How using a secure payments service can protect your company and your customers
Your business runs on payment transactions…but are they secure?
In our digital age, transactions take place on many different platforms: electronic, mobile, online, telephone, in-person, and more. These platforms are emerging with new technologies and features constantly…and new methods of fraud are emerging even more quickly.
Traditional Merchant Services
Traditionally, these platforms were services provided by many different companies who specialized in a specific form of payment method. This meant that transactions passed through multiple payment gateways and processors before reaching your bank. As you can imagine, numerous avenues of data transmission left many exposed vulnerabilities for possible fraudulent interception.
Luckily, it was more common in those days to have a primary method of accepted payment so companies could limit their exposure by limiting their available options.
The Modern Payment Landscape
These days, limiting the payment options available to your customer is not the best strategy. We, as consumers, are accustomed to choice and variety – and that includes how we prefer to pay for things.
For card-not-present transactions which are increasingly more popular, Three Domain Secure helps ensure that transactions are not fraudulent by requiring that three domains are involved to complete the transaction: the merchant receiving the payment, the issuer of the credit or debit card being used, and the technology or platform that processes the transaction.
To ensure that all domains are authenticated, a password, biometric, or encrypted code is usually required. Once this is verified the chance of a fraudulent attempt is decreased and the liability is shifted from the merchant to the issuing bank, resulting in fewer fraudulent charges and chargebacks.
The Benefits of Working With a Secure Payments Company
In addition to getting experts in the field of financial security to keep you and your customers safe from fraud and loss, your business will experience a variety of additional benefits from working with a secure payments company like FirsTech:
Custom Solutions to Fit Your Needs
For decades, we’ve been designing innovative solutions for businesses in various industries and of various sizes.
As a secure payments company, we can combine our menu of services for you to extend to your customers and offer your own combination of: electronic, mobile, telephone, POS, and online payment solutions that can also be branded and seamlessly integrated into your existing platform.
Simplified Operations and Operational Costs
With one integrated dashboard, you can view all payment methods in one place. This simplifies reporting and accounting while also reducing service costs. As a result, you can offer a full and diverse payment offering with lower operational costs.
With a simplified and centralized platform, and securely authorized payment transactions, reconciliation is also faster. This means that your payments are batched and transferred more quickly, and can be seen in your account as soon as the next day.
As specialists, we remain compliant for all necessary security regulations (PCI, 3D, AVS). You can rest assured that your systems are up to date with the latest compliance with all necessary certifications.
Specialized in Security
The digital world moves quickly, so it requires a dedicated specialist to be knowledgeable of the latest fraudulent schemes as well as the latest security technologies. Working with a specialist in payment security gives you the confidence that the latest fraud trends will be known and addressed, and your payment systems will be regularly maintained to proactively protect any vulnerabilities.
With an expanding variety of service offerings, we want to grow with you. Whatever the current size of your organization, and to whatever size your organization will grow to be, our dynamic offering has a solution to fit your current and future needs.
Looking for a Secure Payments Company?
FirsTech can help. With decades of experience in designing systems and services to fuel our clients’ success, we have a comprehensive offering of secure payment solutions for your business. Contact us today for more information.
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