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Not Accepting Credit Cards Online is Not Acceptable

With an estimated $226 billion in online transactions in 2012, e-commerce is no small business. Without even factoring online bill payments etc…there is no question that consumers are looking to do their business virtually. If your business isn’t already offering an online portal, whether it’s a shopping cart or payment for services, you could be missing out on good business.

Now perhaps you just haven’t gotten around to setting up e-commerce on your website, or maybe the implications of the security and technology involved are terrifying, either way I can guarantee that if you are in business to make money, not dealing in e-commerce is a big mistake.

Maybe I can convince you to get it together. First, just to be fair, let’s look at the risk involved with accepting payments online:

  • Chargebacks by customers who falsely claim they never received their goods, or they were damaged etc… (chargebacks also happen during in person [card present]transactions, all the time)
  • You could be paid using fraudulent or stolen credit cards. (which also happens during in person transactions with counterfeit cards)
  • If you are non-compliant with Payment Card Industry Data Security Standards (PCI DSS), you could be charged penalties. (If you are accepting credit cards in person, you are completing PCI requirements. In reality this takes 20 minutes of your time on the phone and further PROTECTS you from fraud. Seems like it’s worth 20 minutes.)

So, now that we have that out of the way. Let’s talk about some ways to make a payment portal or shopping cart as secure as possible, safeguarding you from these risks and getting you over your reluctance to e-commerce.

  • No matter what, your ecommerce website needs to be secure, no exceptions. Not sure what this is, don’t worry, ant legit processor will walk you through it. This is not only for the peace of mind of your customers, but for your safety as well (The web address should begin with https:// {S stands for secure} as opposed to https://)
  • Once you get your site setup, Get PCI compliant!! It’s really not that difficult.
  • Include a thorough and updated privacy and refund policy on your website.
  • If you are mailing products, utilize proof of delivery (POD) to avoid fraudulent chargebacks. Make sure whatever program you are using for online processing you are capturing as much information as possible in the form fields at the time of sale. This includes full name, address verification, and CVV code (3 digits on back of card). Doing so will greatly increase your ability to protect yourself from fraudsters using stolen card numbers etc…

All of these details can be facilitated for you, assuming you have a reliable and informed processor handling your online payments. What a coincidence, I happen to know a good one! If you would like to set-up an online shopping cart or accept payments on your website Contact Us at NTC Texas.

 

 

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