SOCi Partners Archives

Lincoln Jalandoni In Bussness Sales Tips, Payment Processing Industry

The Two-Day Rule in Sales: Why 48-Hour Follow-Ups Close More Deals

In sales, timing is everything. You can deliver a flawless pitch, highlight every benefit, and get a merchant nodding along — but if you don’t follow up at the right time, the opportunity may slip away. That’s where the Two-Day Rule in Sales comes in. Understanding the two-day-rule-sales-follow-up strategy can make all the difference.

This simple but powerful follow-up strategy, often known as the two-day-rule-sales-follow-up method, can help you build trust, keep momentum alive, and ultimately close more deals.

What Is the Two-Day Rule in Sales?

The Two-Day Rule means you should always follow up with a prospect within 48 hours of your last interaction. It could be after a phone call, an in-person meeting, or even a demo. The idea is simple: don’t let too much time pass before reconnecting.

Sales is built on momentum. A merchant who was excited on Monday might be distracted by Thursday. By following the 48-hour sales follow-up rule, you position yourself as reliable, attentive, and proactive.

Why the Two-Day Rule Works

Merchants are busy. They juggle dozens of priorities every day, and while your solution may be valuable, it won’t always stay top-of-mind. A timely sales follow-up keeps the conversation warm and reinforces that you’re invested in helping them by using the two-day-rule-sales-follow-up.

It also prevents competitors from stepping in. A prospect who doesn’t hear back quickly may start exploring other options. By applying the Two-Day Rule in Sales, you stay one step ahead.

How to Put the Two-Day Rule Into Practice

Here are a few ways to make this sales follow-up strategy part of your routine:

Log notes right away. Capture details from your call or meeting while they’re still fresh.
Set a reminder. Use your CRM, calendar, or even your phone to schedule a follow-up within 48 hours of first contact, following the two-day-rule-sales practice.
Add value when you follow up. Don’t just say, “Checking in.” Share a case study, an article, or a benefit tied to their needs.
Always push to the next step. End your follow-up by suggesting something concrete: a demo, a proposal, or another call.

The Payoff of the Two-Day Rule

Reps who apply the Two-Day Rule in Sales consistently see stronger pipelines and higher close rates with the two-day-rule-sales-follow-up. It’s a simple discipline that sets you apart as a professional who follows through.

Merchants want partners who act with urgency and care — and a 48-hour sales follow-up strategy proves you do.

Key Takeaway

The next time you wrap up a prospect conversation, set the clock: you’ve got 48 hours to follow up. Stick to this rule, employing the two-day-rule-sales-follow-up approach, and you’ll see your close rate improve.

Jodi Goddard In Business Services, Compliance, Merchant, Partnerships, SOCi Partners

Reasons to use Integrated Payments

An integration software

Reasons to use integrated payments most people open their businesses because they are passionate about specific services or products. However, accepting payments is one of the most significant pieces to operating a business, and one of the most cost-effective ways is to take advantage of integrated payments.

Here are a few reasons to consider using integrated payments for your business.

Reduced Human Error

When data input becomes repetitive, the chance of human error increases; it takes one number difference when keying in a transaction. Using an integrated payment option eliminates the risk for you.

Safe and Secure Software

Having EMV, tokenization, and end-to-end encryption provides a higher standard of security. Tokenization takes the place of sensitive cardholder information that the issuing bank can only unencrypt during authorizations. To maintain customers’ trust, you must ensure that privacy and security are constantly updated. An integrated payment option provides customers with just that while creating loyalty to your business.

Real-Time Updates

Gone are the days of spending hours on accounting and extra trips to the bank. An integrated payment means your money will go to the correct account and update the balance within minutes unless you like waiting for checks to clear.

Cash Flow

An integrated software payments speed up cash flow meaning more money in your account is streamlined.
More ways to pay means more transactions and better cash flow. Adding online payments increases the opportunity to process transactions 24/7 whether the office is closed or customers need to make installment payments. In addition, having a more stable cash flow allows you to earn cash flow-dependent decisions such as maintenance.

