Data security is essential for merchants and online entrepreneurs. The payment industry has shifted to online and digital methods of money transactions, and while that brings with it many benefits, it also created new avenues for fraudulent activity. Luckily, there are several industry practices you can leverage to better protect your entire payment system. To help you reduce your risk, provide your customers with a safe form of payment, and to protect against bad actors, read on to discover the 10 best practices for secure online payment processing. Table of Contents Understanding Your Payment System10 Secure Online Payment Processing Best…
Author: Andrew
As businesses adapt to a new normal in the wake of COVID-19, there has been an increasing focus on ensuring safety across operations. Payments, in particular, have come into sharper focus in this respect. With so much scrutiny on safety, there has been a greater effort to reduce contact between customers and employees and create a safer shopping experience – which is why new solutions are coming to the fore. Businesses have started to incorporate NFC (near-field communication) contactless payments into their operations, a solution that offers a great deal of convenience and security for customers and businesses alike. NFC…
If you are a business or own an ecommerce shop, you need a payment processor. Your customers want to make digital purchases with e-transfers, debit, and credit cards, and processors facilitate those transactions between you and any financial institution. In our digitally savvy society, if you cannot offer online and easy payment methods, you are missing out on potential revenue opportunities. With 2.8 billion credit cards in use worldwide, your business will grow by introducing digital transfers methods. Credit cards increase shopping cart size, make real-time transfers, reduce business liquidity requirements, and open your company to international markets. Plus, as…
These days, E-Commerce transactions are expected to be fast, easy, and safe. If your business manages its digital payment system in-house, this can be a red flag for many shoppers. Why? Because there are thousands of fraudulent E-Commerce businesses out there. Consequently, consumers are wary of websites and online stores that don’t use popular and trusted digital payment companies and innovative payment solutions at checkout. Moreover, digital payment companies offer E-Commerce businesses a cost-effective way to finalize sales. When you choose to partner with a trusted digital payment service, you have the ability to use all of their built-in perks…
If you run or own an online business, the payment processor you select directly impacts your potential success. Your customers want to make convenient and secure payments with their debit and credit cards—over 70% of Americans own a credit card, and there are a reported 2.8 billion cards worldwide. Without a high-quality payment processor that can handle those types of payment transactions, you run the risk of an unsecured system and could miss out on potential sales. Plus, the credit card was the most used payment method in 2020, and when combined with debit card payments, both transfer methods accounted…