For small businesses, finding safe and secure payment processing can be a huge challenge. This task is often much easier for their bigger competitors that have significantly more infrastructure and resources at their disposal. On the other hand, at the same time, the online environment and technology that has developed as a result has helped small businesses by levelling the playing field. Through technological improvements, small businesses can now reach the same target audience as their larger competitors and seize significant growth opportunities.
The following are just a few of the challenges small businesses face, along with how payment processing providers are helping these businesses address them:
· Ever-increasing chargeback rates. When it comes to chargebacks, no business type or industry is free of vulnerability to these fraudulent schemes. Small businesses are even more vulnerable, due to the lack of knowledge and awareness. Many providers now offer chargeback protection plans that help merchants stay on top of chargebacks and provide assistance.
· New types of fraud. Smaller businesses are often unaware of the magnitude and growing types of fraud. From friendly fraud and botnets to affiliate fraud and phishing, fraud attacks continue to grow. The right payment processor can help a small business get up to speed on what is going on and what works best to stop it.
· Changing customer expectations. Technology has transformed – and continues to change – customer expectations about what businesses should deliver to them; this includes the type of payment options, speed and overall user experience. Small businesses that are unsure of what options are worth the investment benefit from working closely with a payment processing provider that specializes in their industry.
Where Small Businesses Turn for Flexible Payment Solutions
Payment processors like Secure Trading make it their mission to provide the very best merchant services to small and medium businesses. In a new partnership with Verdi Media, Secure Trading is taking its services to another level. A Republic of Ireland-based full-service digital agency, Verdi Media offers a range of creative and technical services.
Through this partnership, merchants will benefit from AI-based risk management, an immediate decision on merchant accounts, instant boarding and a specialised account management structure for different verticals.
“Strategic partnerships such as these are one of the best ways that our flexible solutions can be introduced to merchants that need the reliability of a well-established payment services provider,” says Craig Brightly, head of sales at Secure Trading.
If your business needs more information on merchant services and what options your small business has, consider the many reviews and helpful updates on internet merchant account UK Best Payment Providers has to offer. Find all the information you need to choose the provider that is right for your business and customers’ needs.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry and internet merchant account UK has helped thousands of business owners save money and time.
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