Taking Credit Card Payments Over The Phone Regulations

While there are costs to taking card payments the benefit is that you may also get more customers.

Taking credit card payments over the phone regulations. As a business the biggest risks associated with phone payment processing come from not following pci dss compliance in short this refers to your consent to safely and securely accept store process and transmit cardholder data during card transactions. The payment card industry security standards council pci ssc was launched on september 7 2006 to manage the ongoing evolution of the payment card. Internet and phone payments. Choose a virtual terminal provider.

In many cases the customer would like to pay over the phone with a credit card number. There were several occasions where the customer claimed they did not make the purchase when in fact. Dear your business credit i have a restaurant business in which we have take out and delivery orders. Before you can take phone payments the first thing you should set up is a virtual terminal.

You ll also be able to take payments outside normal business hours. There are also hidden costs to handling cash such as the time and security needed for trips to the bank to make deposits. Accepting card payments is not just for face to face transactions. While statistics show that card not present transactions have a higher rate of fraud than card machine payments it is considered safe for legitimate customers to pass on card details to a legitimate business the uk campaign take five is a helpful resource for consumer advice.

They will usually call it virtual terminal or moto mail order telephone order payments. Rather they re there to keep your business and your customers safe to prevent fraud reassure your patrons and help you avoid big fines. Is it safe to take payments over the phone. Debit and credit cards can also be used to pay over the phone or internet which can help to build up business further afield.

Like many of the best things in life credit card processing comes with rules regulations and laws. Yes when you follow the right process. The payment card industry data security standard pci dss is a set of security standards designed to ensure that all companies that accept process store or transmit credit card information maintain a secure environment. If you re a small business owner you may want to accept over the phone credit card transactions.

Businesses that take card payments over the phone are required to adhere to the payment card industry data security standard compliance regulations. In the uk quite a few payment providers accept card not present transactions which is what over the phone and mail order payments are sometimes called. Pci dss was created to prevent credit card fraud in 2004. We stopped using this method for fraudulent uses.

Businesses that don t may be liable for non compliance fines and may be forced to stop accepting payments by card.