People in the payments industry like talking about ‘the next big thing.’ However, with debit cards remaining the most popular payment method with half of all payments in the UK being made using debit cards. Rob Crutchington from Encoded shares his top tips for a first-class payment experience, whatever the payment method or sales channel.
Since then, there continues to be many reasons why businesses still need or choose to rely on MOTO transactions as an important part of their payment ecosystem; whether it is to cater for a specific demographic, to collect an immediate payment whilst an agent is engaged with the customer, or to provide a fall-back option. And as consumers rely increasingly on the Internet and cards to go shopping, pay their bills, and manage accounts, telephone card processing is here to stay. Latest figures from the British Retail Consortium reveal that cards remained overwhelmingly the preferred method of payment for consumers in 2022 accounting for around 85% of retail spending while UK Finance predicts debit card payments will soar to over 27 billion in the next decade.
With these statistics in mind, don’t let your MOTO channel become a second thought. Follow this three-step methodology to guarantee a secure, frictionless payment experience for everyone:
1. Blend eCom and MOTO offerings
Modern gateways, like Encoded, can now offer eCom levels of security, within your MOTO processing environment. Next-generation 3DS offers two-factor authentication in the form of 3RI (Requestor Initiated) transactions. This gives Merchants the choice of offering eCom and MOTO channels to their customers regardless of how they interact with the cardholder. Offering alternative payment methods (APMs) like Google or Apple Pay and Open Banking, think about deploying modern Payment Gateway Services and the latest Payment Orchestration solutions to improve security and customer experience. Thinking ‘digital first’ within a traditional MOTO setting can drastically reduce the security risk of MOTO payments while cutting costs from payment authorisation and transaction routing.
2. Fraud prevention is definitely better than cure
3. Maintain PCI DSS compliance at all times
To find out how Encoded can simplify today’s complex payment challenges and improve the customer experience, take a look at our payment products including Payment Gateway Services and Payment Orchestration.
