Can an online payment service provider keep your customers safe?

June 22, 2017

Partnering with an experienced and personable payment service provider can be one of the best ways to keep your small business and its customers safe from the dangerous world of online fraud.

A lot of small business owners can have misconceptions about the world of the internet and pairing new technology with their payment systems. It’s understandable; for many, the internet is a totally foreign concept. They’d rather stay focused on their business and the customers that have helped them get where they are.

Only, small business owners are missing out on huge new markets and reaching out to their customers in creative ways if they don’t embrace the opportunities the internet provides.

The internet, too, is more secure than it’s ever been when it comes to accepting and processing payments; something an experienced online payment service provider can help you to understand and embrace when you’re looking to take your business to the next level.

Revolutionise your finances with an online payment services provider

Online payment services such as PayPal, Apple Pay, Google Wallet and others don’t revolutionise the global financial landscape because they’re insecure.

International money transfer service WorldRemit for instance has recently added Android Pay as a secure option for migrant remittance, underlining the impressive security options at the platform’s core.

At the same time, Samsung Pay’s launch in the UK is also underlining two key movements in the world of financial technology. For one, it shows the growth of mobile payments as a serious option for the average consumer to consider on the high street.

Two: it highlights the additional security mobile payments can provide to users. As well as Samsung Pay’s online encryption services, additional mobile-ready security functions are also present to users including iris-scanning features or security patterns. Samsung itself is lauding the iris scanner in particular, saying it’s incredibly secure and less easy to forge than a fingerprint.

So, what does this mean for small business owners looking to grow? As a leading payment service provider, we think it’s imperative that small businesses don’t let the financial technology revolution pass them by if they’re looking to take the next step.

Expand into new markets with a payment service provider

It’s understandable that small business owners may be working to a tight budget and are short on time when managing their own enterprise, which is why it’s worth partnering with an experienced payment service provider to help them keep in tune with the ways their market is choosing to pay for goods.

Supporting the benefits of online payments and mobile security is Apple Pay, with the majority of tills in the UK now accepting payments of over £30 while more than half of contactless terminals in the UK can take Apple Pay transactions of any value.

The additional security that services like Apple Pay offer are key to its growth and another reason for their popularity. Adopting similar systems for your business can not only open new revenue streams for your business, but also build stronger relationships with customers who are using easier ways to pay and are fast turning to secure online and mobile financial solutions.

The right payment service provider can also help you to navigate the complexities of financial compliance, partnering with you to help your business grow. Contact Fibonatix to find out more.