Schedule with a Payment Professional by calling 866-921-2982 and find even more reasons to use integrated payments!

Check out our affiliate partner program for more information on implementing an integrated payment system combined with your software for increased revenue and growth potential.

Jodi Goddard In Payment Processing Industry, Retail

Haphephobia: Fear of Touch

Contactless payments for high touch

The recently published Visa Back to Business Survey brings great insight into customers’ feelings regarding their shopping preferences and how business owners can adopt them. But, unfortunately, no matter how many zombie or post-apocalyptic movies we watch, customers’ importance still doesn’t resemble a post-pandemic world like most of us have always envisioned. Instead, it makes me think of Mad Max memes and the hardcore expectations ~~dreams~~ when it’s living life as the Bubble Boy in all reality.

However, for the most part, people are on opposite ends of the comfortability spectrum. We agree that most people prefer fist bump vs. handshake and prefer less contact with high touch areas, like payment terminals. Contactless payments are the equivalent of motion censored doors. Everyone needs a way through, but no one wants to touch it. Contactless

A survey by Entrust Datacard shows that 75% of US cardholders favor contactless as their primary payment method. However, by not having an NFC option, there is a risk of losing out on a chunk of customers. When COVID hit, no one wanted to touch or accept cash, adding in the coin shortage. Other payment methods became necessary, and technology was forced to leap forward. Visa reports that 20% of merchants have adopted contactless payments since the pandemic began.

Out of the surveyed business, 33% reported they accept less cash or have stopped accepting money altogether!
To put things in perspective;

78% of customers reported changing how they pay to reduce contact with high-touch surfaces.
63% of customers said they would switch to a new business because they offer contactless payments.
48% of consumers report they wouldn’t shop at a store that required them to have contact with a cashier or payment terminal
46% of customers said contactless payments are the most critical safety measure they want stores to implement.

While some of those statistics can cause your blood pressure to rise, the numbers provide great insight. For example, within the United States, about 57% of consumers want to shop local and boost their local economy. Visa is reporting that 78% of consumers changed the way they pay. Including:

49% are shopping online when possible
48% are using contactless payments
46% are using cashless often

Because of the forced shift in technology advancements, 70% of those surveyed reported trying new payment methods for the first time. Meaning the tap and go, online, curbside pick up, and ordering online for in-store pick-up options. In comparison, 67% of businesses report trying new methods to keep customers safe and comfortable. One of the most significant changes was adding online payment options or Point Of Sale upgrades to offer contactless methods. Contactless

Retail locations

Brick and mortar retail stores benefit from offering a contactless checkout experience. It’s as simple as ensuring your terminal is set up for NFC or the tap and go. People may not be touching the equipment as often, but it still needs to be sanitized. If your customers know you are taking their safety seriously, you gain loyalty and trust. Having visible signs and website updates with your COVID policies and procedures, customers will have peace of mind that they are not at risk while visiting your establishment. Curbside picks up with either a mobile payment option or taking the order and payment via the phone is an excellent alternative for those who prefer not to go inside.

Ecommerce options contactless payments

Businesses had to pivot on a dime and find ways to care for their customers; the world didn’t completely halt during the lockdown. Consumers had to leap other shopping and the checkout experience. Some grew to love the convenience, while others loved the quicker process by cutting outlines and time spent in the store.

Phone Payments

If online payments don’t fit your vibe, you can opt for payments made over the phone. Virtual terminals are the way to go when you need to accept payments without the customer physically present to run a payment.

We’re tired of the ‘new normal’ and the uncertainty of the future, but we do know these payment options are here to stay. So, although the launch in advancements has been tremendous, we will keep moving forward and keep searching for alternatives that will keep consumers and business owners in sync for the needed shopping experience.

