Keeping transactions safe and building customer's trust

Keeping transactions safe and building customer's trust

The importance of security

Keeping transactions safe and building customer's trust

The arrival of payment systems that function seamlessly with mobile devices, in-app, or online has encouraged the financial sector to innovate across the payments journey. But having accelerated the movement of even the most traditional of shoppers to digital and mobile apps over the past two years, building trust throughout the payments part of the buying journey is now key for banks.

The payment chain

Payment gateways

With online sales now making up 34% of retail spending, it is important for businesses to have a payment gateway. 

A payment gateway is crucial in the payment chain and authorises credit card or direct payments for a retailer. Once an order takes place, the integrated gateway is there to deliver the client’s sensitive information securely, encrypting the data it in a way that banking systems can use. The gateway can be provided by a bank to its customers or a specialised payments company as a separate service.

The gateway will use built-in security protocols to check for fraud and available balance etc. This is known as TLS (Transport Layer Security) and, although there are a lot of steps involved, the process should be quick and messages to the customer should reassure them in the security of the system.

To help keep transactions safe and build customer trust, a good payment gateway should also:

According to US research firm Gartner, 64% of consumers believe that customer experience is now more important than price when choosing a brand or a store. The right brand positioning, no redirects and a simple interface will provide a smoother user journey that keeps your customers on your site and see their purchase through.

Using personalisation and messaging throughout every stage of the payment journey, will help the customer feel a connection and reassurance. This could be the difference between a satisfactory shopping experience and a genuinely great one.


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