The world of online payments is constantly changing. Whether your business is solely online or online in addition to a brick and mortar location, keeping up with the latest technology and trends can help you maximize your profits, streamline operations, and increase security for your customers and staff.
Ensuring your online payment process easy to navigate, secure and fast are keys to keeping customers coming back. Here are some trends for online payments that are worth exploring for your business.
Contactless Payments
Even with online purchases, contactless payments can enhance your customers’ experience with your store. There are millions of contactless cards in circulation and that number will only increase. This technology gives customers the option to hold a card up to their mobile phone for reading instead of typing in the full card number.
Temporary Security Codes
Security has come a long way in the online world! Temporary security codes are a second level of defense against fraud.
More Options for Payment
While most online retailers accept all major debit and credit cards, what about other forms of payment? While PayPal integration is a popular option used by many businesses, don’t forget about mobile wallet payments such as Venmo, Apple Pay or Google Pay, or maybe even cryptocurrency.
Adding these and other payment option is not typically difficult to do nor expensive for the business owner.
Biometric or Voice Payments
Whether it’s facial recognition, fingerprint readers or even voice payments, there is a variety of new technologies designed to keep your customer’s information safe and secure.
While biometrics have some weaknesses and flaws, they help boost consumer trust and security overall.
Security, Security, Security!
Stopping credit card fraud is a serious issue for all businesses – online or in person. Each year in the United States, more than $9 billion dollars is lost in illegal transactions! Customers must do their part to keep credit card numbers, passwords and other information out protected and secure. Business owners also responsible for keeping the transactions secure and protected.
With new advancements in Artificial Intelligence (AI) and other ground breaking security, business owners have more options than ever to secure their systems and provide quick, easy payments.
The professionals at Hometown Payment Solutions do the work for you. We can explain your options for online payment and how each will affect your business. Contact us today for a free consultation.