Integrating Verification Tools Into Online Business
If a business isn’t operating online today, then it’s likely reaching a very niche market and missing out on attracting a large customer base. The growing demand for online products and services, not to mention the convenience on offer for businesses, means that many companies have realized the benefits of having an online presence.
The emergence of the Internet was clearly the catalyst for this development, and today, there are several factors that make it essential for companies to be online, including:
- – Smartphone capabilities, which ensure that many people are online virtually all the time.
- – Improved download and connectivity speeds.
- – Improved safety and security measures, which allows business to be carried out effectively.
Another factor that plays an important role in encouraging businesses to operate online is increased consumer confidence in spending money and sending personal details. If consumer confidence in online transactions did not exist, then the World Wide Web would merely be a place of information gathering and social networking as opposed to the business hub that it is today.
Because it has become easier for consumers to buy products and services online, crucial steps have been taken to increase their security through the implementation of verification tools. Your business can benefit greatly from integrating one or more of the following verification methods into your online marketplace.
A simple, yet highly effective way to add verification for online transactions is to request Card Verification Value (CVV) information. This is the last three numbers from the back of a credit or debit card, and it provides an additional security step that can reduce consumer fraud. If someone has stolen a customer’s card details, but not the card itself, then this step can reduce the likelihood of fraudulent activity taking place.
When buying tickets from a site such as Ticketmaster, there is a need for customers to prove that they are real people and not robots. This involves ticking boxes and providing an answer to a security question. If you integrate security questions into your online platform, then keep in mind that complicated processes have not always been greeted in a favorable manner. People have complained about the answers to some of these questions not being straightforward and have blamed the security measure for preventing ticket purchases.
It is important for many businesses to make people accountable for a decision or action online. An electronic signature can make all the difference when it comes to finalizing agreements or assigning certain responsibilities. In the past, there was a need for an accurate, reliable and secure way for people to apply their signatures online. The work undertaken by the company Docusign, driven forward by noted professionals such as Keith Krach, has transformed the way that online agreements and transactions are carried out.
As users become savvier about online technology, and fraudsters push for new ways to make money, businesses and industries need to remain at the forefront of providing security measures. Implementing verification tools gives your business a degree of trustworthiness, which is essential for retaining customers and clients.