5 Digital Payment Benefits Infographic
The use of electronic financial transactions has become increasingly popular in recent times. Whether you’re purchasing an item or paying for a service, you don’t need to carry cash in your wallet to access your funds, thus reducing the risk of immediate loss from pickpocketing or mugging. Credit and debit cards are more convenient, take up less space, and are secured with encryption, making them a preferred choice of payment method for most businesses. Accounting firms should also consider implementing client management software that offers secure payment options to protect their client’s financial information and provide them with peace of mind. If you’re wondering whether secure payments are really necessary, here are five reasons why they can be quite beneficial:

1. Digital Payments Provide Options

Many of your clients will prefer to use bank products to pay for your services. This is a convenient option for those who cannot afford to pay out of pocket and would like to pay through their tax return. Alternatively, they may choose to pay with a credit or debit card. It is becoming increasingly rare for people to pay their bills in cash.

2. Digital Payments Increase Payment Speed

Instead of waiting for a check to clear or spending time on dealing with collections, you can receive your payment within 24 hours by offering bank products and secure digital payments. This way, you won’t have to send invoices or make reminder calls to clients.

3. You Have Easy Payment Integration

Payment systems can be integrated with client management software for small businesses. This integration allows for automatic updating of invoices, which helps to prevent unnecessary automated billing. It also makes balancing the books faster and easier. By limiting the opportunity for interruptions in the process, a seamless workflow is created for the best possible customer experience.

4. Digital Payments Help Security

Thanks to specialized accounting client management software and secure digital payment systems’ encryption technology, you and your clients can rest assured that your data and financial transactions are safe and secure. These secure payment companies are continuously updating their software with the latest defenses against emerging cyber threats, allowing them to stay one step ahead of their criminal counterparts.

5. Digital Payments Ensure Compliance

To comply with the Payment Card Industry (PCI) security standards, you must meet or exceed them. Failure to do so may result in penalties and a tarnished reputation for your business. To ensure that your business stays protected against fraud and theft, opting for an integrated and encrypted system is recommended. Look for the highest designation possible, which is a PCI-DSS Level 1 certified or compliant system to ensure the smooth running of your business.

In today’s fast-paced world, keeping up with the latest technology is essential for both personal and professional growth. Though it may be tempting to stick to traditional payment methods, electronic payments have been around for quite some time now. By integrating secure digital payment options with accounting firm practice management software, you can ensure a safe and efficient business operation. This tax season, let technology help ease your workload and streamline your business processes.

source: https://proclient.com/why-secure-digital-payments-are-a-benefit-this-tax-season/


Download this infographic.

Embed Our Infographic On Your Site!