Entrepreneurs who’re concerned about the reliability and stability of their businesses will logically put up backup plans to support their important systems. This is obviously because industrial accidents, cyber attacks and blackouts are unpredictable and given no matter how cautious we are. So why not be just as defensive of your interests in your online or physical-location business? Here are the consequences of lacking a backup plan;
Disruption of normal operations
Customers hate the idea of waiting in lines only to realize that you’re shop’s credit card device isn’t operational? Not only because they may not complete the purchase for lack of cash but also because they spend more paying in cash, more so if it’s a costly item. Such inconveniencies will only leave your business aggravated and make you lose revenue.
If the above scenario occurs at your premise, chances are that the customer is more likely to shift on to your counterpart next time he/she needs to shop. Converting prospects to clients is a difficult task, why then would you allow trusted customers easily slip your fingers?
Having a backup payment system makes you as good as perfect; prospects may not even notice any interruptions, probably transforming into loyal customer.
Ways to Protect Your Company
So what’s next now that you know the disadvantages of operating minus a backup plan? First, in a web-merchant review Inquire from your credit processor the full details of the mechanisms put in place to protect your system in case of a crash. If the response is dissatisfying, consider discussing with a next provider as an emergency backup.
If you feel the DSL or cable web connections may break down, go for cellular broadband backing. But be sure to use it particularly for key functions like card processing because of the …Why Your Payment Processing Needs a Backup Plan Read More