Let us face it, we are a modern generation of lazy people. We want comfort and convenience. And why shouldn’t we? We are just one tap away from the lipstick we wish to buy, access that data, the bill we want to pay, etc. In this modern time, e-commerce is gaining more and more popularity every day. The downside of this is the increasing incidents of scammers out there. Credit and debit card scams have become more and more common. In 2019, credit card fraud cases reached 44.7%. In 2020, there were 300 million cases of credit and debit card frauds worldwide.
Credit and debit card frauds are the reason why numerous customers hesitate to shop online. If you are a consumer, you would want the insurance of a safe payment method. Would you shop at a business or a service that ensures a safe and secure payment method?
What Is The Safest Payment Method?
There are several payment options available such as cash, cheques, credit cards, debit cards, bank transfers, etc. The safest option that is used in most companies and now gaining popularity at an individual level is the Debit Card Service. But, what is a debit card service?
Direct debit authorizes a transaction or a deduction from your bank account to the organization, business, company, or individual that is due. In other words, direct debit deducts a due amount from your account and transfers it to a receiver.
This payment is authorized by the consumer. You will be notified 10 days prior to the transaction. Once authorized, the company automatically deducts the amount in due time. These transactions are controlled and supervised by the automated system of the Bank Automated Clearing System. There are many companies that provide direct debit services such as Payleadr. Direct debit services are mostly used for regular payments such as rent, installments, leases, etc.
Why Do I Need a Safe Payment Method?
A safe payment method is necessary for all of us, as consumers and as retailers. Trust is very important in business and customer-retailer business. As people already are hesitant to give their credit card information for online transactions or payments, you as a retailer already lose potential customers. If you provide a safe payment method, customers will automatically trust your business and will readily become permanent and regular customers.
As a consumer, we can not afford to lose a huge sum of our hard-earned money in credit and debit card scams. For example, while paying rent, we cannot afford to lose our money in some transaction or transfer mishap. This would truly disrupt your regular monthly budget. Such mishaps are a heavy dent in our budgets. Who wants that?
A safe payment method such as the direct debit transfer takes care of all that. You do not have to worry about being late either. Direct debit payments ensure timely payments. Additionally, direct debit transactions are much cheaper than card transfers. The regular card transfer varies from 3 to 5% while the direct debit only requires 1% interest. Might seem like a small difference to you right now but on big payments and transactions, it can make a huge difference. Therefore, choose the option that saves time and money both. What else can you ask for?