In today’s business environment, it is not enough to just have a system that allows anyone to buy from you from anywhere. Consumers expect to pay for your services using their credit cards from the comfort of their homes or offices. This means that they expect to complete their transactions within a flash of the eye.
Unfortunately, there is really no room for a business that can’t meet up with this standard because several other businesses have already started providing these services. So if your company isn’t set up to accept payments this way (through credit cards), I’m afraid you’re setting up to lose a large portion of both your existing customers and prospective ones.
But with this payment system comes the challenge of fraud and chargebacks. So how will your business ensure that it satisfies its customers and, at the same time, protect itself in a world crawling with cyber scams?
The answer you seek is in this guide!
Shop around for the right credit card processor
It is just logical to think that the easiest way to beat the potential for fraud and chargebacks when you’re accepting credit card payments is to use a reputable credit card processor or a high-risk merchant account provider. And a very good place to find one is iPayTotal.
But how exactly does iPayTotal help you combat the imminent threat you face once you start accepting credit card payments? Some may quip! Well, the answer isn’t farfetched, read on to learn about them.
- They’re international standard: The best way to ensure that a credit card processing service is good for your business is to check their international reputation. And on that front, iPayTotal brushes most of its competitors aside. Not only are they currently helping businesses globally with their financial services, but they also have a physical presence in the Americas, UK, Asia, Africa, and even Europe.
- Built–in tech security program: iPayTotal’s payment gateway has a built-in “Risk” logic, which can sniff out a possible fraud faster than a K9 squad. Its “Risk” logic also has 72 odd rules for monitoring the thousands of transactions on the company’s payment gateway daily. This means that any credit card payment made on your store or site is always monitored and reviewed by their algorithms. For example, every time a card is used for payment on your store, the company’s gateway connects with the card provider to check if the card has been “hot listed.”
- World–renowned partnerships: To start accepting credit card payments on your store or site, you need a platform that accepts all kinds of cards because you never can tell which card a customer would be using. Luckily for you, iPayTotal has partnerships and alliances with top-level banks and financial organizations all around the globe.
- High–end security technology: The biggest guarantee of security is technology, and iPayTotal understands this. As a result, iPayTotal has evolved its technology to such an extent to detect the crime of financial fraud. iPayTotal’s risk management team, along with its partnered acquirers, PayFacs, and processors, have launched this program that benefits the payment processing industry.
Always prioritize options that offer custom-tailored/customizable services
When you run a new company, it is normal to require some adjustments to your system from time to time, as your business continues to take root in the industry. To prepare for this sort of adjustments, it is highly important that you use a customizable payment solution so that you will have the freedom to make adjustments whenever you need to.
Usually, there are always a minimum and maximum credit card payments you can accept in your store. But if you work with a customizable payment gateway service, like iPayTotal, you can enjoy a custom-tailored payment service in the event that a customer wants to do a long-term, big contract with you, which beats the type of payments you’ve been receiving.
Never bend the rules for anyone
Once you’ve signed your credit card processing contract with the card processor, you’ll be given some protocols to work by. Please, never ever bend this protocol for anyone. As much as you trust a credit card processing service to protect your business from fraud, you also have a part to play to ensure that you don’t handicap their efforts.
They will always inform you of the rules and protocols once payments start flowing in. Following these rules is an important part of keeping your deal with them in place and protecting your business from fraud.
Use a diversified payment gateway service
When it comes to card transactions, consumers love versatility, which means that if you don’t offer the type of service they want, they have no problem jumping ships. For that reason, it’s definitely in your best interest to work with a card processing service, like iPayTotal, which offers a variety of card options, including debit, prepaid, and gift cards.
Add the badges of the cards you accept on your site or store décor
Don’t just tell customers that you accept card payments. Instead, show the badges of the cards you accept in your store. This is a good tip to help you capture those consumers that buy on impulse. Some consumers are particularly used to doing this. Just by seeing their credit card logo on a store, they’ll go ahead to make a purchase even if they didn’t plan on buying that thing.
Share
Contributors
