It’s true that today, brick and mortar stores still make up about 94% of all retail sales. But this doesn’t mean that it’s going to remain that way in the future. As much as shoppers like having the ability to go to a store and buy something in person, many are relishing the convenience of shopping online. This is especially true for those who are younger, and have grown up more familiar with online shopping. Online shopping provides many different advantages to Americans. For one thing, it enables them to order products from all around the world. It’s easier to shop online too; you don’t even have to leave the comfort of your home. Online shopping, in some cases, can also result in savings. Many online competitors offer better prices than brick and mortar stores, and that’s worth waiting for shipping for many Americans. Perhaps one of the greatest conveniences of online shopping is that you don’t have to worry about cash or checks — you can just pay with your credit or debit card. According to recent studies, about seven out of 10 Americans have at least one credit card. But as convenient and simple as cards are, they do have a few drawbacks, especially when they’re being used online. However, online merchants can make the world wide web safer for their customers by exploring their options in the payment processing industry. The payment processing industry is working to make buying and selling products online easier and safer; but there are a few things that all buyers and sellers should know before confirming a purchase.
Credit Card Fraud: How It Happens Online
Part of the issue with payment gateways online is that many are not as secure as they should be — often because they’re hosted directly on an online merchant’s website, rather than through separate payment service providers. Say, for example, you wanted to buy clothes from a certain online store. That online store might allow you to save your credit card information online, therefore making your next checkout easier. This might seem great if you use this merchant often, and they’re trustworthy. So, you input your credit card information, save it, and move on. The company itself isn’t who you should be worried about — but rather your account security. Hackers can hack into your account and still your credit card information. Hackers can also hack into the accounts of online merchants, who will have the information of — potentially — millions of customers on file. Fraud is a huge issue in the payment processing industry, and it’s perhaps at its worst right now online.
The Consequences Of Fraud: For The Buyer And The Seller
The consequences of fraud for the buyer are obviously huge. A person can have their entire account drained before they even notice that there is something amiss. This is especially problematic in the case of debit cards, wherein losses can be difficult to recover from. But these issues are also huge for the online merchant, even if they didn’t lose any money. According to 55% of shoppers, reviews influence their online purchasing decisions — they aren’t going to leave good reviews for a merchant whose payment gateways were hacked. Whether or not the online merchant is legally responsible for fraud issues, they will nevertheless suffer for them in major ways. Therefore, this isn’t just an issue for the buyer and the payment processing industry — but for the seller as well.
Combatting Fraud: The Payment Processing Industry’s Answer To Hackers
The best way merchants can combat fraud is through using up to date online credit card payment processing software. Credit card processing software will ensure that the buyer’s card information is dealt with in a way that doesn’t save it — and therefore, won’t leave it vulnerable to the crimes of hackers. The more proactive a merchant is in this regard, the less likely their customers will be to become the victims of fraud — and in this sense, everyone wins.