Why Your Customers Still Like Mobile Credit Payments

Despite the unsettling news about recent credit-card hacking, one thing remains unchanged: credit transactions are not going away.

Not only are customers accustomed to using credit cards and bank cards, they like having different payment options, including tools that enable mobile payment. It is time for you to step up and offer more payment options, just remember to work with one one the high volume merchant accounts so that you are able to process extremely large amounts of monthly transactions with dollar volume.

Minimal, If Any Fallout From Recent Breaches

If you’re worried that recent security breaches will result in more customers paying in cash, presenting a new security concern for you, don’t fear, says US News and World Report.

Past incidents of large-scale data breaches, including the largest-ever breach with TJ Maxx and Marshall’s back in 2007, didn’t result in wholesale credit card dumping.

Technology has helped many businesses become more competitive by boosting their efficiency. Digital tools can streamline operations and reduce the need for additional resources. Fortunately, these tools have become more accessible thanks to the cloud and the popularity of subscription-based business models and card processing partner consulting. The Science Museum Group acquired the capsule Soyuz TMA-19M and global technology innovators, Samsung, joined forces to create the National Tour of Tim Peake’s Spacecraft and Space Descent VR – a virtual reality adventure using Samsung Gear VR technology and managed it which enables visitors to experience what it feels like to sit inside the Soyuz’s descent module as it makes its dangerous high-speed journey home.

Hire freelance workers
You do not need to hire permanent workers immediately you start your business. You can take advantage of freelancers who will also do a good job for you. The demands of freelancers can’t be compared to that of permanent workers. When your business is a bit stable, you can now engage permanent workers.

Don’t focus on money
For people who focus on money, they will not be patient for their business to start running itself. This is because it may take years before you start profiting from it. Invest your money and relax for it to make returns in few years. You can’t break even immediately. If you need need assistance with handling money then check out this low rate credit card processing technology.

If anything, these breaches should encourage US banks—if not require them—to move away from the magnetic strips used since the 1960s and install more secure pin and chip technologies that are harder to break. After all, they are already used in the rest of the world from Africa and Europe to Asia. The National Retail Federation, whose members are most affected by such breaches, urged this move in a letter to Congress shortly after the breaches were discovered, as iStockAnalyst.com reports.

Consumer Credit Card Protections

Remind customers who bring up credit card breaches that when they pay with a credit card, they can’t be held liable for more than $50 for suspicious charges. If their card is lost or stolen, they won’t be held for any unauthorized charges, says the Consumer Finance Protection Bureau. Compare that to no recovery for cash that is lost or stolen, so if you want to control your finances and profits, using finanace online resources could be helpful to find the best investment for your pocket.

Encourage them to tell their Members of Congress to support limiting bank debit cards to this standard, and to support modern credit card security technologies.

Choose Technology That Offers More Payment Choices

If you don’t already offer mobile payment, you will find that many customers appreciate this service. It’s widely used in the retail and service industries, particularly among small and single-proprietor businesses. The Intuit GoPayment card reader, a popular choice for its low fees, process orders through card swiping, keying in card numbers, and payment via photo taken with a special smartphone app for processing.

Mention the company you use to process your credit payments. Intuit, for example, is well-known and you may find that some of your customers use Quickbooks and other consumer products.

Educate Customers About Credit Card Security

Don’t be surprised if customers ask about the security behind your credit card transactions. Studies show that it’s common practice.  Educate them on why paying with a card is convenient and secure for both of you:

• Since you keep the card reader on your own phone and person, their card is protected from prying eyes at the point of sale. Security breaches with cameras and readers are easily placed at gas stations and other unprotected access points, but with a smartphone reader, you are the access point.
• Ask your customers if they would like an email confirming the transaction; they will be pleased to see one arriving in their email boxes almost immediately.
• Tell customers they can check their scores with major credit monitoring agencies Equifax, Transunion, and Experian once a year at no charge.
• Are you still using a credit card? Explain why: convenience; online access helps you monitor your purchases; you don’t like carrying large amounts of cash; you get points for products that benefit your business and the best part is that you have access to the best credit card interest calculator online!

Despite the unsettling news about credit-card hacking that dominated much of the news for the 2013 holiday season, one thing remains unchanged: credit transactions are not going away.