Businesses that primarily process credit card transactions where the customer is not present have unique challenges. One of these is minimizing payment processing fraud risks. Many of the advancements in card present payment processing security – like EMV or chip cards – doesn’t help the merchant that takes a payment over the phone or through their software. The card doesn’t have to be cloned, one needs only the card number, expiration date, and CVV code. Other unique needs arise for card not present merchants – like storing cardholder information securely, passing on important payment data, and large transaction controls. As a result, CNP businesses require a bit more expertise than traditional storefront merchants. That’s our jam.
Omnichannel payment processing is a relatively new term that has gained significant popularity as technology and customer desire has fostered new requirements for businesses. Omnichannel (also referred to as omni-channel, omnichannel, or unified commerce) refers to a business that processes payments across many different environments. Think of the retail store that sells online and in-store through a single merchant account. The Coronavirus pandemic has forced businesses to adjust and as a result, technology adoption has never been greater. In years past, most of these merchants would be forced to set up different accounts for each payment environment. With omni-channel payments, merchants enjoy the convenience of one account for all of their processing needs.