Why Do You Need to Be PCI Compliant?
The PCI-DSS standard was made to ensure that every business that accepts payments from methods that require the personal data of their customers is safe. So, if your company accepts payments from clients through credit cards and similar methods, then it needs to be PCI compliant. The most effective and efficient method is to use the services of a credit card processing company that will help you become compliant with this standard.
There are three reasons for which you need to ensure that your company is compliant with this standard.
• Law. This standard is supported by the law, and your company must become compliant with it. Otherwise, it will face legal penalties. So, if you want to have a completely legal company, then you need to ensure that it gets the status of compliance with the PCI-DSS standard. Keep in mind that this is not something optional. It is mandatory.
• Clients. The purpose of this standard is to ensure that all the data collected by your company is safe. So, your cyber security must be able to prevent any virus or hacker from stealing it. But if you have the required knowledge and tools, then this will become an easy task to accomplish. All you have to do is to let the processing company help you pass the compliance tests.
• Company. Increasing the security of your company will not only keep the data of your clients safe. But the data of your company as well. A possible attack made by a hacker will not only attempt to steal your clients’ data but your company’s as well. So, you will not only keep your clients safe but your company finances as well. And this can be easily accomplished by passing the two tests required to become compliant with the PCI-DSS standard.
The two tests that your company needs to pass are not very hard. The first one is an annual questionnaire that the person responsible for the security of your system needs to pass. And the second test is a security scan made by a regulated company. The scan will test the capabilities of your system security measures. A reliable processing company will easily help you pass the questionnaire. While the software that you will get will have a high degree of safety guaranteed.
How Can You Benefit from Becoming PCI Compliant?
Besides the safety that your company gets from becoming PCI compliant , it can also get several other benefits. But to ensure that, then you need to use this identity smartly. Doing that will ensure that the growth speed of your company will increase. And all you have to do is to do market your security level as well. So, what benefits can you expect from doing that?
• Branding. The level of trust that your company has in the industry will increase. That means that both your potential and the current customer will increase their trust in your company. Even other companies that have collaborations with yours will be able to trust you more. Nowadays, branding is essential for any successful business, and this is one of the ideal methods that you can use to grow your company’s brand.
• Leads. There are still many people out there that are afraid to use their credit cards to make payments. Even if they trust your company, but they may believe that their personal information is not safe and are unwilling to use their cards for shopping. A good marketing strategy will convince them about the safety of your payment methods, and it will guarantee an increase in the leads of your company. This method will be extra effective for online businesses than for regular ones.
• Revenue. More leads, together with an increase in the trust level of your company, will ensure higher convertibility and a higher number of customers for your business. Obviously, this will increase the revenue and the profits of your company. So, you will be able to make more money. And you can also take this opportunity to increase the growth rate of your company. But you should make sure that it is prepared to take this step.
Features That Your Credit Card Processing Software Needs to Have!
There are many different credit card processing software types on the market. But not all of them will provide you with all the features that your company needs. To ensure that you make the best decision, then you need to make a list with all the processing needs of your company. Do not worry, while looking through different types of software, you will increase the requirements list. But it is essential to ensure that you only take into consideration the companies that can fulfill all of them.
Every business is different. You not only need to find a company that is specialized in your industry. But it must also be able to personalize their software based on your company's needs. Even if the software itself will not be able to satisfy all the companies in the industry. But it must be able to use integrations that will make it easy to customize based on your requirements. So, you will need to research your alternatives thoroughly before making your decision. But there is another factor that you should also consider.
The most important quality of a payment processing company is to be reliable. And through your research, you also need to ensure that you can trust the company before starting a collaboration with it. To do that, all you need to do is check the reviews left by the clients of the company on the internet. You can also contact some of the clients directly and get a direct review from them. But how will this help you? Well, if the current and past clients of the company are happy, then you will most likely be as well.