Schedule with us to look at options to help you help your customers. With our rate guarantee and stellar customer service, you will be on your way to more success and growth.

Jodi Goddard In Finance, Merchant, Payment Processing Industry, Technology & Equipment

Card Declines

A few things can cause checkout anxiety, but I say the top two are not being able to put your change away fast enough before the next customer and being greeted with a significant fat decline across the receipt. Most of us have had it happen for tons of various reasons at one point or another. credit card declines

No one likes a decline message, so customers must be shown some discretion while finding an alternative. Business owners need to be prepared to handle such situations; luckily, most declines are resolved efficiently. Losing a sale may be a disappointment but having that customer ditch your business for another based on poor handling of a crappy situation is a worse fate.

Visa and Mastercard report an average of 15% of recurring payments are declined, but the rate can be double that for some industries. In addition, there is a wide array of reasons why a card may be denied. When a card is declined, it is by the issuing bank, processor, or the payment gateway.

Types of Card Declines

Hard decline

This happens when the bank doesn’t approve the transaction. Reasons could be related to a maxed-out credit card, data entry error, or fraud. This situation calls for a new payment method; trying to rerun it will yield nothing.

Hard declines typically need the payment card information to be updated regardless of the number of retries attempted.

Soft decline

A soft decline happened when the bank authorized the payment, but the transaction failed elsewhere. Think of it as a relay race rat race if the last person doesn’t complete their leg, the team is disqualified and doesn’t cross the finish line. The steps that occur at each transaction can fail with no fault of the consumer or the issuing bank. Soft declines are usually resolved by trying the traction again. Just remember trying more than three times is not a good practice.

Types of soft declines

Insufficient Funds

This happens when the customer does not have sufficient funds in their account to cover the transaction. This is the most common and most embarrassing for the customer to experience.

Unusual Purchase
Sometimes when a purchase is made out of your home state or doesn’t align with past buying behavior, the banking institution will flag and block the transaction to negate fraud. Then, a quick phone call or visit to the app (if they have one) can verify the purchase or travel notice allowing the customer to continue as usual.

AVS or Billing Address Issue
For card-not-present transactions, online payment gateways require extra validation to prove that the transaction is a legitimate credit or debit card used. Banks will typically block transactions outside of that card’s billing address.

Types of hard declines

Stolen or fraudulent card
The bank will mark a card as stolen or fraudulent, so it will be blocked when a purchase is attempted, whether for in-person sales or online transactions.

Invalid card
Usually, the result of a typo, invalid card declines, concerns about incorrect card numbers, CVV verification numbers, or other card details.

Reasons behind a credit card decline

The user met the credit limit.

If there isn’t enough available credit, the card will be declined.

Large purchases
An account can get flagged for a large purchase. If it seems outside of the customer’s normal spending behavior, it can trigger fraud and freeze the account, which declines the transaction.

Expired Card

An expired card will always end in a failed transaction. This is because the card network cannot process a card that has expired.

Missed payments
If you have a less than stellar credit history and are a few days past due on your bill, any attempted transaction would be declined. Not only does the missed payment hurt your credit score, but it also can prevent you from using the card.

Check the customer’s information.
Sometimes if the numbers were keyed in, they could have been transposed or off just a little. Confirm with the customer that the billing and zip code and the CVV code are correct.

Confirm the card is valid
Check the information on the card to make sure it lines up correctly. We use the same card for years, so it can expire without us even realizing it. If the information is correct, the customer must contact their bank and use an alternative payment method.

Should you try the transaction again?
A declined card will not go through no matter how many times you swipe it. The best solution is to have the customer call the card issuer to find the potential issue. Once that has been resolved, you can rerun the card.

Widen your payment options
Offering multiple payment options such as digital wallets can help expand your customer base.

In a survey conducted by CompareCards.com, one in five American consumers has declined a credit card at least once in the past 12 months. That is more than 40 million people!

