Payment industry sources estimate that for every $100 in chargebacks, the true cost to the merchant may be anywhere between $240 and more than $300. Much of this staggering figure is accounted for by easy to identify direct costs such as lost revenues and profits, fees, and higher transaction charges. But chargebacks also give rise […]
How to Use Delivery Confirmation to Reduce Chargebacks
Keeping chargeback costs to a minimum is essential to the bottom line of your business. And it can be a significant challenge to stay ahead of the numerous causes of chargebacks and their associated Reason Codes. But one simple step that can help is to use one or more of the many systems of delivery […]
The Best Way to Handle Payment Reversals (Not Just Chargebacks)
As a merchant, you’re naturally concerned about the number of chargebacks you incur. But there are many payment reversals that don’t result in a chargeback that can also be very time-consuming and damaging to the reputation of your business. So, your goal must always be to minimize the number of transactions that result in a […]
Taking payments on your e-commerce site: What you need to know
Having an e-commerce business means that owners need to make the best decisions for all aspects of the business to succeed. When it comes to accepting certain credit cards for payments, thought and consideration is essential to ensuring you attract and keep customers. You must appeal to all customers with the most common and widely […]
Which Credit Cards are Essential for E-commerce?
Running an e-commerce business has plenty of challenges for the site owners, but accepting essential payments shouldn’t be one. There are a few credit card types that each e-commerce site should always accept. This capability ensures that most visitors to your site can quickly complete payments without a hassle. Mastercard and Visa Credit Cards or […]
Authorization Reversals Help Avoid Chargebacks
Unfortunately, most merchants are only too well aware of the costs and inconvenience associated with chargebacks. But not too many are familiar with the authorization reversal. Chargebacks are one way in which payments may be reversed, but authorization reversals are a cheaper alternative. What is an Authorization Reversal? Authorization reversals happen when the funds from […]
Visa Resolve Online: How to Slash Chargeback Rates
Recent years have seen a worrying spike in the number of chargebacks filed by customers. That’s something Visa Resolve Online (VROL) hopes to stop. The surge has prompted the major card networks, such as Visa, to take steps to try to mitigate the problem by streamlining the dispute process using new or updated systems and […]
Reduce Customer Returns with These Simple Measures
All merchants want to reduce customer returns. A certain proportion of product returns – or refund requests in the case of digital downloads – is for most merchants just one more cost of doing business. But the cost of such returns – particularly for online sellers – is growing dramatically. In fact, 2020 saw the […]
Combat Chargeback Fraud as E-Commerce Surges in Popularity
It’s no secret that e-commerce has expanded rapidly in the last few years, which means the time to combat chargeback fraud is now. The e-commerce trend has only been accelerated by the impact of the COVID-19 pandemic. Many of even the most traditionally minded established bricks and mortar businesses have been forced to develop an online presence […]
Maximize Your Profitability with Subscription Billing
It’s not suitable for every type of business, but for those merchants who can implement it the subscription billing model is a huge and growing opportunity. Business analysts now estimate that this sector is growing at almost 9% a year, and is likely to hit a global turnover of some $7.5 within the next five […]