Starting a company - particularly one of the eCommerce nature - is an exciting venture. Website launch day is filled with optimism and every startup owner thinks they will be the future leader in their respective industry. However, starting up an eCommerce business requires more than building a website and shouting "come buy from me." There is much to consider during the setup process.
Earlier this month, the Better Business Bureau (BBB) listed five steps for eCommerce entrepreneurs to follow as they launch their companies. Given the source, these are incredibly important and cannot be downplayed by any individual who has aspirations of running a successful business. While proper planning, design and marketing - all mentioned in the list - are certainly important, perhaps the most crucial step mentioned pertains to payment setup.
"Before you start taking credit card payments, you need to make sure you are Payment Card Industry Data Security Standard (PCI DSS) compliant," the article said. "This means you are able to protect your customers' credit card information. Online merchants are prime targets for data thieves. If data is stolen and it is your fault, you can incur fines or penalties and may even lose your right to accept credit card payments."
Failing to listen to the advice of the BBB could put a company out of commission before it even gets going. This blog has stressed the importance of PCI compliance in the past because, in addition to the crucial nature of preserving customer data, failure to do so could violate rules and regulations and seriously damage a company's long-term prospects.
Working with a payment solutions provider will help vendors obtain the tools they need to preserve information and maintain their PCI compliance.