Prelude's Insights on Outbound Payments Blog
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Prelude's Insights on Outbound Payments Blog

Does Your Current Payment Solution Offer Safety, Security & Control in Today's Volatile World?

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In today's electronic age everything is going paperless, including payments, and security threats are evolving along with this change. Internet financial fraud is an increasing problem from overseas scams to identity theft. Businesses big and small are continuously fighting this invisible adversary with better and more complex security solutions. But with their knowledge increasing, the criminals always seem to be only one step behind.

Ystats.com recently released a report, Fraud in Global B2C E-Commerce and Online Payment 2014, showing the rise of electronic payments will be accompanied with an increase in fraud. Now, more than ever, it's important to seek out and expect safety, security, and control with your payment solutions.

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Safety

Your first concern is for account safety. Safety begins with the ability for only authorized users to access your account information and to change any account settings or preferences. You should look for strict user authentication and permission requirements. Such safety protocols are your first line of defense to prevent any issues before there is cause for concern.

Security

The next qualification is security. You want to be able to catch any fraud attempts in the beginning, before your account has to suffer. Fraud protection should include all forms of payment including positive pay for check verification. Funds are released only when the payment details match the exact items on the check. 

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Control

Finally, you should have control over your own payment processing accounts. Easily adding or switching banks and making different types of payments are examples of the self-management you should look for. This along with the flexibility of having room for growth will keep you in the driver's seat. 

It should be standard for your modern payment solutions to offer a guarantee in safety, security, and control. Prelude Software does that, and so much more. We believe in providing outstanding quality and customer service. Contact us today to find out just how you can improve your processes and realize a significant ROI.

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Tags: ACH, integrity of payment data, bank agnostic, disbursement hub, Outbound Payment Processing, security, issuing payments, reduce risk, card payments, bank account information, bank account info, control, issuing outbound payments, disbursement processes, checks, MICR checks, PayPilot, electronic payment, safety

 

Do you know the items on the Disbursement Hub Checklist?

Disbursement Hub Checklist

Learn the key items to consider when implementing a disbursment hub for your organization. 

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