Risks of Credit Card Payments Manual Entry

Manual processes in your accounts receivable workflow equal inefficiency and the potential for error. There’s even a higher degree of risk when inputting credit card payments manually. Streamlining this workflow with a robust and secure electronic payments platform minimizes these potential risks and delivers more benefits.

So, why is this so risky?

Risk 1: Payment Information Could Fall into the Wrong Hands

While you take precautions to safeguard credit card information, there’s always a chance that the information could be exposed. If you write down the card numbers to enter into a system, you must dispose of them properly.

Simply tossing it into the garbage can isn’t enough. Shredding is the recommended procedure. If someone forgets to do this or isn’t aware they should, those valuable digits could be accessible to someone who may use them nefariously.

Risk 2: Numbers Could Get Transposed

If a customer calls in to pay their invoice via credit card, your staff may jot it down to run later. When taking down the numbers, they may accidentally transpose them. This could result in a failed payment attempt or a charge to the wrong card.

You may have to contact the customer again for payment, which could take several more days. It further delays your revenue realization.

Risk 3: Disputes Could Occur

If you manually run credit card payments each month for an advertiser, they may not recognize the charge. It could cause them to lodge a dispute with their credit card company, leading to confusion, extra work and possible fees. The only way to eliminate this would be to call the customer every month, review the charges and get their approval. Depending on the volume, this could take hours or days!

Reduce Risk with an Electronic Payments Platform

If these scenarios have occurred or could happen, the risk is serious. Manually entering numbers is also inefficient. Your staff has much more meaningful work to do. Avoid risk and streamline credit card payments with an integrated electronic payments platform.

Our payment solution, PayNow, has all the features you need to mitigate risk and boost efficiency.

Guest Checkout Lets Advertisers Input Information

Once your advertiser receives their invoice, they can remit payment via guest checkout. They don’t have to log in; it takes minutes for them to complete the transaction and receive their receipt.
The PayNow Advertising Portal Lets Users Manage Their Payments

Part of the PayNow platform is the Advertising Portal. Within it, customers can pay multiple invoices, manage their account and review payment history. It provides visibility and clarity around their advertising charges, which can also reduce inquiries to accounting.
All Payments Are Secure

PayNow meets all applicable rules and regulations related to receiving credit card payments. End-to-end encryption and tokenization deliver layers of security to mitigate against the chance of data breaches. You can be confident that your station stays in compliance and lowers risk.