Secure Payment Processing
On August 5, 2008 federal authorities indicted 11 people for stealing over 40 million credit card numbers from major U.S retailers including TJX Companies, whose stores include Marshall's and T.J. Maxx, BJ's Wholesale Club, OfficeMax, Barnes and Noble and Sports Authority. No company, large or small is immune to the dangers of today’s sophisticated technological world. This makes secure payment processing a preeminent concern for every business.
It is perhaps a bit ironic that secure payment processing requires such a small investment of time and money. Credit card processing companies such as MerchantAccount.com charge relatively nominal fees for the installation and maintenance of secure payment processing systems. Consider the implications of even a small breach of security. In May of 2008 identity thieves victimized the popular restaurant chain Dave & Buster’s. They stole a relatively low 5,000 account numbers from the company. The total cost in damages amounted to over $600,000.
Most businesses are not as large or financially safe as TJX or Dave and Buster's. Such a large incident simply puts most of its victims out of business. Secure payment processing can help to safeguard against thefts like these. Even larger companies who can withstand this type of security breach face long lasting ramifications.
Combating the negative effects of credit card theft can be an effort that spans across years. Many companies never fully recover. The most profitable sale is a repeat purchase. Making an initial sale is many times more expensive and resource intensive. If a company does not have a secure payment processing system in place and its current customer base has their personal information compromised, they are likely to never do business with that company again.
Furthermore, most consumers are cognizant of the threat of identity theft. They know to safeguard personal information. They also know to look for secure payment processing before they make a purchase on line or at a retail location. If secure payment processing is not in place, they will likely choose another option to avoid danger.
Conversely secure payment processing can be a cost and resource effective way to protect customers and help build a brand. The vast majority of credit card processing solutions provide secure payment processing with the service at no additional cost. MerchantAccount.com offers personalized account representatives and technical experts to help get businesses up and running securely. Once a business has implemented secure payment processing into its operation, it can start advertising it. In fact companies that implement secure payment processing and make note of it on their website regularly experience much higher conversions rates. Store locations also notice the effects. Brand confidence is a huge benefit.
START ACCEPTING CREDIT CARDS TODAY! Fill out the simple form above to the right or call 1-877-305-4943 to started with secure payment processing today with MerchantAccount.com.
