Are online shoppers still concerned about payment processing security?
Back in 2016, half of American online shoppers had concerns about the security of payment processors when making purchases online.
Do you think that those concerns have been alleviated in 2023?
Judging by the number of online shoppers now making purchases via the internet (membership websites included), you might say yes. E-commerce revenue surpassed $400 billion in 2020 and is expected to pass $500 billion by 2024.
But it’s not just the privacy of credit card details that is the concern now. Purchasers are worried about data breaches and the privacy of their shopping habits and sites they visit as they journey around the internet on a daily basis.
In fact, according to Forbes.com, in 2023, ”the challenge of balancing data security, privacy and access is at an all-time high.”
What does that mean for website owners? The challenge is to not only ensure potential customers that their payment processing systems are secure, but to also do their best to communicate that effectively.
With all the new online security concerns that have sprung up in the last few years, your customers want to be reassured that their payment information is safe with you. Reputation is huge these days as well, and prospects want to know that your business is reputable and reliable before buying.
Here are some top strategies for to reassure your audience that their credit card details and personal information are safe with you.
Use Reputable Services
Using mainstream, reputable payment processing services that comply with industry standards and regulations will immediately put your customers at ease. The SubHub platform integrates with both Stripe and PayPal, two of the most familiar and trusted payment processing systems out there. Millions of shoppers have PayPal accounts and feel secure using them. Stripe is an accepted ‘go-to’ for credit card processing. With SubHub, you can choose one or the other or both when setting up your website, giving your members the most flexibility and the best security at the same time.
Display Security Information
Showing a security seal from either or both payment processors on your website can help customers realize at a glance that your site is connected to these reputable services. Even a text notification in the footer of your website noting the payment processors used can help.
Display a Privacy Policy
Customers today are just as concerned with how you are using their information as its security within your system. Maintain a transparent privacy policy that clearly outlines how you collect, store, and use customer data, including credit card details. Clearly communicate your privacy practices to customers, assuring them that their information will only be used for legitimate purposes and will not be shared with unauthorized third parties.
It is important that you reassure prospects that you and your website are legitimate, honest and safe at every opportunity, not just when you are asking for their credit card details.
Dedicated Pages
Your terms and conditions page is a great place to reiterate your commitment to payment processing and personal information security. This can also be done through an FAQ section on your website, blog posts, or dedicated pages explaining your security practices. As an additional step, empower your customers with knowledge and make them aware of the steps they can take to protect their own information, such as avoiding sharing their card details over unsecured networks or being cautious of phishing attempts.
Business Transparency
Ensure your customers know who you are and how to contact you. Provide a telephone number that people can call that is answered by a human, and include the address of your physical office on your ‘Contact Us’ page. You can also include photos and bios of yourself and your team on your ‘About’ page.
Customer Support
You’ll want to maintain accessible customer support channels to address any concerns or questions related to credit card security. Promptly respond to customer inquiries and provide clear explanations of your security measures. Assure them that their concerns are taken seriously and that you are committed to protecting their information.
Choose the Best Platform
There are a myriad of plugins for Wordpress websites that allow or expedite payment processing with Stripe and/or PayPal. The problem is, which one do you choose? Are you willing to try one and see if it works, then switch?
An out-of-the-box membership platform like SubHub has the integrations taken care of. Just as importantly, maintenance is also covered. Inevitably, there will be questions about payments, especially if you offer upgradable membership tiers, recurring, and non-recurring subscription plans. With a platform like SubHub, you have a single point of contact for support, instead of spending hours diagnosing issues and contacting Stripe or PayPal’s own support groups.
SubHub also provides your SSL certificate free of charge with any hosting plan to further assure your customers that your website is a safe place to be.
Creating a secure environment for credit card transactions is an ongoing process that requires vigilance and adaptation to evolving threats. By prioritizing the security of credit card details, you can establish your brand as a trusted and reliable entity in the digital marketplace.
You can never do too much to convince your website visitors that you are trustworthy.
Don't have your website yet? Open a free trial with Subhub.com today.
