Chargebacks are uninterestingly becoming a part of payment system. This is not good. Although, chargebacks can be unavoidable at times but it has other end too. Consumers claim that 67% such incidences could have been avoidable. But, is it really that easy? So, we need to dig deep to find the answers. Chargebacks happening again
Cashless society- the name describes it all. A cashless society describes a range where financial transactions are not conducted with money. Not in the exact form of physical banknotes or coins. Rather through the transfer of digital information between the transacting parties. Therefore, cashless society opens up endless opportunity for merchants like you. Especially, ones who thrive to grow their business.
Where is the payment industry leading too? Mostly, the question arises because of the cashless society we are moving into. This industry is evolving really fast. Therefore it is getting hard for merchants to cope up. It is confusing to realise what will really work out in the near future. Even worse, the method might
MOTO - Mail Order/Telephone Order payments are gaining more popularity. Should we take it a step further? That is, should MOTO payments be encouraged more? Since, the MOTO related frauds are a concern we have to be careful. Then again, we have to do our own cost-benefit analysis. Risks are an inevitable part of business.
The "moto" of the MOTO fraud are not so wise. Like any other financial fraud, this can bring you tons of hassles. Occasionally, this may even lead to financial loss. Nevertheless, this is true for both the merchant and the buyer. Hence, it surely is a matter of concern. Mail Order/ Telephone Order (MOTO) processing
VMPI- Visa Merchant Purchase Inquiry, will make business smoother and faster. How? VMPI makes sure that disputes are settled before facing a chargeback. Hence, payments received through Visa card as now less troubling. Also, this is part of the new regulations by Visa which helps make your business transactions more transparent. Therefore, your relations with
3D Secure (Three Domain Secure) is an XML-based protocol designed to be an additional security layer for online credit and debit card transactions. Also known as 'Payer Authentication', this service provides fraud liability shift and reduced interchange. As a result, this helps merchants to prevent fraud in transactions. Visa and MasterCard initiated this essential security