Life was simpler way back when. Some of you may remember when televisions only had three channels. A pencil or typewriter was your primary means of written communication. When you made a purchase or paid a bill, you mailed a check or paid cash at the register. Choices were limited, but simplicity appeared to make everything a little more manageable.
Innovations have lead to more choices and greater convenience—especially in our payments world. Think of all the ways consumers pay today: cash, check, credit cards, ACH/e-check, debit cards, gift cards, etc. Merchants also have a multitude of ways to accept payments: POS, online, automated recurring billing, SMS, mail order/telephone order, kiosks, integrated voice recognition (IVR), mobile devices—you name it.
Staying on Top
To remain competitive, merchants must support the traditional methods of payment, while moving forward and accommodating early adopters of the latest technology. However, the breadth of payment acceptance options can seem like an opening for greater risk and exposure. How does a merchant make sure all of the payment data entry points are secure? How do you integrate with existing systems for ease of reporting and reconciliation? Here’s how:
1. When choosing a payment acceptance solution, look for a partner who is PCI compliant. Next, find a solution that reduces your compliance burden. Merchants who do not store, process or transmit Account Data (Cardholder Data and Sensitive Authentication Data), as defined by the PCI DSS, can dramatically reduce the cost of compliance and the risk associated with accepting payments. TC SMART products accomplish that goal and provide a clear path for compliance, data security, and fraud reduction.
2. Don’t get caught up in all the features and benefits and lose sight of the big question: Will this integrate with my existing systems and solutions and allow me to grow? TrustCommerce’s secure API, TCLink, allows merchants to integrate multiple transaction entry points and is open source. This gives merchants more control and flexibility.
A comprehensive payment acceptance solution provider can make it easier to embrace change. The convenience that comes with offering choice makes it worthwhile.