Modern commerce operates much faster than it once did. Even small mom-and-pop operations now accept credit cards and obtain approvals in seconds. The days of using credit card machines and keying in unlimited data are gone. Merchants must be able to process transactions from customers halfway around the world and do it quickly. Applications like BlueSnap payment processing software allow them to do all that and more.
Merchants Accept A Wide Variety of Payments
Payment platforms, also called gateways, send information from portals to processing banks in seconds. Portals can be Internet sites, mobile phones, or stores. The same gateway that speeds transactions also includes features that allow merchants to accept a range of payment types. Sellers can accept credit cards, bill through invoices, or arrange subscriptions. The software also lets sellers take over more than 100 kinds of currency, so customers can pay using local currency no matter where they are.
Fraud Prevention Is Part of the Platform
Merchants also integrate payment platforms into their businesses to reduce fraud losses. Gateways let clients customize their fraud prevention strategies. That is important since no two companies have the same needs. The software includes intelligent fraud detection technology that protects sellers through every step of processes. Clients can identify the real source of suspect IP addresses. They can detect fraud on mobile on iOS and Android devices. Platforms typically offer customer authentication options. Built-in features also help merchants reduce chargeback losses.
Essential Reporting Data Can Guide Merchant Decisions
The analytics and reporting features incorporated into payment platforms give each client a birds-eye-view of their operation. Some features allow sellers to examine conversion information and detect which areas need improvement. Sales data provides feedback that is essential when planning future campaigns. The software makes it easy to reconcile the books. Reports also provide data that alerts sellers to bad transactions that are cutting into profits and slowing growth.
Today’s merchants rely on sophisticated payment software to process transactions quickly. The software allows them to accept many types of currencies and payment types. Payment platforms also provide valuable information that merchants use to identify problem areas and create future strategies.