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5 Payment Gateway Myths Refuted

by Gertrude LaFoyette Many online stores enjoy secure payment gateway softwares. Its service brings significant benefits to these website owners. But a good number of businessmen remain adamant, if not downright skeptical, about payment gateways. And rightly so. After all, it is a recent technological trend in the business world. Businessmen hardly discuss it during their meetings and conferences. Hence, only tech-savy individuals know about it. In addition, newspapers dish out new Internet scams and frauds on a daily basis that scare off the public. No wonder that online entrepreneurs usually express reluctance on any financial transactions involving the Internet. We conducted a telephone interview on some business owners about secure payment gateway myths that tick them off. Here are their answers: <ol> 1.) Payment Gateway Is Another Scam To Extort Money from Businessmen “ I've read about secure payment gateway software companies and I think it's just another way to mulct money from unsuspecting online shop owners.” Jason Wells,owner, Mom & Kids Store</ol> Answer: NOT TRUE. <ol> The truth is, payment gateway software companies are not scam propaganda. It's the latest business trend in place precisely to protect your online business. In fact, you will lose more money or revenues if you DO NOT SUBSCRIBE to a secure payment gateway. Without the protection of a secure transaction that payment gateway software offer, you face the risks of relentless chargebacks from dishonest customers. These chargebacks will cost you revenue loss and your business will suffer. Eventually, you will lose more than you ever hope for.2.) Payment Gateway Transactions Can Be Intercepted or Hacked “ Since payment gateway software involves transactions via computer and Internet, it's more likely that some persistent hackers can somehow intercept the transactions along the way and route it somewhere else. That's why I stay away from such service.“ Mitchie Randall, owner, Wedding Plans and Gift Shoppe.</ol> Answer: NOT TRUE While it's true that payment transactions happen online, they utilize the latest, industry-strength 128-bit encryption algorithm that renders it virtually hack-free. In this way, your information remain safe and secure. No individual or business owner that has secure payment gateway service ever come forward and declare that his/her information had been hacked,intercepted, lost, or compromised in anyway. <ol> 3.) Secure Payment Gateway Service Is Costly “ I barely make out profits with my business. Why would I cut away some of my earning for secure payment gateway service? It's costly. ” Dianne Pendleton, owner, Fruit Baskets & Corporate Gifts.</ol> Answer: NOT TRUE Since almost all stores and online shops nowadays transact business through credit cards, shop owners often encounter stolen, cloned, or falsified credit cards that could potentially harm their business. This could be prevented. With payment gateway secure verification service you will be spared from these fraudulent credit cards. The small fee you pay for such protection is small compared to the potential huge revenue loss you will encounter WITHOUT secure payment gateway service. <ol> 4.) Negotiating for Secure Payment Gateway Software from Company Providers Is Too Time-Consuming “ I would like to get this service but I get the impression that applying for such service takes too much time. In fact, I've read it would take months before an applicant could acquire one.” Rose Shelby, owner, Glamour Photo Shots and Processing/</ol>   Answer: NOT TRUE. Applying for secure payment gateway service takes the same amount of time as in gobbling up a glass of ice cream. It's so easy , fast, simple and intuitive. Try it and see for yourself. <ol> 5.) Payment Gateway Service Is Only Available Near or Within the Vicinity of the Company Offering It “ I'm sold to the idea of a payment gateway service. But when I make an Internet search for these companies, I found out that most of them have business locations on the other side of the globe. None of them have satellite offices within my locality. So, as much as I wanted to subscribe to this service, there's just no payment gateway company within my area.”</ol>   Answer: NOT TRUE You can search for secure payment gateway companies in the Internet and once you have settled for one, you can apply for their service online. You could be in Alaska and still avail of a secure payment gateway service from a company in New York. Geographical boundary has nothing to do with it. As long as you have a computer and an Internet connection, you can apply for this service wherever you maybe. ( Gertrude La Foyette is a business consultant and researcher of a leading secure payment gateway company. On her free time, she writes business topics for various newspapers and magazines.)  <a href="http://www.onlywire.com/submit?u=http://www.securepaymentgateways.com/5_secure_payment_gateway_myths_refuted.html;t=payment%20gateway%20;tags=payment%20gateway" target="_blank" title="Add this Article to Onlywire"><img src="http://www.onlywire.com/i/onlywire.ico" alt="" />Add to Onlywire!</a>

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