Today’s technology has made it easy to move money from one source to another without direct, hands-on cash transfers. Money or credit card makers, financial institutions, and security agencies continue to work diligently to develop software and devices that keep personal information safe and secure from predators.
However, with the advances in computerized payment processing options, there is a greater need to have built in security features to ensure that your financial accounts, as well as those of your customers, remain safe.
Business owners who sell face-to-face or online have many options to receive safe and secure payments from their clientele. To grow your business, it’s important to generate money. Whether you are selling products or services to consumers, business owners want to be reimbursed for their transactions.
1. Online Payment Systems
Online payment processing systems allow consumers to transfer money from one account to another over the internet. Because everything is done through a website, funds can be transferred safely and quickly without third party intervention. Legitimate money sites have many safety protocols and programs built in to keep their customers data and accounts safe.
Today, there are several sites available to consumers. Both parties must have an active account to remit payment. Some service providers charge fees while others do not. The fees can vary with each company.
eTransfer or Interac transfer monies from one source directly to another company or person’s financial institution. eTransfers can be set up through a businesses’ private account and managed online through their private and secure banking account. Many institutions require the parties to have an online account with that financial facility first.
To protect their customers, many banks and other financial services continually develop and update their security features so outsiders cannot gain access to other people’s confidential information.
3. Built-In Payment Options
While brick-and-mortar stores are still very popular, many businesses are now adding online purchasing options for their customers. Some companies have both physical and online retail centers while other entrepreneurs sell exclusively online. In recent years, many websites have been developed for professionals and individuals to sell their goods to their online shopping community.
To help make transactions easier and safer, many web based stores have built-in payment option processes so consumers can easily and quickly purchase a product with the click of a button. The programs are designed with many security features that are continually modified to ensure both business and consumer information is kept confidential and secure.
4. Debit/Credit Transactions
Debit and credit cards are still one of the most popular methods for making payments face-to-face or online. Internet based businesses can set up payment option programs on their sites so consumers can use their personal credit or debit cards. Individuals who do not want to use their personal credit cards can buy prepaid cards to use instead.
5. Gift Cards
Gift cards are popular with both businesses and customers. They make it easier to purchase products and, because the money has already been spent on the card, businesses get the money before any purchases are made.
Today’s technology has made it easier to transfer money from one location to another. Whether shopping in a physical store or online, consumers have many payment options available to complete their transaction.