Facing Problems in Credit Card Processing?
Here’s how an Integrated Payment Platform can help.
Managing the transactions of a small business is not an easy task. From taking care of your credit card processing to keeping your books in line, everything can bring its own set of challenges to the table. As such, it is crucial to learn how you can improve your payment processing platform to manage your transactions optimally.
To help you with this optimization, here is a list of 5 of the most common challenges you can face while processing your payments.
1. Information Security
With the current increase in information theft, one of the biggest challenges in payment processing is information security. Without the proper systems in place, you can put your customers at risk and make them prone to fraudulent credit card processing transactions.
You are protecting your customers when you also make sure that your merchant services adhere to payment card industry (PCI) data security standard (DSS) compliance. Remember that it saves your customers from a world of risk and protects you from any liability.
2. Lack of Integration
In some cases, employees may be updating transaction records into your books manually, especially if you do not use a modern payment platform. This work is tedious and tiresome after processing a transaction. Not only that, but it also exposes your business to a world of errors.
By turning to an integrated payment platform, you can save time and reduce errors by having transaction records updated automatically and in real-time. This also boosts your processing efficiency while allowing you to have more time to focus on other business needs.
3. High Processing Fee
How good is your modern point of sale (POS) to you if you have to transfer a large portion of your profits to its provider every single day? Not much, you say? Thankfully, you can steer clear of high processing fees by comparing credit card companies.
Remember to compare and contrast the costs offered by different yet reliable credit card processing providers. By finding a payment processor that strikes a perfect balance between affordability and reliability, you can optimize your costs by a large margin.
4. Support of Multi-channel Payments
If your merchant services support only a primary feature or two of card reading and payment processing. You may find yourself using one vendor for POS payment processing, another for online payments, and a completely different processor for on-site deliveries.
Multiple vendors likely mean varied and multiple solutions that can increase complexity and costs. Fortunately, there’s an easy solution here that comes in the form of an Omnichannel, integrated payment platform. By consolidating all your payment processing types under one unified platform, you can ensure a faster, simpler, and more affordable payment processing experience.
5. Lack of Support
When you have a payment processor that closes shop after regular business hours, this can make it pretty challenging to find support if you run into any outages or issues after hours.
This is why you must find a payment vendor who not only offers optimal uptime for credit card processing but is also available around the clock with reliable support. This makes sure that you and your customers do not run into unpredictable situations without knowing that someone has got your back.
At Fattmerchant, our state of the art integrated merchant services are designed with security, technology, and customer service in mind. Whether you are looking for Omnichannel support or advanced solutions, we can ensure to fulfill all your business needs.
Request a savings consultation today to learn more about our integrated payment platform and how it can help your business steer clear of everyday challenges.