MasterCard announced new guidelines to stop merchants that hoodwink consumers into signing up for paid subscriptions by luring them in with free trials. The goal is to make the process of cancelling subscriptions for those that started as free trials simpler. Understanding the New Guidelines Starting April 12, merchants that accept MasterCard must get the cardholder’s approval at the end...
Law enforcement authorities go on warning that continuity billing scams are increasing and it’s critical to take the necessary measures to avoid being victimized. Where can continuity/subscription merchants find the most reliable merchant services for their business? Just read below to know more on the topic. Continuity Billing Scams: How to Avoid Them With eCommerce being on the rise all...
In the modern world of technology, the payments industry provides merchants with various striking opportunities that can incredibly help them with payment processing. Recurring billing is one of them. This article will tell you about recurring billing, as well as how you can open a recurring credit card billing merchant account fast and easily. What Is Recurring Credit Card Billing?...
According to the 2016 US Consumer Payment Study by a US credit card processor, merchant acquirer and bank credit card issuer, 23% of credit card users and 33% of debit card users choose to pay with recurring billing. Recurring Billing Recurring bills play an important role in of our lives. This refers to both business and personal finances. Consumers are...
To start with, Negative Option Billing is a process where a merchant puts a certain product or service on free/subsidized offer so that customers can try the product/service for a small fee before committing to purchase. Before they gain access to the free sample, the merchant will record the customer’s credit card information. After the trial period expires, the customer...
As major credit card companies make known their stand against Negative Billing Options, merchants have even more reason to turn to other payment providers for alternative solutions. Recently, MasterCard and Visa said that they would stop doing business with any merchant who engages in Negative Options Billing. In fact, MasterCard went ahead to stress that it would close the accounts...
According to a leading credit card processor, retailers can turn millennials into loyal customers by offering products and services via subscription. Compared to Baby Boomers (born between 1946 and 1964) and Gen Xers (birth years ranging from the early-to-mid 1960s and ending birth years ranging from the late 1970s to early 1980s) Millenials, also known as Generation Y or the...
Automated recurring credit card systems are vital for modern merchant payment processing. They are convenient for customers and offer such benefits to merchants as electronic billing to make the payment process easier, cut costs and increase cash flow. Recurring Credit Card Processing Recurring credit card processing provides advantages for nearly all types of businesses. Customers get an opportunity to put...
Subscriptions are everywhere. Be it a magazine, a supplement, or a makeup subscription box, the world is full of subscriptions whether we realize it or not. When you are starting any type of subscription-based business, it can be hard to find a merchant account. This is because these accounts are considered “high risk” – and who wants to deal with...
