How to Accept Credit Cards Securely for Retail / E-Commerce

4/24/18 11:32 PM

Credit cards are a mainstay for many consumers today. In fact, U.S. credit cardholders rarely change their cards, with 28 percent staying loyal to their credit cards. Moreover, if you want to increase your sales potential, it's key to have a credit card processing system that communicates swiftly, easily and securely. Whether you're accepting credit cards to support your in-store sales or your online storefront, it's important to have a plan for how to accept credit cards in a secure way.

Today's technological advancements make it easier than ever before to accept credit card payments securely using point-of-sales (POS) payment processors for in-store sales that work with enterprise relationship planning (ERP) systems and online payment processing services for your e-commerce site. You can also use a robust credit card payments interface with ERP and POS/e-commerce sites to leverage the benefits of offering payment solutions that accepts credit cards both online and in store. You can do all this and also protect your users' credit card information. Here's how it's done.

From Card to Secure Gateway to Your Business Bank Account

To securely take transactions online or in person, you'll need a credit card processor, a merchant account and a secure gateway, if it's not provided by the merchant account provider. Once these are set up, you can start taking payments from customers who shop your stores online or in person.

Once the customer swipes the metal bar on the card or inserts the card chip in person or inputs their card number online, the information from the card is transmitted online via a secure gateway. This information is encrypted to reduce and eliminate hacking or ID theft before being sent to the processor. The card's information is then transmitted to the credit card network and the issuing bank of the customer. Processing fees are removed and the remaining transaction fee is deposited into your bank account.

If you're looking for the best ERP system for small company transactions, then SAP Business One is an ideal option. With SAP Business One, the credit card payments interface is integrated with the ERP and POS/e-commerce site so that you can handle card transaction billing data. For example, if a customer disputes a transaction, SAP Business One helps you with bill-back processing. You can also mask the card numbers that are encrypted so that they're not visible from the user interface. This ensures that your customers' data is secure even when your sales associates are handling in-person transactions.

Learn More: Find out how to maximize your sales and margin potential by delivering a seamless shopping experience across all channels. Get a copy of the free Omnichannel Retail Guide.

Consider PCI-DSS Compliant Solutions

Small businesses are not immune to data breaches, and they cost an average of $36,000 per incident. Because a data breach is continuously a concern, it's important to follow industry standards. If a breach occurs, you want to make sure your business is using services that are compliant with the Payment Card Industry Security Standards Council. The PCI-DSS compliance regulations dictate what measures businesses should take to secure their customers' data. With SAP Business One, you can also implement these measures to enhance payment card security.

Final Thoughts

As customers continue to use credit cards to pay for items online or in your store, it's vital to use a system that can facilitate the secure transmission of their information. When you use an ERP system, such as SAP Business One, you can leverage the benefits of securely transmitting this information via a secure gateway that is integrated with your online store or POS system.


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