How to take and process payments securely over the phone
Unlock new growth opportunities, connect with local and international clients, and streamline billing cycles by embracing the power of secure card payments over the phone. However, in a world where phone spam and fraud rates are on the rise, we understand your concerns about financial security—for both your business and your valued customers.
Phone Fraud Statistics That Matter:
The impact of phone fraud incidents are significant: UK organisations have suffered losses of over 100 million. Astonishingly, there have been 3,412 reported cases of phone fraud, costing UK firms an average of £29,806 per incident. Banking fraud, including cheques, credit cards, and online accounts, was the target in 1,700 documented phone scams. Limited firms (55%), public limited companies (16%), and sole proprietors (7%) faced the highest risk. Businesses in London City reported the highest number of phone scam incidents relative to the number of officers in each force.
The Game-Changing Solution is Agent Attended Pay-by-link Solution
Introducing the revolutionary Agent Attended Pay-by-link digital payments solution that ensures 100% fraud-free transactions over the phone. Despite the challenges identified by Action Fraud's database, where businesses continue to lose millions of pounds to phone-related fraud, our system guarantees the security you need to protect your business and your clients.
Simplified Process of Accepting Credit Card Payments Over the Phone
Experience the simplicity of accepting credit card payments over the phone with SOTpay. During the call, you can effortlessly send a secure payment link directly to the client, allowing them to complete the transaction in real-time. Alternatively, you can send the payment link via email, SMS, WhatsApp, live chat and social media, or any channel your customer prefers. This approach is also perfect for agent-unattended sales, meeting the stringent requirements of PCI DSS without transmitting any card information.
Unlocking Opportunities by Accepting Secure Phone Payments
Phone payments offer endless possibilities, such as instant purchases during product or service enquiries, collecting deposits for reservations, or facilitating contract renewals. At any given moment, a potential client might call, so it's essential for every business to be equipped to accept payments over the phone.
Protecting Your Business from Customer Not Present Phone Scams
We understand that customers may be hesitant to share their card details over the phone. By assuring them that they won't need to, you instil confidence in your company. Recent statistics reveal that over 70% of all card fraud in the UK involves card fraud where the cardholder is not physically present. This highlights the importance of presenting your company as diligent and fully compliant to safeguard your clients' trust.
Outsmart Telephone Fraudsters and Safeguard Your Business
Fraudsters often employ tactics like spoofing companies or requesting sensitive information to steal bank accounts and personal funds. To combat these attempts, it's crucial to inform clients that specific information will never be sought during phone payments. Empower your customers to hang up and contact your company using the official number listed on your website if they have any concerns about the legitimacy of the call.
Safety and PCI DSS Compliance at Your Service
Accepting credit card payments over the phone can be fully secure when you select a payment system that is PCI compliant. Compliance with the Payment Card Industry Data Security Standard (PCI DSS) ensures that your business handles credit or debit card data safely and securely throughout the entire transaction process. By partnering with Gala Technology, you can be confident that your phone payments meet these industry standards.
Keeping Customers Data Secure, While Avoiding Penalties
Non-compliance with the PCI DSS not only jeopardises the security of your customers' credit card information but also results in monthly fines that can range from a few thousand pounds to a staggering £100,000 or more, depending on the size of your company. Choose a PCI-compliant payment system to protect your customers and avoid substantial penalties.
Risks of Reading Credit Card Details Over the Phone.
Taking payments over the phone by tapping credit card details into a desktop card machine or virtual terminal is not compliant and poses extreme risks to your business. Avoid potential losses, chargebacks, and additional fees by implementing secure payment measures under our expert guidance.
Phone payments are Associated with High Transaction Fees
Allowing customers to read out credit card details over the phone can lead to non-secure fees and higher acquiring rates. With our solution, you can avoid these extra costs which and ensure a smooth payment experience for both your business and your customers.
Unlock Enormous Savings with Secure Phone Payments
The acquiring banks reward knowledge of risk and compliance, thus using our solution can result in significant savings of up to 50% on transaction costs. For this reason, it's always worthwhile to request a free payment assessment from Gala Technology, please click here
Boost Security with Comprehensive Training Awareness
Maintaining a high level of security awareness among your staff is crucial to prevent accidental compromises of critical information. Regular training reinforces the importance of safe and secure transactions and ensures everyone is aligned with best practices. Remember, never write down sensitive credit card details and always adhere to GDPR principles on storage limitation.
Ready to Take the Next Step?
Contact Gala Technology today to explore how our agent attended phone payment solutions can empower your business. With no lengthy contracts or joining fees, our bespoke pricing packages and complete compliance make us the perfect partner.
Reach out to our team of specialists at +44 (0) 1709 911 661 to discover how we can assist you with card terminals, online payment options, or phone payments that drive your business forward.
Maximise your productivity with our 15-minute demo tailored to busy work schedules. You already know it's a smart investment of your time. Unlock essential information now to make informed decisions for your future commercial success. Don't wait—book your demo today!