Review financial security when expanding services

Adding to an existing range of products or services is a natural progression for many businesses looking to gain an increase in market share.

The opportunities this kind of growth pattern provides can help to boost an organisation’s brand presence, in addition to delivering an increase in profit margins.However, the new range of goods or solutions also brings with it the need to ensure that a firm’s payment systems are up to scratch.The problem is that any big branding exercise makes a company vulnerable in the eyes of its stakeholders, many of whom will be relying on the business’ reputation as an indicator of quality.

If their confidence is shaken in any way, this could translate to a slowdown in market interest as consumers take their business elsewhere.

In particular, the frameworks set out by the council members Payment Card Industry (PCI) helps to shield both enterprises and their customers from fraudulent activities.Ensuring that the systems in place at a company meet PCI compliance standards can help to encourage safe spending, while at the same time improving the firm’s image as a proactive and driven organisation.


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