Treating customers with discretion and being gentle with the situation regardless of the decline will help customers feel at ease. Approximately 15% of shoppers will go to a different retailer after experiencing a decline, causing merchants to lose out on a sale. By being as respectful and helpful to find a resolution as quickly as possible will help your customers feel that they are in a safe and judgment-free environment.

Jodi Goddard In Payment Processing Industry

Credit Card History

Credit Card History

When I started with Platinum Payments, I never even knew the credit card processing world existed, let alone how it keeps running smoothly. Since I never knew, there are probably, hopefully, others that have no idea either. I like to nerd out sometimes, and this happens to be one of those topics. The history of credit cards might sound rather lame, ok, really lame, but I promise, there are some cool things here!

Can you imagine what life would be like 500 + years ago? What would those whose crops weren’t quite ready for a trade yet, but they desperately need milk from their neighbor who has the cows?

In the early 20th century, department stores, airlines, and gas stations offered what was referred to as a “shopper plate or charge coin,” but the first official credit card appeared in 1950 with a “charge” sign at participating merchants.

The 1940s

In 1946, John Biggins of Biggins Bank held the spot for the first actual credit card. Consumers could use the Charge-It card within the group of businesses that were associated with Biggins Bank. The merchant would send the invoice to the bank and would receive payment on behalf of the customer.

The Diners Club Card emerged in 1949, and rumor has it that it was created by Frank McNamara and a partner when they found themselves embarrassed for not having enough money to cover their restaurant tab. The Diners Club is the first credit card processing industry acquirer because it was the first to charge merchants a discount rate.

The 1950s + 1960s

American Express joined the credit card industry in 1958 with a plastic card geared towards travel and entertainment, or ‘T&E.’ The objective was for business people who are on the road could pay for their travel and entertainment without the need for a bunch of cash on hand.

However, the first plastic credit cards introduced left room for human error since the merchant would take an imprint and send it to the billing department, which added on an even longer time frame. Finally, in the 1960s, IBM entered the scene by adding the coding information with the magnetic stripe.

In 1960, Bank of America launched its version of a bank card association that licensed other banks to issue their BankAmericards while processing BankAmericard transactions. This was also when the idea of revolving credit became more prevalent. Consumers liked the idea of the ability to roll over part of the due amount in exchange for a small fee.

By 1966 the Interbank Card Association was created by MasterCharge, who eventually became MasterCard. The foremost benefit was that associated banks could exchange information on credit card transactions across their network. The association had member committees to establish the rules and regulations, such as authorization, security, marketing, settlements, and other legal aspects. Third-party companies emerged to sell processing services, which reduced banks’ role in dealing with settling accounts and paying the merchants. Eventually, Visa and MasterCard took over to develop arbitration and the standard procedures to facilitate international payments and reduce fraud.

The 1970s + 1980s

In 1970 Bank of America watched MasterCard dominate the industry, forming their association, National BankAmericard Inc of NBI. Worthern Bank and Trust Co sued the NBI, and they argued that NBIs restrictions with competing cards put them at a ‘competitive disadvantage.’ Even though Worthern lost the case, the NBI changed its rules anyway at the suggestion of the U.S. Department of Justices’. As a result, banks were allowed to offer both credit cards from that point forward, permanently changing the processing world.

In 1976, National BankAmericard restructured as Visa USA, MasterCharge followed suit and became MasterCard in 1977. Discover was the late bloomer of the crowd and didn’t show up until 1986. Fun fact, Discover was created by Sears and was introduced during a commercial for the Super Bowl. After that, discover bounced between a few companies before gaining independence as Discover Financial Services in 2007.

The 80s brought forward more electronic payments, with VeriFone releasing its first POS in 1981 and terminal in 1983. Automated Teller Machines or AMTs started popping up, giving people access to their cash and accounts 24/7. When dial-up terminals debuted, the whole process got much quicker. Authorizations and settlements were now done remotely, whereas before, it was done via phone. Crazy to think how things started with trading chickens to the ability of payment options from a smartwatch or NFC.

