If you are a high-risk merchant, chances are you may have been turned away by traditional banks when applying for a merchant account. Your particular business may have been categorized as high-risk due to having higher incidences of fraud and chargebacks. But in order for your business to remain solvent, you must be able to process credit and debit card...
In March, 2021, the CEOs of Discover Financial Services, American Express, Mastercard, Visa, FIS, Global Payments, and Fiserv joined forces to launch the Payments Leadership Council or (PLC). They have formed an alliance in order to “promote effective public policies” in response to current and upcoming challenges in the US economy. The joint statement of all CEOs was as follows:...
One sure-fire way for merchants to boost their revenue is to improve their current payment processing solutions. Merchants must know that payments, by their nature, are very much local. Every country has its own language, culture, and technology that will inevitably dictate how payments are processed. Therefore, a key strategy to maximize conversions and approvals, as well as tapping into...
Following the devastating financial crisis, risk-averse banks responded by backing away from offering all forms of consumer lending, particularly to “mass-market” and budding middle-class customers. However, providing merchant credit, which involves lending to consumers via retailers is even more critical for financial institutions, retailers, and their customers. More importantly, both retailers and lenders have discovered that having robust credit capabilities...
As the payments world can be incredibly complex and eCommerce on a global scale continues to expand, customers are demanding straightforwardness, openness, and standardization with their payments. This can all be in the form of paying with a credit card at the point of sale, performing an international transfer, or making a transfer via mobile application. Meanwhile, small to medium-sized...
When it comes to B2B payments, having just one payment rail will not suffice in resolving every stage of friction. It has been proven through research that adopting multiple rails of payments can actually spur revenue. Payment rail innovation is being seen in both FinTech suppliers and corporates to alleviate friction in employee payroll, invoice payments, and card acceptance. Multiple...
On July 20, 2020, The Strawhecker Group (TSG) and Visa Consulting and Analytics (VCA), joined forces to conduct a survey of 569 U.S. consumers to examine Visa’s spend data. The primary objective was to comprehend how the COVID-19 pandemic has affected consumer behavior, method of payment, and how habits may change post-pandemic. The “Key Takeaways” that were highlighted in the...
Businesses are different. To choose the best payment processing pricing structure for your own business, you should do research and see how different billing systems work. In the article below, you can find several options to go for the most suitable one for your business. Payment Processing Pricing Structures to Choose From Wrong credit card processing service will make you...
A payment processor you choose for your eCommerce business plays a vitally important role. Today’s processors offer various merchant processing capabilities, so you should research well to find the best fit for your business. This article will help you choose a payment processor to grow your business with success. How to Choose a Payment Processor When choosing a payment processor...
Collecting credit and debit card payments from clients is an excellent way to increase your customer base, but related costs can threaten to shake your bottom line. Credit card processing rates usually vary from one payment enabler to the next which is why you must dig deep. A high-risk classification doubles the trouble for you unless you partner with a...
