Small business: Best practices for online credit card processing

Introducing a credit card payment option is a great way to enhance customer satisfaction. Most shoppers prefer using credit and debit card when shopping online. In America, people have become more dependent on credit cards.

Thus, for small business owners, integrating credit card processing is a huge advantage over competitors. Using credit cards is convenient and easy for both the business owner and the customer. However, if not correctly implemented, credit card processing could be risky for small businesses.

Needless to say, online credit card processing is highly vulnerable to the illicit acts of cyber criminals. Nevertheless, there are several ways on how entrepreneurs can effectively integrate a credit card payment option with their small businesses.

1) Credit card information should pass via SSL

Secure Sockets Layer or simply SSL is a unique computer programming protocol that provides security over communication and data-transfer on the Internet. By integrating an SSL protocol on online credit card transactions, small business owners are secured with their transactions.

2) Choose a reliable payment gateway

There are three known and reputable payment gateways where online transactions go through. These three include Authorize.net, Paypal and Verisign. For online businesses, using Paypal as a payment gateway is highly recommended due to its International reach.

All three of these payment gateways use advanced fraud detection and prevention tools.

3) Create a merchant account

A merchant account is necessary in order to be accepted by payment gateways such as Paypal. More so, personal accounts won’t work and isn’t compatible with online credit card processing. Creating a merchant account is easy. Moreover, payment gateways such as Authorize.net even give a list of approved resellers where one can create a merchant account.

4) Designate only one computer for banking and credit card transactions

Designating a single computer for banking and credit card processing tasks is important especially for security purposes. The designated computer should be used only for such tasks; it should not be used in e-mail messaging and web browsing.

The designated computer must not be exposed to security threats such as viruses and fraud websites.

5) Secure computer systems with topnotch anti-virus software

Using topnotch anti-virus software is necessary especially for the designated computer. There are a lot of advanced security tools available over the Internet – some are free while other can be purchased for a small fee.

Some of the most reputable anti-virus programs include Symantec, AVG and Sophos.

Small business: Best practices for online credit card processing. 2011, February 11. Retrieved from http://www.helium.com/items/2093932-small-business-best-practices-for-online-credit-card-processing.

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