If you have an e-commerce business, you’ll need to have a way to accept online returns. However, accepting and processing returns can be tricky, so it’s essential to know some tips and tricks and follow proven guidelines to get the best outcome for your and your customers. Consider following these rules for online returns and […]
Preparing Your Online Business for Risk
There are several risks associated with having an online business. From hackers to fraud, there are many points to consider and adequately prepare for when these events occur. Consider having a solid strategy or these guidelines in place to manage risk effectively. Consumer Behaviors Consumers are diverse and come with their own sets of risks for […]
Different Types of Refund Fraud and How to Prevent Them
Simply put, refund fraud happens when a customer seeks a refund for goods they have purchased and received – but retains rather than returning the goods. Many businesses are apt to regard this kind of activity by “bad actors” – but let’s call them fraudsters, for that is what they are – as just an inevitable cost […]
Risk management for credit card processing merchants
Accepting credit cards benefits both merchants and their customers. It provides convenience for those who want your products and services while also linking your business to the financial institutions, networks, and payment processors that make the process possible. Managing Credit Card Processing Risk While credit and debit cards make up nearly 50 percent of the […]
How to make ‘card on file’ work for you
Card on file transactions – enabled by merchants’ retention of customers’ card details following a purchase – have been standard practice in e-commerce for many years. It’s how subscription and recurring payment business models operate. It’s how Amazon’s popular “buy with one click” option works. And it’s the only way in which digital wallets such […]
Cash Discount Programs a Good Fit For Business
Offering customers a discount to pay with cash can be a smart move for some businesses – not least because of the savings in card processing fees. But it’s not a model that works for everyone. And for all merchants, there’s a right and a wrong way to go about it. How Not to Reward […]
6 Hidden Costs of Chargebacks
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 […]