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If you only have one payment method set up in your account and it fails for some reason - credit card blocked, expired, reached the monthly limit, etc. - all your campaigns will automatically stop running until you settle your balance. This can be a very big issue if you’re running multiple campaigns with high spending on promotion.
Nowadays, cyber-attacks and malware targeting in the finance industry are becoming more precise, complicated and difficult to detect. Banks and payment processing companies do what they can to prevent them by regularly implementing new protection measures against new types of attacks.
Businesses play a colossal role in protecting sensitive online data. A strict attachment to consumer data security protocols and fraud detection can increase trust. Not only will these efforts protect data and earnings but they will ease customers’ fear of mishandled or embezzle data.
Compare and contrast this with traditional means of marketing like radio, print or TV. Of course, they do target – a TV ad during an afternoon soap opera will resonate with the female audience, but the level of targeting the social media platform offers cannot be matched.
Payment facilitator model, though more fruitful, is much more difficult to implement. Besides the financial guarantees that PayFac model requires a technical solution that would allow to handle remittance of funds to the merchants (including calculation of fees, withholding of reserves etc).
In today’s world, higher E-commerce authorization acceptance rates are main factor of online customer satisfaction and engagement, which can result in bigger card usage, cardholder retention, and higher revenue potential.
Why choose an integrated payment system? Well for starters, if you have a POS system and you’re not using an IPS integration, you may be overpaying, putting your business at risk or creating unnecessary difficulties for support.
