Regulatory Organizations Working to Keep Pace with Digital Payment Advancements
Rapid progress in payment processing technology has helped businesses offer far greater convenience and flexibility to customers in recent years. However, this has also presented a challenge for those regulatory organizations who work to standardize data protection protocols and ensure that businesses are following effective security processes. New payment methods, cross-border transactions, and an increasingly diverse group of intermediaries are all adding complexity to the regulations that govern the payment processing industry.
The requirements for ecommerce payment processing as set forth by the Payment Card Industry (PCI) Security Standards Council are always evolving as new technologies come into play. What was sufficient last year may not be enough to maintain compliance today. Security measures such as firewalls, anti-virus software, encryption of data transmissions, user access level restrictions, password sharing prevention, and employee training are all essential elements of PCI compliance, but interpreting exactly what your business needs to do in each area can be difficult. In this regard, having a knowledgeable merchant services provider with in-depth expertise in PCI compliance can be a major advantage.
This all means that businesses must pay very close attention to changes in regulatory guidelines as they apply to their operations, and take action promptly in the event that any updates to processes or systems are determined to be necessary. The risks associated with data breaches, transaction fraud, or non-compliances are far too great to be ignored, and the costs to the business can be profound. Lost revenue, damaged reputation, and broken consumer confidence are not something any business wants to experience, so staying up-to-date on the latest payment processing regulations is of utmost importance.
Capitalizing on Ecommerce Trends Requires the Right Payment Processing Partner
With so many factors to consider, it can be daunting to figure out what the best approach to ecommerce is for your business now and into the future. Fortunately, these decisions can be made easier if you’ve got the right support and assistance from your merchant services and payment processing partner. Success with ecommerce depends just as much on the support and services you are provided with as it does with the technology used to handle your online payments.
At MONEXgroup, our clients have the advantage of choosing from a full suite of ecommerce payment solutions, including online payment portal integrations for existing websites, virtual terminals for accepting payments through any smartphone or connected tablet, and more. Whether you operate a vast webstore with hundreds of products, or are a service provider processing payments on-the-go, you can be confident that MONEXgroup has the online payment processing solution that will help your business succeed.
Moreover, clients of MONEXgroup are also backed by a world-class customer service team that is 100% committed to delivering the best customer experience in the industry. Starting with the very first phone call, your dedicated account manager will work closely with you to guarantee that your ecommerce payment solution is configured and deployed for maximum impact. Every step of the way, our expert crew of technical service representatives are there to support you with 24/7/365 access to help and resources whenever you need them.
Prepare Your Business for the Future with A Robust and Secure Ecommerce Payment Solution
It’s clear to see that online payment processing is of absolute importance for businesses, and they must be prepared for the demands of the future. The percentage of ecommerce sales is only going to continue to grow, customer preferences will shift even further towards the convenience of online ordering, and new payment methods are surely going to be introduced thanks to ongoing technological innovations. The main question you must answer is; how will you equip your business to succeed in the face of this evolution?
Contact MONEXgroup today and let us help your business move forward with a powerful and capable ecommerce payment processing system. Take advantage of these ecommerce trends with online payment solutions from MONEXgroup and get a quote today!