QA stands for Quality Assurance. When it comes to payment processing, there are three main areas of quality assurance. One is on the cash transaction itself, ensuring it goes off without a hitch. Two, the payment processor, to check that they are suitable for the tricky task of handling credit cards.
The third quality assurance matter regards the products or services being purchased. This generally doesn’t fall under the payment processor’s jurisdiction. Merchants have to put their own systems in place to ensure that the product meets the customer’s needs.
If it gets rejected or sent back for being late or law quality, the processor will have to return the customer’s money, and the cost will largely fall on the merchant. Unfortunately, the payment processor will lose money too, so of this happens too many times, the merchant’s account might be audited.
Encryption for quality assurance
Before a savvy buyer inputs their credit card information on an eCommerce platform, they will check the site’s security. It helps if the site has an SSL certificate. If the site’s payment processor has verifiable security measures, even better. You can tell a site has an SSL certificate if its web address is https//: instead of just http//: Instant card verification also attests to quality.
As for the payment processor, some merchants prefer to redirect buyers to the payment processor’s site while others would rather have the transaction done on their site.
Testimonials for quality assurance
Another thing buyers will check for is a customer list. For their purchases, product reviews and unboxing videos are helpful. But for the payment process itself, past clients have a bigger stake. If the payment processor has security conscious customers such as phone providers or tech-based companies, it’s a good sign for customer data safety.
Of course big companies and agencies can sometimes frighten small businesses away. You want to deal with a payment processor that meets you at your level. As you look through testimonials, check for variety. If they handle cottage industries, you might get in touch with a few of them and see how they like the service offered by their processor.
Industry regulations are also a key element of quality assurance. For card transactions, Payment Card Industry (PCI) is the main quality provision. More recently, PCI has added QIR (Qualified Integrator and Reseller) requirements. Payment processors now have to follow all these stipulations to assure customers of their compliance.
For more information about QA processes or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.