As we all know, there is a significant shift in today’s consumers’ preferred method of communication. Most consumers would rather avoid the direct dialogue with a live agent call, and the idea of any mail that is not email seems ancient. As collections firms derive methods and develop strategies to accommodate this shift, the benefit that have resulted from this change should not be overlooked.
As a company, you have to make sure that you are using customer information in a way that guarantees, to the best of your ability, that the data won’t fall into the wrong hands. The Payment Card Industry Data Security Standard (PCI DSS) sets standards to prevent such vulnerabilities.
Check payment processing online or by phone provides additional options for customers who don’t have or who don’t want to use credit or debit cards. However, merchants must be aware of common misconceptions associated with electronic check processing that pose potential hazards for customers’ sensitive financial and personal data.
MOTO stands for mail order telephone order. It has become synonymous with any financial transaction where the entity taking payment does not physically see the card used to make the purchase. Here’s what merchants should know about MOTO.
When you have a business that accepts orders, manages payments, or is involved with money, you are going to have customers who need to call in. Thanks to modern technology, you can also opt to implement an Interactive Voice Response (IVR) system to handle customer calls.