One of the most common online payment issues is a breach of data security.
Over 45 percent of identity theft cases in 2019 were the result of credit card fraud.
Merchants can help avoid online payment problems. Caused by fraud by emphasizing
data security and ensuring the security of their customers' sensitive information. To prevent identity theft, payment processes should have strong fraud
protection safeguards in places, such as KYC requirements and ID check security measures.
By using an integrated payment platform, you can avoid integration issues.
Consolidating all payment types under one unified platform provides consumers with a simpler, easier, and faster payment processing experience that meets
their modern needs.
PayCly is especially important for businesses operating in "high-risk"
industries, as defined by banks and credit issuers. It can be difficult to obtain a high-risk merchant account.
Simply being labeled a high-risk business can prevent merchants from accessing generous fees. By selecting a payment processor such as PayCly that specializes
in providing efficient payment solutions and offers customers a favorable Payment Gateway in Vietnam, you can position your company for future flexible and sustainable growth.
Some Suggestions for Smooth Payment Processing
Face these common online payment issues head-on! Here are some tips to help you avoid problems and provide your customers with the best payment processing experience possible.
- Put A Premium On Security Requirements
With the proper security requirements in place, your customers can be protected
against fraudulent transactions. They can have peace of mind that their payment processing services are providing the highest level of security and not
putting them at risk from scammers. Increased vigilance will also help to avoid chargebacks and the complications that can arise as a result of them.
Security methods can assist in detecting signs of fraud. So that the appropriate
chargeback can be placed – or avoided entirely – protecting customers and avoiding costly mistakes.
- Multi-Channel Payment Support
Whether users are a sole-proprietorship start-up, a well-established multinational
enterprise, or somewhere in between, multi-channel platforms enable various types of payment processing so customers can reach their full revenue potential
most conveniently. All-in-one processing solutions simplify operations without requiring complicated implementation and can assist in adapting to
changing consumer payment trends.
- Enhanced Compatibility
Avoid mobility issues by finding a payment processing solution that is
compatible with tablets and Smartphone and can accept digital payments from anywhere. Modern payment processing platforms can offer multi-channel mobile
payments via phones from anywhere in the world, at any time. Whether users are a newly formed startup looking to collect payments or a high-risk business
looking to set up an account without paying expensive fees, modern payment processing apps provide the most accessible experience for modern consumers
to receive and deliver payments whenever and wherever they want. Modern customer expectations can be exceeded with seamless mobile processing transactions
, various payment methods, and 24-hour access.
Some Suggestions for Smooth Payment Processing
Over 650,000 cases of identity theft – the most common type of fraud were
reported in 2019. Identity theft accounted for more than 20% of the more than 3 million fraud cases reported to the Federal Trade Commission.
Credit card fraud was at an all-time high in 2019. But identity theft is
expected to rise as a result of increased data breaches. When data breaches occur, sensitive, personally identifiable information is exposed, making
people vulnerable to identity theft. Unfortunately, identity theft and credit card fraud will continue to be major concerns in the coming months as the
COVID-19 pandemic encourages criminals to launch cyber attacks. As businesses scrambled to work remotely, consumers began buying online more frequently.
While increased health threats have made people more vulnerable than ever, the crisis has become a fertile ground for fraud. Even after the crisis is
over, fraud will continue to be a major issue for payment processing security for the rest of the decade.
More than 75% of U.S. consumers engaged in transactions, whether it was an
in-app mobile payment or an online payment. Don't fall behind the competition as online payment methods continue to evolve to be faster and easier for
consumers! It is critical to stay ahead of the curve and offer customers convenient payment options.
Our payment processing
platform also includes strong security measures to help you protect sensitive data. Real-time visibility into all merchant account data and instant banking
verification ensure that accounts are legitimate and owned by the person who claims to own them in seconds, allowing you to easily reduce fraud and risk.
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