Today’s guest blog post is written by Alex Pagano, Documentation Supervisor, PatronManager.
Hello, hi everyone, thanks for coming to tonight’s article. Looks like we have a great crowd, so let’s jump right in — show of hands, who handles credit card information on a regular basis? Let’s see…. Mm-hmm, that’s just about everybody in the room. OK, and I think I know the answer to this one, but just to check — how many of you feel like you could run your organization if you suddenly couldn’t accept credit cards tomorrow? Yeah, I’m not sure anybody could; my hand is down, too.
The fact is, credit card information is an integral part of how we do business. In the 2016 U.S. Consumer Payment Study by TSYS, 75% of consumers said they preferred to pay with plastic, and only 11% preferred to pay with cash.1 Think about the ways patrons pay you with credit or debit cards: recurring donations, mail-in subscription orders, online donations and ticket orders, walk-up sales the night of the show… can you imagine not being able to utilize these revenue methods?
And yet, many organizations are a whole lot closer to this nightmare scenario than they realize. Plenty of risks come with accepting credit card payments — specifically to organizations without the proper policy and technology solutions in place to mitigate those risks.Read the Article