to protect your cardholder data effectively.

5. Employee Training and Awareness

  • Challenge: Small businesses may struggle to provide adequate training on PCI Compliance and security best practices to employees.
  • Solution: Utilize online training programs and resources to educate employees on PCI Compliance requirements and data security practices. High Risk Match can assist in developing and implementing effective training programs for your team.

6. Managing Compliance Documentation

  • Challenge: Keeping track of compliance documentation and maintaining records can be overwhelming for small business owners.
  • Solution: Use compliance management tools to organize and track documentation. High Risk Match helps you with documentation processes and provides guidance on maintaining necessary records for PCI Compliance.

How High Risk Match Supports Small Businesses

Affordable Compliance Solutions: High Risk Match offers cost-effective, PCI-compliant payment processing solutions that fit the needs and budgets of small businesses. Our solutions are designed to provide robust security without breaking the bank.

Expert Guidance and Support: Our team provides expert advice on PCI Compliance, helping you understand and implement the necessary measures. We offer support throughout the compliance process to ensure your business meets all requirements.

Scalable Security Technologies: We provide access to scalable security technologies, such as encryption and tokenization, that grow with your business. Our solutions ensure your cardholder data is protected and compliant with PCI DSS standards.

Ongoing Compliance Assistance: High Risk Match offers continuous support to keep you updated on PCI DSS changes and maintain compliance. We help you stay current with evolving requirements and manage your compliance documentation effectively.

Employee Training: We assist in developing and implementing training programs to educate your employees on PCI Compliance and data security best practices.

By partnering with High Risk Match, small businesses can navigate the complexities of PCI Compliance with confidence. Our tailored solutions and expert support make it easier for you to achieve and maintain compliance while focusing on growing your business.

For more information on how High Risk Match can help your small business with PCI Compliance, contact us at info@highriskmatch.com or call 1-877-242-2009.


Meta Description: Discover the specific challenges small businesses face with PCI Compliance and explore effective solutions. Learn how High Risk Match can support your business with affordable, scalable, and expert compliance assistance.

Keywords: PCI Compliance for Small Businesses, PCI DSS, Small Business Security, Compliance Solutions, Data Protection, Encryption, Tokenization, Employee Training, High Risk Match

Tags: PCI Compliance, Small Business, Data Security, Compliance Solutions, Encryption, Tokenization, Employee Training, High Risk Match

high risk payment processing blog

The Role of Technology in Achieving PCI Compliance

In today’s digital age, achieving and maintaining PCI Compliance is critical for businesses handling payment card information. Various technologies and tools play a pivotal role in meeting PCI DSS (Payment Card Industry Data Security Standard) requirements. Here’s a detailed guide on how these technologies can assist in achieving PCI Compliance and how High Risk Match can help streamline the process for your business.

Key Technologies for PCI Compliance

1. Data Encryption

  • Purpose: Encrypting cardholder data both at rest and in transit is essential for protecting sensitive information from unauthorized access.
  • Implementation: Employ strong encryption algorithms and ensure that encryption keys are securely managed and rotated regularly.

2. Tokenization

  • Purpose: Tokenization replaces sensitive card data with non-sensitive equivalents (tokens), minimizing exposure and reducing compliance scope.
  • Implementation: Integrate tokenization solutions to handle card data securely and simplify PCI DSS compliance requirements.

3. Firewalls and Network Security

  • Purpose: Firewalls and network security tools protect cardholder data by establishing a secure boundary and preventing unauthorized access.
  • Implementation: Configure firewalls according to PCI DSS guidelines, regularly update firewall policies, and deploy intrusion detection/prevention systems (IDS/IPS).

4. Endpoint Protection

  • Purpose: Endpoint protection software safeguards systems from malware and other threats that could compromise cardholder data.
  • Implementation: Use up-to-date antivirus and anti-malware solutions across all systems involved in handling cardholder information.

5. Access Control and Authentication

  • Purpose: Strong access controls ensure that only authorized personnel can access cardholder data.
  • Implementation: Implement multi-factor authentication (MFA) and role-based access controls (RBAC). Regularly review and update access privileges.

6. Vulnerability Management

  • Purpose: Identifying and addressing vulnerabilities helps prevent potential data breaches and security incidents.
  • Implementation: Perform regular vulnerability scans, penetration testing, and apply security patches promptly to address discovered vulnerabilities.

7. Logging and Monitoring

  • Purpose: Logging and monitoring tools track access to cardholder data and detect suspicious activities to respond quickly to potential threats.
  • Implementation: Implement comprehensive logging systems and use security information and event management (SIEM) solutions for real-time threat detection and analysis.

How High Risk Match Supports PCI Compliance with Technology

Comprehensive Payment Solutions: High Risk Match provides PCI-compliant payment processing solutions that incorporate advanced technologies such as encryption and tokenization. Our solutions are designed to secure cardholder data and streamline compliance efforts.

Expert Guidance: Our team of experts offers advice on selecting and implementing the right technologies for PCI Compliance. We guide you through integrating these technologies into your compliance strategy effectively.

Continuous Monitoring and Support: We offer ongoing monitoring and support services to ensure your PCI Compliance is maintained. Our services include regular security assessments, vulnerability scans, and updates to adapt to evolving threats.

Employee Training and Awareness: High Risk Match provides training programs to educate your employees on using technology for PCI Compliance. We help develop effective security policies and practices tailored to your business needs.

Partnering with High Risk Match ensures that your business leverages the best technologies to achieve and maintain PCI Compliance. Our solutions and expertise help you safeguard cardholder data and streamline your compliance process.

For more information on how we can assist you with leveraging technology for PCI Compliance, contact us at info@highriskmatch.com or call 1-877-242-2009.


Meta Description: Discover how various technologies, including encryption, tokenization, and endpoint protection, assist in achieving PCI Compliance. Learn how High Risk Match can help streamline your compliance efforts with advanced security solutions.

Keywords: PCI Compliance, PCI DSS, Data Encryption, Tokenization, Network Security, Endpoint Protection, Access Control, Vulnerability Management, Logging and Monitoring, High Risk Match

Tags: PCI Compliance, PCI DSS, Data Security, Encryption, Tokenization, Network Security, Endpoint Protection, Access Control, Vulnerability Management, High Risk Match