If you’re ready to upgrade your system, schedule with a payment professional and take advantage of the year-end sales and extra discounts!

Plus, did you know we offer ATMs as well?!

Jodi Goddard In Payment Processing Industry

What does a “rate increase” actually entail?

Rates

You’ve seen the blogs on processing rates, including what adds to your overall rate and how interchange fees work. We talk about how we don’t raise rates; it’s part of our core. In a typical year, Visa and MasterCard rates will increase in April and October. It’s on their own accord; as long as they notify you in the teeny tiny terms and conditions, processors have no say in any of the changes.

But here’s the thing, if you didn’t read the notice and kept accepting transactions, it would be considered you agree to the terms. Who knows if they upped your cancellation fee or kept the rates creeping up over time, and now you’re stuck with a 7% effective rate and a 5-year contract holding you responsible for the lost processing margin as the penalty for canceling.

Rationalizing rate increase

You will need to watch your statements each month and compare the published interchange rates with the rates listed on Visa and MasterCard’s websites. Many business owners are under the impression that they were showing the current company that new bid to match it. Unfortunately, they are also usually successful. Here you think you are saving yourself some hassle, but you are adding another task to your monthly business duties – babysitting your rate. You also should make sure you have snacks close by for those long wait times in hopes of customer service.

Resolve

When you get down to it, if doing a cross-comparison with your statements and line item by line item on the Visa Mastercard website sounds like fun, then by all means, do what you love. Just remember it bought a few more weeks of the lower rater until it starts to creep up again. But, if that sounds like another level of hell, and you don’t jive with waiting, A real long-term solution is taking advantage of what our core and rate guarantee can do for your business. Payment professionals are ready to work with you and keep your costs at bay. We’re here for the long haul; we aren’t the fly-by-the-night type.

Jodi Goddard In Compliance, Payment Processing Industry

Safe-T + Cybercrime

What do you know about Safe-T and cybercrime? Brush up on the facts with this quick read.

In 2020, data showed a record of $4.2 billion that was lost to cybercrime. The year before? It was $3.5 billion. It’s hard even to fathom that significant increase in just one year, mainly because that same report shows cybercrime incidents reported to the FBI have gone up by almost 800% since 2011, from $485.3 million to $4.2 billion.

Utah, unfortunately, is at the top of the list, 5th place to be exact, for victims of some type of cybercrime. The victims each lost an average of $9,562. In all honesty, this number is probably a lot bigger since many people are too embarrassed to admit someone who committed fraud took advantage of them.

A word of advice: don’t click on links in texts! It’s not just email that is being used for fraud. Changing passwords frequently is a good first line of defense, also, it’s ~~probably~~ best to ignore the IRS or FBI calling you with a robotic voice announcing your arrest; we all know that is probably some guy eating TV dinner leftovers and wasting his intelligence. So, don’t get outsmarted by that guy.

Now we know the cost of a scam can run if you’re the average victim in Utah, but what if it’s a breach within the business?

Now we’re talking with much higher stakes. Not only are you going to be paying high fines or retribution, but you’re also going to be paying in the reputation department.

A Solution: Safe-T

Safe-T Security Solutions provides end-to-end encryption, tokenization, and PCI breach protection. Using Safe-T as part of your payment solutions protects sensitive card data from the Point of Interaction (POI) throughout the lifecycle of transactions. Additionally, it covers customers if fraud occurs.

Let’s ensure that you have the correct level of Safe-T that corresponds with your business size to provide the utmost protection. Think of it like car insurance; it’s there for a terrible day when something comes out of the blue and knocks you sideways. You didn’t plan on totaling the car that day, risking your life, just like you wouldn’t plan a security breach and jeopardize your livelihood. You’re fine until you’re not.

You insure your health, your car, your phone, why wouldn’t you ensure that you’re doing the best for you and your customers.

