E-commerce merchants these days have plenty of responsibilities and things to worry about — small businesses, in particular, may feel like they’re being left behind when it comes to things like secure payment processing solutions and card not present fraud prevention. There are plenty of great processing payment services that provide dependable protection for consumers, but merchants may find themselves struggling to pick out the best service simply because they don’t know what to look for and what to expect from a card not present payment gateway service.
So, with that in mind, here are a few basic — but important — things you need to know about payment processing solutions and card not present transactions in the world of e-commerce:
- Anyone running an online business (also referred to as “e-commerce”) has to have a secure payment processing system in order to make transactions; because consumers will make purchases online and will enter their credit card information digitally, this type of transaction is known as a “card not present” transaction.
- Most payment processing system are equipped to handle major credit card providers, and many systems also come with a fair amount of digital security, but it’s important to remember that you should look for payment processing systems that fit the needs of your business and your customers — so if you find that more potential consumers are interested in things like internet coupons and gift cards, your business will likely benefit in the long run if you splurge a little bit on a system with extra features.
- And as far as security goes, you really can never be too careful when it comes to using fraud prevention processing systems. Online stores typically have more difficulty detecting fraudulent charges before they take place, so it’s important that businesses have a process for identifying risky charges.
Ultimately, online shopping (especially mobile shopping) is likely to grow in popularity — and even though it might not seem fair, it’s up to the businesses to protect their consumers as much as possible. So, is your business ready for the challenge?