Harrison, ME (PRWEB) August 03, 2015
The last three fiscal quarters have seen more than a little excitement in the world of e-commerce. With the introduction of Apple Pay as the first widespread payment system made by the phone, instead of simply through the phone; the recent Starbucks app “hacks;” and the news of EMV cards coming to the US and bringing with them the threat if increased CNP fraud, the topic of mobile credit card payments has taken center-stage.
With these events have come new questions for merchants and important decisions to make regarding the balance to strike between embracing the new mobile technology and protecting themselves against fraud. Some merchants have embraced the brave new world wholeheartedly, while others have had grave concerns about the safety of allowing payments made by phone.
Addressing these concerns is the topic of E-Commerce 4 IM's new article for merchants entitled “Are Mobile Payments Too Risky for High-Risk Vendors?” This resource specifically focuses on the suitability of mobile payment methods for merchants that are already considered precariously perched by many banks and merchant service providers. However, the honest assessment of the risks and rewards associated with such payments are broad enough to include every merchant who is considering whether or not to modify their payment options.
The new resource first addresses the often-confusing topic of payments made by means of an app, such as the Starbucks app, and the far more common tokenized payments in which the app is an essential and integral part of the operation, such as is the case with ApplePay. As the article points out, these methods may seem similar to the end user, but they operate by very different processes and come with different risks for the merchant, with non-tokenized app payments being easier to hack then tokenized payments that require both the app and the physical phone.
The resource then goes on to explain the risks and rewards associated with each kind of payment to allow merchants to make clear and informed decisions.
The bottom line, according to E-Commerce 4 IM? “While horror stories about very real cases of fraud do occur, offering a form of mobile payment is unlikely to lose you points with potential banking partners. For day-to-day transactions, tokenized hardware and software-dependent payment methods are a way to satisfy both your customer's demands and your need for fraud protection, especially when coupled with conventional fraud-detection methods.”
About E-Commerce 4 IM:
E-Commerce 4 IM offers credit card processing, web marketing, SSL certificates, and hosting for online merchants. They specialize in helping high-risk vendors, such as nutraceutical, weight loss supplement, e-cigarette, and multi-level marketing vendors, obtain credit card processing solutions that meet their business needs.