Safe-T is just one example of the many solutions we offer to assist with cybersecurity, PCI, and maintaining a safe and secure payment processing system. Are you interested in other solutions? Check out THIS page or this blog post.

Jodi Goddard In Compliance, Payment Processing Industry

Stripping the Stripe

Magnetic Stripe

Electronic payments started In the early 1960s when IBM, one of the main innovators of the magnetic stripe, then allowed banks to encrypt the card information onto the magnetic tape. The magnetic stripe developed to payment terminals and EMV (chip) cards, having real-time authorization and higher security. The magnetic stripe has been a part of the electronic payment system on every card for decades.

Way back when credit cards were up and coming, it was a pain point for business owners. First, they were required to handwrite sensitive customer information. Which then turned into using a knuckle buster, a flatbed imprint that records the card data onto carbon paper. If a customer were trying to use a stolen credit card, the business owner would have no idea. Next, the credit card companies used to circulate a list of bad account numbers. Then the business owner needed to cross-compare their customers’ credit card numbers against the list provided.

Now the chip cards have microprocessors with the latest security, including near field communication, or NFC. NFC uses radio frequency identification technology (RFID) to create a wireless link. Once activated, data can transfer to the other device when a few centimeters apart. In addition, an even better method, biometric technology, is being added to the mix for another layer of security.

Homage to the History

France was the first to use a chip card in the 1960s. However, it was not well received at first and took years to catch on. The main issue was different cards wouldn’t work with every terminal, and this is what lead to the evolution to a global EMV chip technology standard. In Europe, it took until the 1990s until there was an EMV standard, which became the more preferred way to pay. The United States was very behind and didn’t adopt EMV until 2014-2015. The results speak for themselves. For instance, counterfeit fraud decreased by 87% from September 2015 until March 2019. Not only was the fraud a huge decrease, but the EMV card volume went up. In March 2019, it equaled 99%, which is inconceivable to think it was only 1.6% in September of 2015. Today EMV accounts for 86% of face-to-face transactions globally.

It’s no coincidence that more than half of Americans would strictly use a chip card over any other payment method because of the higher security. In addition, roughly 81% of Americans are cool with ditching the magnetic stripe, and 92% reported they would increase the usage of a sans stripe card.

Expedited Change

Usually, how we pay used to take years to become a universal thing (here’s looking at you, the US, with your decade-late swap to EMV) anyway, typical hasn’t been much of a thing since the pandemic started. There was a huge push for contactless payments. In Q1, MasterCard reposted 1 billion MORE contactless transactions compared to Q1 in 2020. Globally Q2 showed 45% of in-person transactions were contactless. The younger generations are increasingly willing to explore new payment options. Meanwhile, 66% of the surveyors said they would not try new payment methods in the older generation if the pandemic didn’t happen.

Full Circle

And now we’ve come full circle where the swipe is phasing out, just like the knuckle busters did, in favor of better technology. By 2024 MasterCard will not require the magnetic stripe, and while by 2033, they shouldn’t have any stripe cards in circulation. It’s anticipated that by 2027, the magnetic stripe will be put to rest in 2027 once it becomes the norm in the U.S.

It will be interesting to see what changes happen in the next few years. We know payments will always be a part of that, so join Platinum Payments and be kept up to date with any rules or regulations. Our payment professionals are trained weekly to make sure they can offer the best to their customers.

See what you can qualify for, no strings attached. 866-921-2982

Jodi Goddard In Compliance, Finance, Payment Processing Industry

Executive Order to Improve Cybersecurity in the US

White House executive order to improve nation’s cybersecurity

Who remembers back in May when President Biden signed an executive order to improve the nation’s cybersecurity? It was all about protecting federal government networks, and most people were happy with it.

This executive order is a huge and much-needed step in the right direction to strengthen US cybersecurity by removing barriers to collaboration around cyber threats, which is important for an effective cyber response.

