Small businesses have plenty to worry about when they start up, and one of their first tasks is usually investing into the right payment solution to let shoppers know their money and data is handled in safe, secure ways.
It’s essential to have a secure business payment solution for peace of mind, yet a number of small businesses across the UK are still struggling to grasp this. Just under a third of UK businesses (32%) with less than 10 employees were the victims of cyber-crime last year, according to business ISP Beaming. Overall, cyber-security breaches in the UK cost British businesses close to £30 billion.
There is some good news for smaller businesses though. Many are recognising this risk and increasing demands for payment solutions that will keep them and their customers safe.
Partnering with an experienced and supportive payment service provider can be one of the best ways to keep your business and its customers safe. Read our blog ‘Can an online payment service provider keep your customers safe?’ to learn more about payment security.
Secure payment solutions highlight that yours is a place to do business with
It’s not just a case of having the proper payment service provider in place to keep your business and your customers safe. It can also be a question of education about the digital world we live in, and how individuals can personally reduce the risk of a cyber-attack.
A lot of businesses are failing when it comes to identifying malicious emails, for instance, and a report by Mimecast highlights just how little awareness a lot of small businesses have when it comes to email attacks. A huge 64% of small businesses believe they will suffer negative commercial impact from cybercriminals in 2017, with emails containing malware attachments on the rise.
It’s not just small businesses who are worried about the threat of a cyber-attack either. A report of 24,000 consumers across 12 countries discovered just how important data security is to consumers. Not surprisingly, 89% say it’s important to know how secure their personal information is, and a similar survey by Verint found that 94% of businesses feel it is important to inform customers that their data is secure.
Choose a business payment solution that helps you grow
With both business owners and consumers seemingly on the same page when it comes to online safety, the right payment solution can go a long way to allaying fears where digital security is concerned.
Again though, the digital landscape is a constantly evolving one. Small business owners must always be vigilant to advancing technologies and ingenious new tactics to try and steal confidential data.
Broadly speaking, the UK has little to be proud of when it comes to cyber security expertise, according to a global study commissioned by Indeed. In fact, the nation was noted as the second-worst in the world when it comes to a cyber skills security gap.
Small businesses who partner with an experienced and knowledgeable payment solution provider can benefit from years of experience in the financial security sector and an in-depth understanding of all its technical hurdles. As a result, small business owners can take the time to concentrate on taking their core business activities to the next level.
Fibonatix is a leading payment solution provider, offering flexible services for businesses of all sizes. We work closely with commercial enterprises and provide a consultative service to help them build strong digital foundations for their company. Contact us to learn more.
Partnering with an experienced and supportive payment service provider can be one of the best ways to keep your business and its customers safe. Read our blog ‘Can an online payment service provider keep your customers safe?’ to learn more about payment security.
