Five Advantages of an Online Payment Interface

Automated payment processing

How does your office handle credit card payments? Does your assistant connect up to a virtual terminal and manually key the customer’s credit card data? Did you know that most merchant service providers allow you to automate this process, so that customers can make payments online?

Here are just a few of the benefits your company can enjoy by setting up an automated payment interface:

Save valuable time. No more time required to take card numbers and billing information down over the phone. This can add up to significant chunk of hours over the course of a year.

Reduce the possibility for data breaches and fraud. Years ago, before we set up an integrated payment system, my wife’s policy was to immediately walk over to the paper shredder and shred the payment data. But what if you’re not married to the person you’ve hired to handle accounts receivable? With an automated payment system, there’s no need to worry about what to do with sensitive credit card information after a payment has been made over the phone. Employees won’t be tempted to misuse credit card data, because they will never see it.

Reduce PCI compliance requirements. If your company processes credit card payments, then you’re probably familiar with the term ‘PCI DSS’ (the Payment Card Industry Data Security Standard).  With most automated solutions, a connection is established directly between your customer’s web browser and your payment gateway. Payment data never enters your web server. This can often lower the burden and cost of PCI compliance.

Customer convenience. When you embed a link to your payment page in your invoice and statement emails, customers know they can pay by credit card. Many will take advantage of the convenience factor. And as a result …

Get paid faster. With integrated payment processing, many customers will pay new invoices or statement balances immediately when they receive your e-mail.

If you have questions about how to set up an automated payment interface, contact us.