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3 Hilarious Payment Processing Myths People Have
May 8, 2019
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I’m sure I’m not the only one who believed in the tooth fairy, bigfoot and blood-sucking vampires when I was a kid. Thankfully, as we all grow old, we figure out eventually that our parents replaced my tooth with chocolate coins under my bed, not a tooth fairy. And there are no such things as bigfoots and vampires – they are all myths.

Even though we have outgrown these myths, corporate myths start to fill our thoughts, especially with implementing payment processing solutions. So, before these myths start to haunt us, we need to address them and know the truth behind them.

Myth 1: New technology means more struggle

It’s funny and sad at the same time; funny because business owners are still scared of the new technology and sad because they cannot excel with this fear of implementing new technology.

The biggest fear come with the idea that the integration will be a direct implementation to the platform, which many business owners think of as more like a teamwork than a one-man job. Besides, the maintenance of the system seems like teamwork too. In short, it seems like an awful lot of pressure and hassle.

But the reality is the whole process is much easier than one would imagine.

An Application Programming Interface, more properly known as API, is the unique piece of tech that lets the business owners or merchants accept payments with only one application seamlessly. By using such an API, the merchants would not need to leave their platform for accessing the other useful features. This leads to a unified experience for the merchants. The overall process gets even easier with a tailored solution.

Myth 2: Payment partnerships equal hidden fees

Along with the misconception of managing a team to maintain the API integration, the fear of charging customers more than what they agreed to is prevalent with online businesses.

This is not the case in most situations and with many processors; most of the time, the fees and charges are dealt with the business owners or merchants. The customers or the end users aren’t affected by it in any way. This way, the customers are offered a transparent system which is simple and easier to understand.

Myth 3: The changes won’t serve the customers

If you are worried that your customer won’t notice that you’ve spent your resources and time making the payment process streamline, I hate to burst your bubble but they definitely will.

Remember, if 99 customers are satisfied with you, only a fraction of them will leave you good feedback and the feedback or the word-of-mouth referrals might not even bring you enough exposure compared to how much havoc one unsatisfied customer can bring.

Remember, your customers notice everything.

Bottom Line

I’m sure that the right payment processor will help take some of the burden off yourself and give you enough time to work on more productive ways to grow the business.

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About author

Richard Nevis

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