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5 key benefits that payment processors offer SMEs

As a small business owner, it can be overwhelming to find the time and resources to research and choose new products and enhancements that could benefit your company. In an era where new technologies are coming out at an ever-accelerating pace, it’s important to implement solutions that are both modern and cost-effective – ultimately helping you increase profitability.

Working with the right payment processor can greatly fuel your business growth as it integrates a suite of payment tools in one solution, making it easy for SMEs to increase the efficiency of their payment processes.

In order to gain a better understanding of payment processors, let’s consider some of their primary features & benefits:

1. A hosted payments page

A payment processor like TRU Connect will integrate a Hosted Payment Page complete with brand customisation on your website. Your customers won’t be able to tell the difference between this dedicated payments page and the rest of your website; therefore, there will be no loss of trust when adding in their payments details. Moreover, this page can be available in a choice of languages so that no matter where your customers are, their payments experience is optimal and localised.

Businesses can reduce risk exposure immediately with a dynamic, PCI compliant hosted check-out form if they incorporate a payments processor. Additional features include mobile and eWallet support, multiple output formats for cardholders, and multiple transaction types.

2. Access to virtual terminals

Virtual terminals are web-based software integrated into payment processors that allow business owners to process remote payments online quickly and securely – whether over the phone or virtually. Similar to a traditional card-present terminal used in stores, it allows business owners to get the convenience of a terminal combined with the power and security of a payment processor.

With the right payments processor, no website is needed to process virtual terminal payments, just an Internet-enabled device, like a laptop, tablet or smartphone.

3. Better data and reports

One of the most important features of a great payments processor is the reporting tools it comes with, which offer valuable insights and data to help you scale your business. Business owners will not only be able to create custom fields for tailoring specific reports but will also be able to export their reports virtually from any computer device.

Businesses can build reports based on daily, monthly, quarterly, or even yearly data to analyse their sales/business performance and look for ways of improvement.

4. Avoid fraud and chargebacks

You can avoid the hassle and expenses associated with bounced checks and bad payments if you accept electronic payments with the right provider. Furthermore, it is also possible to accept recurring payments for services you provide on a regular basis, such as subscriptions.

Moreover, using specialised systems like Trust Payment’s 3D-Secure system will confirm the customer’s identity by using fingerprint authentication, voice or face recognition and biometrics, further enhancing your security efforts.

5. Enable alternative payment options

When it comes to paying, your customers want choice. The current generation of consumers wants to use alternatives to traditional payment methods, such as mobile wallets.

Payment processors help your business keep your customers happy by enabling them to pay the way they want by accepting payments from direct debits, prepaid cards, BNPL options or gift cards. This is why it’s vital to understand what your needs and options are before committing to a payments processor, whether you are working with them directly or through a third party.

How are you accepting payments?

Incorporating a payment processor is a vital tool for small businesses owners to take control of their commercial activities and stand out from the competition. The added benefits and insights from the right payment processor outweigh any investment costs, and small businesses will be well on their way to future success.

Working with a payment processor like TRU Connect can lead to satisfied customers as it offers flexibility to make purchases in different ways. Whether your customers prefer to pay via debit or credit cards, online on your website, via mobile or recurring subscriptions or via links on social media, they will certainly enjoy it when they can shop with ease and experience a smooth payments process.

Security statement

Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2, between your website and our datacentres.

Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.

We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.

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