The growth of online trading has brought with it the challenge of how to facilitate payment for that trade. The ability to make purchases online has given a dramatic boost to businesses in opening up markets but although it is extremely convenient for customers, it conceals operational complexities behind the practical and regulatory demands of processing online payments. Issues of identity and authentication are significant when a consumer uses a payment card in a high street shop. When the transaction takes place online, there are many more security concerns which have to be addressed to avoid theft, fraud, loss, liability and compensation claims.
Arm’s length payments can be made by the traditional methods of bank transfer, direct debit and standing order, but these are inappropriate for the kind of instant transactions which comprise the vast bulk of online trading. Here, there are two major methods – payment links on a website and payment by telephone. These are prime examples of card-not-present (CNP) situations and both customers and merchants are wise to be conscious of the many security risks involved. While payment in person may seem a safer option – although it has its own dangers – payment online or by phone can feel as though the customer is ceding control over a process that is distant and opaque. Our payment services seek to reassure and restore confidence that transacting with our clients is secure.
Some key benefits of Gradeon's payment services
Working with Gradeon to make payments safe and simple
At Gradeon, we work with strategic partners who specialise in the field of payment processing, online, by phone and via links sent by text or email. Consumers want to be able to trust online retail because doubt about security is the one thing which will deter them from using it. Removing that doubt will make your business hugely attractive and drive customers your way. We make secure phone payments simple by giving you access to secure platforms that already comply with regulations such as PCI DSS and GDPR. Our payment services are designed so that the responsibility for security is assumed by the payment providers, relieving you of the obligation to process and store data according to the regulations because the provider does this for you.
Exactly the same benefits are available across all three methods. For telephone payments, the technology has moved the process from the call handler to the consumer so that instead of entrusting their card details to a stranger over the phone network, they are now able to enter all the details from their keypads, from which they being their encrypted journey to the processor without any other human intervention. The same security measures are applied to payment via websites and the links that a retailer might send when payment is not to be made instantly. Payments can be made using all of the world’s major providers and PCI compliance is built in to make your processes swift, safe and legal. Contact Gradeon today to take advantage of our versatile payment services.