The modern American is all too familiar with the concept of credit card fraud, but they still can’t live without their credit cards. It’s too deeply ensconced in their lives. So rather than focusing their security efforts on their cards, they keep a closer eye on the spaces where they do their shopping. The savvy customer knows to inspect ATMs and keypads for skimmers. They usually know not to open links embedded in emails from their service provider. They know to shade the screen when they’re entering a PIN in their phone or card reader. How can you assure these security-conscious customers that you share their security concerns and meet their standards?
- Communicate clearly about their purchases
When someone buys from you, they may not get an exact picture of the money spent until they review their monthly card statement. Keep them well-informed to avoid surprises. Email them a receipt with the amount they paid and, if applicable, a picture of the item they will receive. The email should ideally include a tracking number, delivery details, your refund policy (even if the policy is “no refunds”), and a working contact number that they can use to reach a human being who works for your company. It should also clearly show the name of the product / service they bought, and the name of your business entity exactly as it will appear on their statement, so that they will recognize the billing information on their card statement. To further avoid confusion, it is highly recommended that you make sure that you use a payment processor that will show your customers your name on their billing statement, and not the name of your processor.
- Pick a reliable payment processor
Your selection of a payment processor will be driven by their package (included services, affordable fees, reputation, etc.) It may also be influenced by your financial circumstances (credit score, financial history). Some payment processors will accept ‘high-risk’ business segments like gaming, for example, but many will not. Some processors may take you in, even with your prior bankruptcies and bad credit. But make sure you also choose a merchant account provider that takes security seriously, uses military-grade encryption, and will assist you with PCI compliance.
- Prominently display any badges provided by your provider
Some merchant account providers will provide badges you can display on your web page that will let your customers know what provider you are using, so they can be assured that their money will be safe in transit. If available, then displaying those badges is highly recommended. This can provide an additional level of confidence to your customers.
For more information on assuring your customers that their personal data is safe, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.