Keep customers - keep their payment data safe
It's common for small business owners to have a larger dependence on customer loyalty. It’s going to be a lot easier for you to meet your revenue goals if you can take advantage of repeat business. One of the best ways to achieve this is by keeping credit card payment data safe and showing your customers that their card data security is your priority.
It’s easy for people to hear how about consumers and businesses that have been the victim of a data breach. But with more security and fraud prevention available to businesses today, criminals are targeting more prone small business data more and more. This is because smaller businesses are less likely to have the most current key preventative measures for safer payments in place.
You don’t want to be one of these stories, you'll want to do what you can to keep payment data safe. If you can achieve this goal, customers are going to feel more confident shopping with you – and they will continue to bring you their business over and over again.
Keeping Payment Data Safe
How are you going to keep your customers' payment data safe? The first thing you can do is to know exactly what your merchant credit card processing services provide. These services should include available protection solutions for both fraud and card payment data security. These are often provided directly and integrated with the software running the devices or terminals you use to process the card payment.
For in-store sales, this should include data encryption to ensure more protection of credit card data as it's being transmitted for approval. Many merchant services packages include fraud and security features, as well as other features to support your PCI compliance levels. Some also include data breach assistance features in the unfortunate event that you fall prey to payment data theft.
According to the data infographic released by Vantiv, approximately 69% of consumers won’t do business with a company that has experienced a data breach. This is bad news for you should you ever experience one. Even if it affected a single person, word can spread quickly on the internet or by word of mouth – and that means that you could have your reputation damaged significantly in a very short period of time.
When you can keep customer data safe, it’s going to improve your reputation. You can provide the necessary confidence to your customers so they feel good about shopping with you. In a world where hackers are getting into businesses small and large, consumers look to do business with the entities that know about payment data security and do something about it.
It’s not hard to keep payment data safe if you have a good merchant account. Better services help you prioritize payment data safety so that you can be confident that the right security measures are being taken. As a result of keeping all of the customer data safe, you are giving your customers a reason to continue shopping with you again and again. If you can keep them from encountering any kind of fraudulent activity, they will provide a significant amount of loyalty.
When you want to keep customers coming back, their payment data needs to be kept safe – look for a payment provider with the tools to make this possible.