In times like these, the last thing you want to do is worry about payments from your customers. In this article, Igal Rotem, CEO of Credorax, explains how remote operations and flexibility are critical for 5*9s – a must for any eCommerce business that needs some peace of mind.
You don’t need me to tell you that the global pandemic has changed life as we know it.
Lockdown measures have forced offices and other places of business to close.
Billions of employees worldwide have either been furloughed or sent to work from home indefinitely.
Global markets have been turned upside down. And in the middle of all this, we’re all figuring out how to run business as usual.
The show must go on, as they say. And, in a crisis like the one we’re going through right now, being able to continue processing transactions is critical.
When extreme, unexpected scenarios get in the way of the usual day-to-day, we believe there are three key things any payment platform should possess in order to stay resilient and keep transactions flowing smoothly:
1 – Uptime, all the time
Many businesses are relying on their eCommerce revenue right now – being unable to take payment, even for just a minute, can have painful consequences.
This is why it’s crucial to use a payments platform based on next gen technology and designed to deliver continuous, uninterrupted service. Key to this is a Service Level Agreement of five nines. Five nines as a concept originates from telecommunications and similar kinds of mission critical functions – the “lifeline” systems, if you will.
I’d argue that payments processing is a lifeline – especially as current lockdown measures force customers online and place the focus squarely on eCommerce revenue. This is why you need a payments platform with no loss of transactions or disruptions, no single point of failure, and two active, fully independent and redundant co-locations syncing with one another instantaneously.
With these failsafe mechanisms in place, you can keep taking payments, whatever happens.
2 – Built for remote operation
When lockdown measures force your entire workforce to work from home, remote operation becomes crucial to ongoing, uninterrupted payment processing.
Monitoring and control systems should be remote from the get-go, so in the event of a situation like the coronavirus pandemic, the system can be operated and maintained remotely, without any impact on service level delivery. Complete unattended redundancy is a big part of this – you need your failsafe mechanisms to operate without someone being physically present.
This means that extreme situations driving people into their homes will have no material impact on the mission-critical functions that happen day in, day out, and the system can work exactly as it would in pre-crisis conditions.
3 – Flexibility to adapt to changing market conditions
We are seeing some unexpected shifts in consumer behaviour as a result of the pandemic. There have been spikes in certain types of eCommerce transactions, especially for businesses that offer a delivery service. Just think about how many times you’ve used takeaway apps in the past few weeks!
In the face of these kinds of radical changes in market demands, you need a flexible payments platform built on “scale-out” architecture, so that extra volume-processing capacity can be quickly added, with minimal effort. If you’re seeing sudden increased demand for your products, the last thing you want is for your payment platform to buckle under the pressure, causing you to miss out on those extra sales.
Credorax can help you prepare for any situation
Coronavirus is just one kind of crisis, and we’ll no doubt see others in our lifetime. The trick is to be prepared, and from an eCommerce perspective that means ensuring that your payment processing platform is resilient enough to cope with any situation.
Even if you’re connected to another business as your main payment processor, it’s worth thinking of Credorax as your failsafe, your fallback. If anything happens to your main processor, you can trust in our platform to keep your business going without any interruptions.
Connecting to our system improves your ability to maintain your business in a crisis, without interruption, and to maintain a high level of service for your customers. In any situation, whatever happens, with Credorax you have a failsafe channel you can rely on to make sure you’re still processing transactions and earning money.
Read more about keeping your business immune during times of change here.
To find out how Credorax’s digital payment solutions can help your online business, contact us at: firstname.lastname@example.org