Dealing with credit card processing for small businesses, it is easy to see some of the challenges small businesses face. One key area where small businesses are challenged is the ever-evolving domain of payment processing. Here we have decided to address some of the most common challenges small businesses experience with payment processing.
Chargebacks are a major concern for small businesses. Over the last several years, there has been an increase in chargebacks in online purchases for businesses across the board. Small businesses have been identified as more vulnerable to these types of attacks, however. In order to address this vulnerability, it would be most beneficial to work with a payment processing company that can help with a chargeback management plan. This will allow you to develop strategies to deal with and limit chargebacks in order to decrease the impact these can have on your business. Things like having a clear returns policy & adequate customer service can help.
Another key payment processing worry is fraud. Fraud is a major issue, and it continues to shift and grow. There are more and more types of fraud, and it is easier for your business to be affected by them. Fraud threatens the growth of businesses because it appears in places like online and mobile transactions. This can be a major challenge to your small business. In order to address fraud, it is important to stay aware of where it is happening. Read reports on it and stay up to date. Work with a payment processor that provides fraud protection. Moolah makes security a top priority and provides fraud protection to our customers. Make sure you are protected, both from fraud, and in the event that fraud occurs. Do your part to limit fraud, and protect yourself and your customers.
Because of the growth of chargebacks and fraud, the government and companies have been increasing regulations for businesses. Issues like PCI-compliance can be a real headache to small business owners. However, it is important to do your best to follow these rules and regulations for your benefit. In order to address regulations, it is valuable to work with a payment processor that does their part to improve security and follow regulations themselves. Work with somebody that helps you attain PCI compliance. At Moolah, we provide a PCI compliance suite free of charge to all our clients. It is one way we do our part to ease the burden of the regulations that you face when dealing with payment processing.
While payment challenges are just some of the struggles your small business may face, they cause more than their fair share of headaches. At Moolah, we do our best to make payment processing as challenge-free as possible. That is why we do so much to protect our clients from some of the challenges inherent in payment processing. We believe our approach to credit card processing for small businesses helps us stand out. We will do our best to limit your challenges, and work with you to overcome any challenges you may face, and keep your business growing.