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.
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
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:
The customer should be asked to enter his CVV number on the back of his card
Address verification should be done a huge transaction.
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.
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.
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.
Most often credit card purchase is common in today’s global market. Millions of people have more than one credit card it has become an easy and appropriate way to pay for an item which the consumer want to purchase online. About 80% of online sales happens with credit card payments. If your business is not accepting credit card payments, you are missing a great opportunity to increase your sales.
Here are some essential ways to increase sales with credit card payments.
- It has been proven that consumers by more products on online if a business has their preferred payment methods. By providing more payment options like; debit card, credit card and other electronic forms of payment it rapidly increases the sales and brings more customers.
- Using credit card transaction is easier, flexible and convenient way of payment provided to customers. Companies must stay reasonable by making sure that they are meeting the payment option demands of consumers. Accepting credit card payment boost business by increasing sales and profitability.
- Accommodating credit cards will increase consumer desire buying. MasterCard payment allows the consumer to make impulsive payments. Card customers make purchases between 50% and 60% more than cash and checks.
- Accepting credit card allows the merchants to expand their business at international level. It also allows to acquire sales from international markets and cover wide area coverage.
- Visa cards permit businesses to preserve and increase sales in between paydays. Credit cards allows people to make purchases anytime, especially when cash is short.
- The accepting cost for credit cards will save business money because it is much cheaper to keep an account of sales which will cut overhead and time.
- Credit card processing can prove a revenue generator if a business is involved with internet sales.
In this present competitive world the business want to increase the sales using all convenient way. Online Credit Card Processing payment has proven one way of maintaining and increasing sales. There are many point of sales terminal that makes credit card payments easy, safe and convenient.
There are many alternatives of gathering payment process. It is important to do your study in order to pick the best point-of-sale apparatus or online merchant account to meet your business needs.