Plastic is now the preferred payment method of choice for consumers across the globe, and accepting card payments is no longer an option for serious businesses. Unfortunately, a number of myths surrounding payment processing still muddy the waters and keep some businesses from taking the leap. Those myths are generally rooted in old information from a time when getting set-up to accept credit cards wasn’t all that easy, but those days are long gone. Here are four of the most persistent of those myths, and how they diverge from the reality of modern payment processing.
PCI compliance is one of the most important factors in establishing safe online transaction processing, but many business owners and managers know very little about it. Most either assume that it doesn’t apply to them or that they already have it – whatever it is. But e-commerce software and online payment solutions aren’t PCI compliant by default, and it’s essential that companies accepting credit card payments – both online and off – understand the basics of PCI compliance and the many benefits that it provides.