A high-risk merchant account is what makes it possible for high-risk merchants to confidently accept both credit and debit card payments, without fear of excess chargebacks and fraud. What Is A High-Risk Merchant? Before we dive into what a high-risk merchant account is, let’s explore what a high-risk merchant is. A high-risk merchant is one that has been categorized as...
PayPal was launched in 1998 by a group that consisted of Elon Musk and Peter Thiel. It had its beginnings as a solution to pay for products online when most of the population was still purchasing its goods and services by paper check or cash. Fast forward to 2021, and the company had amassed over 400 million users. Its famous...
Thanks to the massive surge of e-Commerce, the payment landscape has answered the call to provide the industry with safe, effective, and seamless payment solutions for a more demanding customer base. Current trends show that e-Commerce sales at the global level are expected to reach $4.2 billion. The pressure is on for e-Commerce business owners to keep pace with this...
Online and mobile payments are a growing trend that will only continue to increase as customers get more comfortable with technology. Increasingly, customers are relying on their smartphones to pay their bills, pay for services, and pay for products. One of the biggest reasons is convenience. According to eMarketer, it is projected that mobile payments will increase to $130.3 billion...
There are currently 2.1 million online retailers in the U.S. and 7.9 million in the world. Without a doubt, building an online store is an exciting undertaking. It’s a great opportunity to expand your reach, gain new audiences, and further research and develop your product or services. The key is to make sure you partner with the right providers and...
In spite of the strict regulations and lockdowns brought on by COVID-19, eCommerce has experienced startling growth. According to the United Nations Conference on Trade and Development, there was an increase in online retail sales’ share of total retail sales from 16% to 19% in 2020. Global sales shot up to $26.7 trillion in 2019, which was an increase of...
While many are looking forward to the holidays, taking a much-needed respite from the woes of the world, scammers are gearing up for a new holiday season of swindling. This year, the Better Business Bureau (BBB) has published what they call their “Naughty List” with the top scams that can catch shoppers off guard this holiday season. Social media platforms...
When a business has been determined to be high risk, it means that credit card processors have deemed this business prone to a higher than normal rate of chargebacks and an elevated risk for financial failure. Payment processing is also at a higher risk, especially in the e-Commerce space. Merchants have assumed this risk, however, payment processors and acquirers stand...
Merchants’ “lack of routing choice” in e-Commerce costs them “billions of dollars each year”, according to the Merchants Payment Coalition (MPC). The MPC is a trade group that represents gasoline, supermarket, convenience store, as well as other retail chains. Larger merchants have been pressing for the Fed to make much-needed changes to the current rules that govern transaction routing and...
Cart abandonment is a serious problem for online retailers. There are literally hundreds of studies surrounding cart abandonment and its statistics. Some have reported that cart abandonment was as high as 80% while others have reported being as low as 55%. Barilliance conducted a study and found that the average cart abandonment rate to be 77.24% in 2016 and it...
