Accepting Online Payments: Security Tips For Merchants

If you are reading this blog means either you are a online payment accepting merchant or are planning to be one. The recent digitization of the world has lead to a huge raise in the profits of merchants who have been accepting online payments. But along with the profit the rate of frauds and scams also increases hence Security in your business transactions is the very first thing you need to take care.

The new merchants do not have to worry and we are here to help you with a few security tips for the safety in our online payment transactions. Stay with us till the end as we share the tips

1. Verification of every transaction

Online payment processing means accepting money in a card not present environment. But, still there are ways in which you can validate each and every transaction taking place with your business. Some of the verification processes are: 

a) The customer should be asked to enter his CVV number on the back of his card

b) Address verification should be done a huge transaction.

c) The frequency and pattern of a customer should be observed.

2. Wisely select the Payment service provider

A trust worthy payment processing service provider is the first step in having a proper Merchant Account for your business. You need to do a proper background check of the reputation and history of any particular service provider for trusting them.

3. Educate your employees along with you.

You and your need should be in complete ready position with strategies and planning if there is any kind of Data Breach in your institute so that your costumer data is preserved.

It is very necessary to take into consideration proper security measures for accepting online payments. Follow the above three tips and help your costumers with a secure and safe online transaction process.

5 Qualities to Search for in a Good Credit Card Merchant Service Provider

The expectations of the consumers today have increased with advancement in technology. Providing the customers with the payment processing of their choice is a difficult job, but with the increasing competition in every field of business it is necessary to have the perfect Credit Card Merchant Account service provider to meet ours as well as the customer’s needs simultaneously.

But the competition there has also increased so the possibilities of fake promises and visionary ideas also have increased. Hence, it is necessary to choice the perfect service provider for your credit card payment processing. Along, with the reputation it is necessary to take a look at the following aspects of the provider for better results.

1. The Support Service
Online payment processing on any business can take place on an international level during any time of the day, taking into consideration the different time zones. As a result it becomes very important to have a 24/7 availability of a support service from your Merchant Account Provider. The support can either be via mail, call or video chat, etc.

2. Long Track Record
It is necessary to have a long track record check before you select the provider. Because, more the number of transactions more money you ought to lose if the company goes down. It is necessary for the provider to be able to handle the network outages with expert supervision.

3. Safety Matters
Make sure about the security arrangements done by the merchant service provider for safer online Credit Card Payment Processing. As a helping hand the service provider can also provide some safety guidelines.

4. Experience
The providers experience can be tested through its ability to request the third party references. You can also make a background check through some expert or a friend about the credit card merchant service provider you are thinking about.

5. Contracts
Taking a closer look to all terms and conditions mentioned before signing the contract is very important. The chargebacks, the contract term and early termination fee are the main aspects to look into.

Among many other factors these are the main 5 qualities to search for in a good credit card merchant service provider.