
8 mistakes to avoid when choosing a payment processing software
One of the most crucial aspects of running an e-commerce business is finding the right payment gateway and processing software for customers. This choice determines the seamlessness of the transaction, which can significantly impact a customer’s shopping experience and the company’s reputation. With so many providers available, choosing the right one can be difficult. Read on to learn about common mistakes businesses make when choosing payment processing software and simple ways to avoid them. 1. Disregarding PCI DSS compliance PCI DSS (Payment Card Industry Data Security Standard) is a requirement for all payment processing software that covers credit card transactions. To comply with these regulations, the payment processor must maintain an effective firewall, use updated antivirus software, utilize encryption technology for data storage, and review their data security policy periodically. Often, companies forget to account for this compliance when looking for a payment processor, exposing their business to cyber-attacks. Before signing up for any new provider, it is important to ensure they comply with these basics. If not, the business will have to get certified on its own, which can be expensive and time-consuming. 2. Overlooking security One of the most common mistakes businesses make is to assume that security is guaranteed with their payment processing software.
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