Cloud-Based Payment System: Why Should you Consider It

The “Cloud” has a range of benefits for various aspects of IT including technology and payment systems. Cloud computing, in its basic form, is simply a method which lets you store and access your data over the internet, rather than using physical hard drives. This means you don’t have to carry with you a hard drive everywhere you go to.

This method has a wide range of benefits for a person who accepts payments, not only in terms of customer experience, but also in terms of data security. May be you are asking yourself what these benefits are. These are the main ones:

Great flexibility

Cloud-based payment system offers you much more flexibility as compared to traditional point-of-sale technology. Many customers today expect easy-to-use technology which is responsive and that which makes their lives easier. This is what cloud-based payment system promises.

No one wants to carry cash or ATM card anymore. Cloud-based systems can allow people to make payments through bank transactions or from mobile devices over the internet. It also helps to save paper. Besides, it also helps with record-keeping because receipts from every transaction can be sent to a customer’s email account or device directly. 

Cloud-based payments are also able to work with traditional EFTPOS Systems side by side. This is an added flexibility as it allows integration with various services like Apple Pay.

Easier data integration

Cloud-based payment systems allow for easier integration with management and accounting software, and provide direct access to important data at any time of day or night. Most of these systems can give you access through mobile devices to data reports and live sales. You will also be able to place orders and update prices remotely.

Improve speed with which new products gets to the market

The benefit of data integration further extends to increasing the speed to which new products are brought to the market. A modern integrated cloud payment system like that of ex-load.com can integrate with FCCurve and NetSuite among other cloud-based ERPs, as well as with the management and accounting software. That way, the management of the product details, inventory, and supply chain becomes more efficient especially when delivering new products to the market.

More secure

Some of the most important topics regarding payment systems are data security and compliance with the PCI DSS (Payment Card Industry Security Standard). In regards to using internet-based payments, the biggest concern is usually security.

While cloud-based systems have not been around for many decades, they are usually more secure as compared to data stored on the physical systems. This is because cloud-based payment system providers have put a lot of resources to provide robust security measures that ensure they are being PCI DSS compliant.

Final thoughts

Ex-Load is a cloud service provider that provides cloud-based payment systems to various companies. We are living in a digital era where things are done in a flash without having to carry around devices. This includes payments. If you have a company and you want to increase your customer experience and also ensure that the monies you are receiving from your customers are safe, then you should contact Ex-Load today.

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