Payment technology is growing increasingly integrated, allowing users more freedom in the way they access their money, especially through mobile devices. At the same time, this rise in mobile options represents a possible problem for realtors who don't have sufficiently secure credit processing software. Paying attention to the ways customers want to pay can help businesses get ready for the future systems they will need to focus on.
Quartz recently gave a few examples of credit card changes that could become important trends in coming years. One of these involves paying for things through a smart car, something which parallels the rise of the Internet of Things and wider connectivity.
Another possibility could be an increased role for automated technology like Siri in pre-ordering through the phone. While all this may sound liberating for the consumer, companies have to stay alert to the latest credit card security threats to avoid being left behind.
Writing for Payments Source, Guy Harris identified the link between the progress of new payment systems and the possible security hazards they bring with them.
"Businesses know that accepting payments is mission-critical to making it easy for customers to do business with them," he writes. "The point of sale (POS) device – whether it's a terminal, tablet or mobile phone even – makes all card transactions possible, but that means multiple points of entry for hackers too." To this end, Harris recommends multiple technologies for safeguarding card data after the purchase.
Brick and mortar stores should consider both security and the ease of use when determining the best card processing software. This can help businesses meet customer demands effectively.