Do you have a retail business? If so, you probably know the importance of giving your customers as many payment options as possible. Having to turn customers away because you only accept cash can put a serious dent in your revenue. Therefore, it’s important for retail establishments and other businesses that see regular consumer traffic to provide as many options as possible, like accepting credit cards and debit cards.
But is credit card payment processing reliable? Today, with the news of consumer data breaches in big box stores across North America, many consumers may be wary of using a credit card in your store, especially if you happen to be a small business. But with a certified payment processing service that gives you flexibility to take all types of credit and debit cards, you can reassure your customers that their information is safe with you.
What do certified payment processing companies do? Here are some of the services that you can expect when you find a reliable merchant services provider:
1. Security: When searching for a payment processing company, it’s important to make sure you find one that will give your transactions the right level of security. Today’s credit card payments should be sent through a secured connection and encrypted to prevent hackers from easily stealing customer information. If you see the term Secured Socket Layer or SSL, this refers to security for card payments. You should also see the phrase PCI-compliant, meaning that the payment system meets international standards for protecting consumer data.
2. Convenience: Giving customers the option to use a credit or debit card in your store can increase the likelihood of a purchase. Most customers have Visa cards, as these account for 52% of spending volume worldwide and an average of $1,725 spent per cardholder per year. MasterCard is second worldwide. However, there are debit card payments, too, so see how many different types you can accept when you use a certified payment processing company.
3. Options: Today’s credit card transactions aren’t just done on traditional, bulky POS systems and pin machines. Mobile payment processing makes it possible to accept payments on smartphones and tablets. All you need is a small card reader that clips to your mobile device, and you can take payments from anywhere in your shop. Many business owners use this option during peak shopping hours or around the holiday season to improve the flow of traffic through the store. (This option is also excellent for businesses that travel.)
How do you ensure your customer’s safety with data? Tell us in the comments. Get more here: www.bnasmartpayment.com