It’s been more than 58 years since the first payment card was issued in the U.S. Ever since then, card use has grown in leaps and bounds, becoming one of the most popular payment methods around.
In more recent history, one of the hottest payment trends is electronic payments. With electronic payment processing, convenience is not only brought to the customer, but to the merchant as well.
With this approach, business owners can enhance and secure their accounts receivable processes by integrating their invoices back to their organization’s accounting system. They also get real-time authorization to ensure that the card or account number is valid.
Merchants also dramatically benefit from electronic payment processing by being able to:
- Enhance the efficiency of their collection process;
- Encrypt card data for improved security;
- Offer customers a secure way to make payments themselves; and,
- Save money by reducing manual entry, paper and mailing costs.
Even More Reasons to Switch Gears
In today’s highly competitive market place, businesses simply can’t afford to be slowed down by manual data entry. Integrated payment processing solutions can speed up the process and prevent errors by reducing the need for employees to enter data manually.
Along with managing efficiency, merchants also need to take the necessary steps to reduce security risks. With ever-increasing consumer concern, as well as the potential problems a security breach would create, merchants today must place security at the top of their to-do list. In order to do this, companies should be using solutions that are up-to-date on all Payment Card Industry (PCI) compliance issues.
For today’s busy companies, it’s important to select a partner that has expertise in the electronic payment processing industry. You want a partner that can offer you a cutting-edge solutions designed to leverage your in-house software and technology, while also having the capabilities to grow with your business and strengthen security. The professionals at BillingTree can help you better understand the advantages of electronic payment processing. For more information on how BillingTree can help, please contact us.