When ecommerce was initially becoming a new trend for consumerism, there were a number of concerns that buyers had about making an online purchase. Security is still a concern for most people, and although credit card companies are taking steps on their end in order to reduce fraud, unauthorized charges and identity theft can still happen. However, many shoppers are also aware of points to look out for when making purchases, in order to reduce the chance falling prey to these possibilities.
Online vendors should also be aware of how credit fraud can happen, and how this can affect business reputation. Many of the issues that can leave consumers open to danger are also factors that will impact the businesses. Beyond the issue of reputation and being considered a safe site for commerce, fraud can also be an issue for:
• Corporate insurance • Company accounts • Customer service concerns • Overall sales
This can mean that decisions for accepting credit card processing and online payments can impact the entire business, and making the best choices for different options becomes vital to sustaining fiscal growth.
When taking online payments, the majority of fraud issues can occur at two major points in the transaction. While they are both related to hackers stealing information, either outright or through key logging viruses, web transactions can become susceptible to this type of infiltration when security is low.
• When using a third party payment service, this can occur when transitioning between a secure payment provider and the main website splash page. • If no third party is being used, then this can also occur if the main website does not have a secure means for capturing credit card payments.
Both of these considerations can make it very appropriate to have a merchant account that is directly tied to the software of the website. With third party payment acceptance, while the transaction site may have the appropriate security protocols in place, this will not necessarily protect against hackers tapping in as the customer is being redirected to the secure site. Online vendors who have an unsecured credit payment checkout can also be putting customers at risk, since many of the basic site firewalls are easier to hack than designated checkouts that are an actual part of the website.
Setting up a merchant account for online credit payments will integrate this secure program with the set up of the main site. This will then protect the customer from risk during splash pages or trying to connect with the secure third party, and will automatically improve protection over unsecured site related capture. The result is that this reduces the chance of customers being caught in what is the same as dark alley online.
Aside from the convenience of using credit and debit payments for nearly any transaction, online retailers also need to consider the fact that many consumers do not even use cash for real world purchases. While part of this can be traced back to budgeting, part of the thought process is that paying with plastic is generally safer.
Extending this courtesy to online customers should include the same attention to safety, and should also reassure clients that the vendor has a great amount of consideration for customer care. The result is that reputation and integrity for the vendor can also increase the amount of traffic that a trusted site with a designated merchant account can receive.