10 Best Practices for Chargeback Management
Chargebacks cost U.S. merchants billions in lost revenue and fees each year. But with the right strategies, you can reduce disputes, protect your revenue, and maintain customer trust. Here’s a quick breakdown of the 10 best practices for managing chargebacks effectively: Improve Customer Support: Offer accessible, responsive, and well-trained support to resolve issues before they […]
Compliance Training Trends for High-Risk Merchants 2025
High-risk merchants face stricter regulations and rising fraud risks in 2025. To stay compliant and reduce penalties, here’s what you need to know: New Visa Rules: Chargeback thresholds drop to 1.5% in April 2025 and 0.9% in January 2026. Privacy Laws: 75% of global personal data is now protected under modern laws, with new state […]
How to Spot Merchant Account Fraud
Merchant account fraud is costing businesses billions every year. Fraudsters use tactics like bust-out scams, transaction laundering, and micro-transaction testing to exploit payment systems. In 2023 alone, merchants lost $20 billion to chargeback fraud, and this number is expected to hit $28.1 billion by 2026. Here’s what you need to know to protect your business: […]
How Exchange Rates Affect Global Payments
Exchange rates directly impact global payments by determining how much one currency is worth compared to another. Here’s what you need to know: What Are Exchange Rates? Exchange rates show the value of one currency against another. For example, in June 2024, €1 was worth $1.07. Rates can be free-floating (market-driven) or fixed (pegged to […]
Flat Rate vs. Interchange Plus Pricing
Choosing the right payment processing model can save your business thousands of dollars annually. Here’s what you need to know: Flat Rate Pricing: Simple and predictable, with a fixed percentage (e.g., 2.9%) plus a small fee per transaction. Best for small businesses earning under $200,000/year. Interchange Plus Pricing: Breaks fees into components (interchange, card brand, […]
What Is 3D Secure Authentication?
3D Secure (3DS) is a security protocol designed to protect online card transactions by verifying the cardholder’s identity. It reduces fraud, improves transaction security, and shifts liability for fraudulent chargebacks from merchants to issuing banks. Here’s what you need to know: How It Works: 3DS involves three domains – merchant’s bank, cardholder’s bank, and card […]
Contactless Payment Rings: Security Features Explained
Contactless payment rings make paying faster and safer. These small, wearable devices use NFC technology to securely transfer encrypted payment data with just a tap. They don’t need batteries and work like contactless credit cards but are more convenient since they’re worn on your finger. Key Features: Secure Transactions: Advanced encryption and tokenization protect your […]
What Is Multi-Factor Authentication in Payments?
Multi-factor authentication (MFA) is a security method that protects payment systems by requiring users to verify their identity through multiple steps. It goes beyond just a password, adding extra layers of protection to ensure payment details remain secure. Key Points: What is MFA? MFA uses three types of verification: Something you know (e.g., password or […]
What Is a Merchant Account?
A merchant account is a type of bank account that allows businesses to accept electronic payments like credit and debit cards. It acts as a middleman, temporarily holding funds from customer transactions before transferring them to your standard bank account. Here’s what you need to know: Why You Need It: It enables businesses to accept […]
How to Check Payment Gateway Compatibility
Want to ensure your payment gateway works flawlessly? Here’s how to check its compatibility with your e-commerce platform in three simple steps: List Your Platform Details: Identify your platform version (e.g., WooCommerce 7.8), server setup, and specific payment needs like recurring billing or mobile payments. Review Technical Guides: Check API compatibility, integration instructions, code libraries, […]
