“Hack” and “data breach” are scary words to customers. It threatens their sense of security in shopping and threatens their very identity. Bottom line – no one wants to shop with a retailer perceived to have lax (or no) security measures in place. This is especially true for online merchants that have the added risk of card-not-present transactions. Using multi-factor authentication as well as other prescribed security measures can help demonstrate to consumers that you’re secure and that their sensitive data is protected.
Consider contactless for loyalty
Contactless transactions using NFC technology offer cardholders a streamlined experience for checkout. When customers can use a smartphone or other contactless-enabled payment device to checkout, there is a perceived (and actual) reduced transaction time. Merchants can also tie in rewards programs to push payment via this method. Customers earn points that can be redeemed for discounts and free products each time they use the contactless payment method, making it even more appealing and improving customer loyalty.