Small scale businesses are now able to participate in the global marketplace thanks to the power of the internet. No longer is the international market reserved for larger corporations who service thousands and millions of customers. Instead, as a small business owner, you can utilize the power of the international market to boost profits and spread the word regarding the products and services you offer.
However, by moving your business scope to the international market, you also must be aware of the international transaction safety concerns that come along with it. These concerns occur both from your business ownership standpoint and from the international consumers who are considering doing business with you. As such, here are some tips for ensuring the safety of your international transactions to calm both your personal fears and the fears of your potential customers.
Protecting Your Business
Many online scammers are waiting to purchase products through businesses that don’t have proper overnight shipping fraud catching measures in place. Many of the fraudulent transactions taking place online are through international channels since it is more difficult for authorities to catch these thieves. As such, to remain a legitimate and trustworthy company in the eyes of your consumers, you must implement strict transaction rules using the latest in credit card processing technology.
The safety measures you can implement include requiring that a CVV number be entered with each purchase that is made for your products. Often, identity thieves obtain the credit card numbers of unsuspecting consumers and then use those numbers with online businesses who don’t require the use of a CVV code. By requiring that the CVV code be entered before a product can be purchased, you can greatly reduce the number of fraudulent purchases of your products.
However, when requiring the entry of a CVV code, you must also be prepared to handle the increased inquiries of legitimate consumers who aren’t yet aware of where to locate this code. This process can include educating your customer service representatives on how to handle these inquiries to avoid unnecessary consumer frustrations and allow for smooth transactions.
Calming Consumer Worries
Online customers are bombarded with countless online phishing scams each day. As such, the results as become increased wariness when considering making international online purchases because most of the phishing scams come from locations claiming to be abroad. As such, it is your responsibility as a business owner to calm the fears of your international consumers and reassure them that you are a legitimate business that will deliver on your promise of high quality and quickly delivered products. You can do this in several ways.
First, ensure that you are using an online transaction service that is highly secure and legitimate. Then, reassure your customers that their online transaction with your business is safe by posting the secure measures you have taken with the processing system. These postings can occur by displaying a safety certificate on the transaction page and also by listing the security measures that have been taken in your payment terms. The more ways you can show consumers that your website is a legitimate one that will keep their personal information safe, the more likely those consumers will be to complete their transactions with you.
Since international transaction safety is always changing, it is something that should always be top of mind as you move more deeply into the international market. By providing safe credit card processing options for your customers, you can experience immense success in the online market and avoid allowing fraudulent transactions to take place through your website.