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 […]
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 […]
The Buy Now Pay Later (BNPL) movement has skyrocketed in recent years. The Covid-19 pandemic and subsequent high inflation have meant a tough cash squeeze for many customers. So it’s not surprising that Buy Now Pay Later has recently expanded dramatically. Of course, it’s always been possible for many consumers to use credit cards in this […]
There’s no doubt that fraud and chargebacks are becoming a major problem for many businesses. In the digital age, digital fraud protection is a must. It’s all too tempting for merchants to believe that a one-stop digital fix can provide a permanent solution. But the unfortunate truth is that fraudsters, friendly or otherwise, are not going away anytime […]
“I Didn’t Order That, and I’ve Never Heard of You!” Customer Karen Despite the industry’s best efforts to tackle it, payment card fraud remains a serious and increasing problem. A study by J. P. Morgan, for example, reported that a staggering 86% of consumers had been the victim of some kind of payment fraud in 2020. And with […]
Buy Now Pay Later (BNPL) is generating a lot of buzz at the moment, but it’s really just a reinvention of the old-fashioned installment plan (AKA layaway) — a method of doing business that has been with us since the nineteenth century, if not even earlier. As a way of deferring the pain of parting […]
In recent years you’ve probably become all too familiar with the threat posed to your business by various malicious bots. Card testing, data theft, and the sending of spam messages are just a few of the ways in which bad actors can use bots to interfere with your operations. But unfortunately, there’s now another relatively […]
Every merchant knows that the dramatic growth in digital commerce has brought in its wake an equally rapid surge in the prevalence of card not present (CNP) payment fraud. The Crippling Costs of Chargebacks and Friendly Fraud They know, too, that the process of disputing chargebacks and trying to prevent so-called “friendly” fraud is difficult, time-consuming, and […]
Disputed transactions – often leading to costly and time-consuming chargebacks – are a significant problem for merchants in all sectors of business. The causes are various, and some disputes are tough to prevent or resolve. But a surprisingly large number are due simply to customers failing to recognize legitimate transactions that appear on their credit or debit […]
Sadly, customer and third-party fraud is something that all businesses have to contend with. And despite huge advances in prevention technology, it seems that bad actors are often still a step ahead of honest merchants. But as surprising as it may seem, industry studies suggest that many businesses do not even know the types of […]