It’s the holiday season, and everyone wants a sale. From cars to clothing to cosmetics, deals are everywhere, and consumers can’t get enough. While this is the shopping season is in full swing, merchants are looking for new ways to attract customers. From coupons to apps and text message deals, the options are endless. However, this busy shopping season brings an increased threat of security issues, which brings an increased threat of merchant account issues.
If you are looking to attract new customers, or gain sales from existing customers (and who isn’t?) look at your options. Check out apps, text messaging resources, and coupons. This will not hurt your business. You do need to be careful with all plastic payment card payments, though. If you are an online merchant, ask for a contact email address and telephone number. Make this a required field on the payment form, just as an address would be. This is added protection from fraudsters, as they are less likely to use a checkout form in which they must provide accurate information.
Also, be sure that your employees are careful when it comes to accessing terminal and computer information. This is how Target’s mass hacking happened in 2013, and no one wants to repeat that. While technology for terminals and computers have advanced, hackers seem to be on an equal playing field – if not a step ahead. While a mass hacking can destroy a company, one single chargeback can devastate a company, leaving it with merchant account issues. Merchants should know that there are options available if this happens.
A high risk merchant account is a godsend for companies who have chargeback issues, hackings, or even high processing fees. However, you need to make sure that your high risk merchant account provider is working for you, and not against you. A provider like EMB will work with you to make sure your account is safe, along with providing industry-standard rates. This is not typical for processors, who tend to raise processing rates when a chargeback occurs. Your merchant account can make or break your business, so be sure that you are equipped with the best option.