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There is no doubt that the development of new technology has led to a significant increase in the daily volume of debit and credit card payments being made, as well as the number of online transactions being undertaken for a whole range of goods and services. Such an increase in card usage has meant that it is now more important than ever, for businesses to have both the ability and security to handle such a large volume of payments. The provision of this security has become of paramount importance and has led to the development and implementation of ‘Online Payment Solutions.’ Installed as a software programme, each platform acts as a filter, to ensure that the correct details of the customer are entered whenever a transaction takes place between them and the merchant, thereby guaranteeing a safe and secure payment. Each platform can be tailor-made to meet the specific requirements of the business, including helping to improve the merchant’s ability to handle a greater volume of transactions more quickly and efficiently, while helping to reduce the amount of risk and payment costs, a vital factor in the future growth and success of any business. The development of such tailor-made products can now provide merchants with all the necessary services they need, to ensure that their new E-Commerce account operates as an effective and successful business that is able to accept both credit and debit card payments. Likewise, for well-established global companies, with high transaction volumes in different currencies, an effective, efficient and flexible payment processing system is of the utmost importance if they wish to stay ahead of their competitors. The volume of online and card payments within Europe is set to change quite dramatically, with the introduction of a number of initiatives by the European Commission, including the instigation of a Single Euro Payments Area (SEPA), which will allow businesses within the Euro Zone to conduct cross-border payments in Euros, with the same conditions, rights and obligations, regardless of where the payment was made. In Western Europe alone, it is estimated that total sales using E-Commerce will exceed €2,200 billion Euros in 2008, an increase of 326 per cent on 2004 figures (Forrester Research). If this trend continues then the growth in electronic payments will continue to outpace the growth in GDP (Gross Domestic Product) for at least the foreseeable future, and will place even further pressure on the Payment Solutions of individual businesses, as they will have to try and cope with a further substantial increase in both credit and debit card volumes. E-Clear (UK) PLC, not only offers secure and reliable credit and debit card payment services, but also provides the risk management solutions that give businesses the cutting-edge technology they need, to secure and maintain successful growth and development.
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John Davies is a Senior Copywriter for E-Clear (UK) PLC Company. For further information please click on: Online Payment Solutions - E-Clear or call us now on: +44 (0) 20 7887 6216 where our friendly team will be more than happy to assist you with your enquiry.
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