For many businesses, payment processing is one of the most important parts of running a business. It’s also one of the most complicated. From choosing the right payment gateway to integrating it into your website, there are many elements to consider when making sure your payment processing system is secure and efficient. To help simplify this process, we’ve created this guide that will explain everything you need to know about streamlining and securing payments for your business:
A Guide to Streamline, Secure, and Efficient Payment Processing
Streamline, secure and efficient payment processing.
Streamline, Secure, and Efficient Payment Processing! That’s a mouthful but it’s something that every business can do to improve their customer experience. Let’s dive into what this means:
- Streamline – Your customers want to be able to make purchases quickly without having to enter any personal information or wait for approval. They also want their payments processed securely so they don’t have to worry about identity theft or fraud.
- Secure – It is essential that you protect your customers’ personal data from unauthorized access by implementing strong encryption standards for all data stored in your system including credit card numbers, account numbers etc., as well as maintaining physical security measures such as locked doors with keypads etc..
Improve Customer Experience
A successful business is one that has happy customers. A customer-centric approach to payment processing will help you achieve this goal, and we’ll show you how in this section.
Customer Experience Is Not Limited To The Customer’s Interaction With Your Product or Service
Your customers have many interactions with your business, not just the one where they buy something from you. They may interact with other staff members in person or over the phone, they might contact customer service via email or chat app (and even social media), and they might even reach out to other departments like human resources or IT if they need help setting up their computer at home. All these interactions add up to create an individualized experience for each customer–and if something goes wrong during any of them, it could lead directly back into negative reviews on Yelp! That’s why it’s important not only for businesses but also consumers as well; people want their money back when things go wrong on Amazon Prime Day (or any other day).
Leverage payment processing channels that are easy to use, secure and integrate with your business.
In order to streamline, secure and efficiently process payments, it’s important to leverage payment processing channels that are easy to use, secure and integrate with your business.
Examples of payment processing channels that are easy to use:
- Stripe (https://stripe.com/)
- PayPal (https://www.paypal.com/)
Example of a payment processing channel that is not easy to use:
- Square (http://www.squareup.com/)
Make it simple for your customers to pay you.
The most important thing you can do is make it simple for your customers to pay you.
It’s no secret that people often get frustrated when they try to pay online, especially if they’re not used to doing so. If your site makes it difficult for customers, or requires them to enter too much information, then more than likely they will simply abandon their purchase and go elsewhere.
Don’t let this happen!
Get paid faster.
You can speed up the payment process by using a payment gateway that has direct connections to your bank account. This means that customers will be able to pay you faster, and you’ll have access to their funds sooner.
When choosing a gateway, look for one that offers instant payments or same-day processing options. If possible, choose a gateway that also allows you to receive money via ACH transfers because these types of transactions take less time than traditional checks or wire transfers (which may take days).
Use a payment gateway that enables your customers to pay online via the most popular payment options.
You should be able to accept all of the most popular payment options. This includes credit cards, debit cards, e-wallets and checks.
- Credit card payments: Some merchants have a high volume of transactions or need to process multiple transactions at once. In these cases it may be best to use an integrated system that allows you to accept credit cards through your website (or mobile app). These systems can include Stripe or Paypal so make sure you check out how they work before deciding on one.
- Debit card payments: If your customers want to pay with their bank account instead of using a credit card then this is also possible with some systems like Stripe but again make sure you know what kind of setup they require before signing up!
Get paid through the most secure ways possible. Take advantage of fraud protection tools and other security features. Keep your data safe and secure with encryption technology, PCI compliance standards and more. Track every transaction in real-time with a cloud-based platform that provides complete visibility into all payments received by your business.
To get paid through the most secure ways possible, you need to use a payment gateway that enables your customers to pay online via the most popular payment options. These include credit cards, debit cards and ACH bank transfers.
If you’re using an older version of QuickBooks and want to upgrade it for better security, here are some steps:
- In QuickCommerce’s Settings menu under “General”, click on “Update Account Information”. This will take you through a list of all your accounts with their current versions listed next to them (you’ll probably see this screen if there are any errors). Click Next until you reach an update screen where there will be instructions telling what needs updating for each account type (eBay/PayPal should say “Upgrade Now”). Follow these instructions carefully!
Reduce transaction costs by eliminating intermediaries between you and your customer.
In order to reduce transaction costs, you must be willing to eliminate the need for a third party. A third party is any intermediary between you and your customer. The most common types of intermediaries are:
- Payment processors (PayPal)
- Fraud protection services (Stripe)
- Customer service agents (Square)
By eliminating these intermediaries, you can eliminate the associated fees as well as reduce fraud risk because there isn’t another company involved in processing transactions that could potentially get hacked or lose data on their end.
If you’re looking for a payment processing solution that will help your business run more efficiently, it’s time to take action. Streamline and secure your payment processing by choosing the right provider.