When it comes to payment solutions, there are many ways in which your customers can pay. However, some options are much riskier than others. When it comes to accepting payments, your company needs to offer a solution that is simple yet doesn’t put a customer’s data at risk.
Different Types Of Payments
So what payments are riskier than others? Which payments are more susceptible to breaches? Here are three of the most popular payment methods.
Checks
Some businesses still insist that customers make payments using paper checks. However, checks were never exactly the most reliable method of payment out there. It takes time for your employees to sort through the paper trail and process them. Not to mention, your customer’s bank may withdraw their payment out of sequential order. In this instance, they may not have enough funds to make a payment. There is a reason this method of payment is going the way of the rotary phone.
Online Payments
More and more companies prefer accepting online payments on their website. This process is optimal, as it allows for payments to be processed in real time. However, online payments come with their own inherent risks. If the website that accepts payments is not secure, it could put your customer’s information at risk. Even if your payment website is secure, the customer could still be at risk if they have spyware on their computer. Protecting sensitive data is a constant challenge because of persistent and rapidly escalating threats.
IVR Payments
With a phone payment solution, your customer’s payments are simple and secure. A customer makes a payment with a phone call, receives their account information, and enters the information needed for payment. Your business could even follow information made about payments in real time.
Is it secure? IVR Technology Group is dedicated to protecting your customer’s data. That’s why our phone payment solution, Compass Pay, was built with data security in mind. In fact, we recently achieved PCI Level 1 Compliance. This is the highest level of security compliance that a service provider can receive.
Which Payment Method Will You Offer?
There are many payment options out there, for your customers. However, if you want to want them to have peace of mind it’s best to go with a phone payment solution that guarantees their payment information is secure. Our solution, Compass Pay, will make sure your customer’s payment is confidential and secure.
