In today's digital world, the old expression "cash is king" is becoming as outdated as a gas station payphone.
Driven by a new mobile society and an explosion in the capabilities of Internet-enabled devices and e-commerce, online credit card processing is now a routine part of the business day for many small businesses.
In fact, fewer and fewer point-of-sale purchases are expected to be made with cash.
As busy as they are, it's easy for small businesses to overlook a few important card processing steps that can put their organization at risk.
Improper handling of customer credit cards can leave your business vulnerable to fraudulent transactions, chargebacks, and possible legal action.
Here are a few tips to keep in mind for safe processing of credit cards to help avoid costly mistakes:
Know the Rules. Even very small businesses are held to the same standards as large organizations when it comes to proper processing. All businesses that accept credit cards must adhere to the Payment Card Industry Data Security Standard (PCI DSS), , a set of requirements designed to ensure that any merchant that processes, stores, or transmits credit card information maintain a secure environment. To be safe, review the most recent policy with your staff regularly to make sure they understand how to protect your customers' personal information.
Store Data Securely. Be on the lookout for red flags that might signal a card is a fake, like a missing signature, damaged or scratched magnetic strip, or numbers that don't line up evenly. Ask for photo verification to ensure that the name on the card matches the customer's photo ID.
Watch Out for Fakes. To avoid risk of fines or fraud liability, credit card data must be stored and managed securely. Remind employees not to write down credit card numbers or to ever store credit card data to charge at a later date.
Determine current and future bandwidth needs. Are you planning to add more physical offices, employees, or devices in the future? Thinking about moving to cloud-based data storage? Considering adding customer videos to your website? All of these - and more - will affect your need for bandwidth in the future.
But processing of credit cards safely and securely, while an important element in small business success, is only part of the larger picture.
The new reality: to maintain a competitive advantage, businesses need bandwidth.
In addition to demands from processing credit card applications, even micro businesses today often have needs for sharing massive documents, e-commerce, accessing cloud applications, and more.
Towards that end, choosing the right Internet provider - one who can allow you to scale quickly and easily as needed - is more critical to business success than ever before.
At Verizon, we can help you assess your current and future needs and implement the right solutions quickly and easily.
Our Merchant Services are customizable to fit your budget and the unique needs of your industry, whether you own a restaurant or retail store, run an e-commerce business, or manage a service business.
We have payment processing systems for your small business that can help:
We can also meet your need for bandwidth - no matter how quickly or how big your business grows - with scalable, reliable business Internet packages that offer the speed and support you need.
In certain areas, Verizon also delivers FiOS to small business customers, offering Internet speeds of up to 500/500 Mbps.
Another factor to consider in planning for future bandwidth needs is that as companies move more of their business applications online, upload speeds are becoming increasingly more important.
Of all the broadband options available today on the market, only FiOS offers SpeedMatchSM, which delivers matching upload and download speeds to share high-bandwidth files in a flash.
Whichever Verizon plan you choose, you'll get 99.9% network reliability and consistently fast speeds - even during peak periods.
To find out more, why not visit us online or give us a call today?
Turnkey credit card processing. Verizon Merchant Services offers a comprehensive solution with quick and easy setup; transaction processing in just 2 to 4 seconds; reliable payment processing; PCI compliance tools, live 24/7 customer support; fraud prevention monitoring and education; and no long-term contract.
Reliability. Running a successful business that includes secure credit card processing starts with choosing the right technology: one with robust bandwidth that can scale as quickly as you do.
Choice. Verizon offers an extensive range of Internet services and bundles to meet your business's unique needs.
Verizon's High Speed Internet (DSL) service gives small business owners a consistently fast speed (up to 10-15 Mbps downloads and 1 Mbps uploads) that can be counted on every day, with 99.9% network reliability.
In FiOS Internet areas, Verizon delivers one of the fastest and most reliable Internet connections available to small businesses - on one of the most technologically advanced networks.
Combined with a 30 day money back guarantee and professional, on-site installation, Verizon can positively impact your bottom line with reliable performing products that make a powerful difference for small business.
Speed. Verizon is the first in the industry to offer SpeedMatch, which offers equal upload and download speeds to send data as fast as it's received. The highest level is 500 Mbps up and down (where available)!
Support. Verizon offers professional on-site installation. An expert technician will get your Internet service up and running at a time that's convenient for you so you can stay focused on your customers.
Bundles. To save time and money and simplify billing, you can add Verizon Merchant Services to your Verizon Internet and phone bundle. For more information, visit us online today.