The Executive Order makes an impressive contribution toward modernizing cybersecurity defenses by protecting federal networks, improving information-sharing between the U.S. government and the private sector on cyber issues, and strengthening the United States’ ability to respond to incidents when they occur.

This order is also aggressively aiming to improve cybersecurity that is being sold to the government. Because the government can use its power to demand improvements in software security standards, they now have the goal of software vendors having established software development life cycles within the next year.

As someone in the payment processing industry, we have the opportunity to help organizations of all sizes grow with the changing technology and requirements to have greater operational efficiency. As always, we are watching to see the ripple effects in the future for electronic payments. Platinum Payments likes to stay ahead of the game and be aware of any upcoming changes to assist our clients better.

It might be time for a security check or at least changing the passwords. Get with your payment professional today to ensure that your PCI compliance is up to date keeping you and your business protected. You’re fine; until you’re not, let’s not wait until it’s too late.

Jodi Goddard In Business Services, Compliance, Finance, Merchant, Payment Processing Industry, Technology & Equipment

6 points of a secure payment gateway

Payment gateways and security will always go hand-in-hand. It is not only a requirement to be compliant, but more importantly, you are protecting yourself and your customers. So here is a quick refresher on getting back to basics.

End to End Encryption
End-to-end encryption is taking original data and turning it into ciphertext. The merchant and the processor are the only ones privy to that sensitive information preventing hackers and other fraudulent problems.

3D Secure
Think of your security, but with steroids. 3D has the consumer create a password for their credit card. From that moment on, each transaction will need to be verified with the customer. This is next-level security that everyone should be using.

Tokenization
Tokenization is swapping the digits on a card with random characters, making it a single-use transaction code. Tokens are useless to anyone who tries to decode them without the encryption key. When there isn’t anything stored, there isn’t anything to steal.

PCI DSS Compliance
In 2006, the card brands established the Payment Card Industry Data Security Standard (PCI DSS) or PCI. The rules and regulations act as guidance to assist merchants in providing secure payment solutions.

To maintain cyber defenses:

1. Only purchase and use validated payment tools at your POS or shopping cart website
2. Do not store cardholder information
3. Have a firewall on your PC as well as Network
4. Encrypt cardholder data transmission
5. Instruct your staff about security & cardholder data protection
6. Never use an open or unsecured network

Secure Socket Layer (SSL)

The SSL certificate validates a website’s authenticity and permits an encrypted connection on websites hosting payment gateways. eCommerce websites need to provide an SSL to validate their online identity and keep all sensitive information private and secured. If you were to forego the SSL certificate, you are also foregoing a good reputation and happy customers. No one will be willing to enter their private information into a site that isn’t trustworthy and has a bad reputation.

Secure Electronic Transaction Protocol (SET protocol)

Visa and MasterCard created SET, a security protocol to secure credit card payments online. The majority of eCommerce transactions are going through SET, and it’s a must for small business owners to include it in their online payment gateways.
SET uses a digital signature to collect the card information and blocks it out, preventing anyone else, including the merchant, from gaining access to such sensitive data.

We have resident specialists who focus strictly on eCommerce and can answer all of your technical questions. Shoot us a quick message today and let’s get started!

SOCi Partners

What Is the Two-Day Rule in Sales?

Why the Two-Day Rule Works

How to Put the Two-Day Rule Into Practice

The Payoff of the Two-Day Rule

Key Takeaway

An integration software

Reduced Human Error

Safe and Secure Software

Real-Time Updates

Cash Flow

Retail locations

Ecommerce options contactless payments

Phone Payments

Hard decline

Soft decline

Insufficient Funds

Credit Card History

The 1940s

The 1950s + 1960s

The 1970s + 1980s

Rates

Rationalizing rate increase

Resolve

What do you know about Safe-T and cybercrime? Brush up on the facts with this quick read.

A Solution: Safe-T

Magnetic Stripe

Homage to the History

Expedited Change

Full Circle

White House executive order to improve nation’s cybersecurity

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