According to many experts, in order for merchants to find success in the changing consumer market, they must make sure that they have the ability to use online credit card processing.
In a recent article for Forbes, Ryan Sweeney, a partner with Accell Partners, says that businesses need to have the capabilities to connect with consumers via digital platforms, including social media and mobile devices. According to a recent study conducted by his company, more than 50 percent of buying decisions were made using online resources. He goes on to write that firms need to shift their business models to better meet the needs of “Web 2.0” users.
“These acceptance issues are exacerbated by factors such as achieving PCI compliance (the global standard for card payments and fraud prevention), serving international customers, attaining merchant accounts and deciphering amongst various payment brands,” he wrote.
The group in charge of PCI Compliance, the PCI Security Standards Council, recently came out with a checklist for merchants hoping to comply. Among the standards laid out were the following: Making sure all information about a transaction is encrypted; maintain a firewall on networks with sensitive information; and limiting access to data to a few people as possible.Back To Blog