subject: Payment Processing Solutions For Every Business [print this page] Making payments with credit cards and debit cards has become a way of everyday life for most consumers, and merchants have quickly caught on. The ability to accept credit cards for business not only increases sales and improves customer convenience and satisfaction, but it also allows for a more streamlined and efficient payment process. Credit card processing services can benefit any business, from a small restaurant to a large waste management company. Below, learn about different payment processing solutions and the importance of payment security.
Electronic Invoicing:
Today's consumers are relying more on the convenience of the Internet to shop and pay bills. Electronic invoicing allows merchants to bill customers online, reducing the postage, paper, envelopes and mailing costs associated with paper billing and gives customers the access and control they need to manage their accounts. Customers enjoy flexibility and convenience, and by paying bills online, they can avoid lost invoices and late payments. You can even send out reminders to customers when a payment is due.
Hosted Payment Forms:
Accepting credit cards online has its risks, as thieves are continually trying to hack into databases and compromise sensitive credit card data. Hosted payment forms make online payments more secure, and when hosted on the payment processor's secure server, they also help to alleviate responsibility from the merchant should information be stolen. Benefits of hosted payment forms include reduced annual PCI compliance audits and fees, reduced risk of liability, one-time or recurring payment capabilities, and much more.
ACH:
ACH payments are based on the Automated Clearing House, and refer to a federally regulated electronic network that allows banks to send money back and forth. Merchants use ACH for direct deposit, recurring payments, electronic checks, e-commerce payments and more. The electronic process helps merchants save time and money, while customers can enjoy the convenience of paying directly from their bank accounts.
Secure Payments:
Keeping credit card information secure not only protects consumers from potential loss, but it also protects merchants from hefty fines that could seriously impact their business. When merchants accept credit cards for business, they must also implement advanced security features that keep data secure at all points of the transaction, from the card swipe to authorization to storage.
Effective security features include Address Verification Systems (AVS), end-to-end encryption (E2EE) and tokenization. Though the upfront costs for sophisticated security may be daunting to some merchants, these safety features help save hundreds of thousands of dollars in the long run.
by: Julie Henaghan
welcome to Insurances.net (https://www.insurances.net)
