We have recently rolled out information on hosted payment solutions as a better alternative for payment processing for parking management clients and added benefits with online payments.
Since payments are hosted on 3rd party sites which process all transactions and specialize in data payment processing and related security, hosted payments are the most secure way of processing payments. Each transaction is more secure and reduces any chance of fraudulent losses or technical issues.
As with increased security, there is the added benefit of reduced liability for merchants who are processing payments. If hacking does occur, merchants aren’t responsible which dramatically reduces risk exposure. Some PCI compliance rules still apply for credit cards but not nearly as extensive. Since 3rd party sites collect and secure your payment details and complete the transaction your data is secured by them instead of the retailer. Since hosted payment options are subject to higher data security standards they’re safer, smarter, easier to use and more effective.
Previously, OPS-COM used custom payment gateways to process payments. Although this was effective, it meant that the payment information was often held or processed by the system and the retailer was held responsible for any data security breaches in which extensive PCI compliance’s had to be met for secure processing.
Even with a secure system bundling payment details to forward to the payment processor, there is still the steps to bundle the data and which means the credit card data is potentially accessible. This bundling step is not seen with a hosted model.
Hosting, maintaining and securing this information was also more expensive and time consuming. While payment gateways make work well, hosted payment options work well for everyone to process payments for a much smaller price and help create a safe, secure and easy-to-use online marketplace. Now, you can spend your capital where you need to effectively grow.
OPS-COM has integrated with a number of hosted payment solutions including PayPal, Moneris, Chase PaymenTech and TouchNet.