3 Credit Card Processing Myths That Are Utter BS

3 Credit Card Processing Myths That Are Utter BS

They say the more you learn, the less you fear. Credit Card Processing is an intricate concept for most of us to grasp. The vast number of options or features to take note of is enough to leave one stumped. Additionally, there is a great level of fear and paranoia surrounding it, given the amount of fraudulent activity that is associated with credit cards. However, credit cards are one of the most used payment methods today. To continuously appeal to your customers, you have to evolve and develop as the world does to provide your customers with the most convenient and seamless shopping experience. You may still have your hesitations and doubts, but we are here to dispel some myths you might believe!

Myth 1: Using Credit Card Processing Is So Expensive, And Just Not Worth It!

Using credit card processing is not as expensive as you may think. Find a merchant service package that keeps prices as competitively low as they can. It will be worth it in the long run.

Why? Firstly, get on par with your competitors who are also using credit card processing to give your customers the most convenient and satisfying customer experience. Next, cash can be improved for your business related to invoice collection as they are electronically processed. Bad checks will no longer be an issue with credit cards as it is electronically processed on the spot! The money you spend now on credit card processing will surely translate into you saving lots of trouble in the long run.

Myth 2: The Purpose Of Credit Card Processing Is Only To Accept Payments. I Can Do That Without Credit Card Processing!

Businesses are using credit card processing for a reason, to confer the maximum level of convenience to customers. Not only that, with credit card processing, together with your POS system, you can open the doors to many more functionalities with fully integrated payment gateways that have features that can transform your business operations. Such integrated systems can aid your business in inventory and staff management and grant your customer a seamless experience. Such integration would be crucial in boosting the well-being and organization of your business!

Myth 3: Cardholders’ Data Security May Be Easily Compromised.

Security breaches by cybercriminals, especially relating to POS systems have indeed been on the rise these days. You definitely cannot prevent cyber criminals from trying to hack your system, but what you can do is protect yourself from falling victim to them. That is why it is important to find the right credit card processor with appropriate security features to keep such incidents from happening. An important factor to take note of is that your processor adheres to the Payment Card Industry (PCI) Data Security Standards (DSS). Some payment processors such as Millenium Payment Systems achieve the requirements easily, with advanced security tools such as end-to-end encryption, and Integrated EMV Chip Sensors.

Millennium Payment Systems Is Here To Take Your Business To The Next Level

Millennium Payment Systems offers reliable, secure, and highly efficient options to develop and grow your business to its highest potential. Find more about Millenium Payment Systems here.