5 Strategies to Manage Exchange Rate Risks
Exchange rate risks can significantly impact your business, especially if you deal with multiple currencies. Here’s how to protect your profits: Forward Contracts: Lock in today’s exchange rate for future transactions, ensuring predictable costs. Currency Options: Pay a premium to secure the right (but not the obligation) to exchange currency at a set rate, offering […]
Real-Time Fraud Prevention for High-Risk Merchants
Real-time fraud prevention is critical for businesses in high-risk industries like gaming, online pharmaceuticals, and subscription services. These merchants often face higher fees, strict compliance rules, and increased fraud risks. Fraud types such as card-not-present (CNP) fraud, chargeback fraud, and account takeovers can lead to significant financial losses, with U.S. e-commerce fraud projected to exceed […]
High-Risk vs. Low-Risk Merchant Accounts
High-Risk vs. Low-Risk Merchant Accounts Merchant accounts enable businesses to accept electronic payments, like credit cards. These accounts are classified as high-risk or low-risk, depending on factors like industry type, fraud potential, and transaction volume. This classification impacts fees, approval processes, and account terms. Key Differences: Low-Risk Accounts: Lower fees (1.5%-3%), minimal restrictions, and faster […]
Best Practices for BNPL API Integration
Buy Now, Pay Later (BNPL) is transforming how people shop online, offering payment flexibility that drives higher sales and customer satisfaction. By 2025, BNPL is expected to handle nearly $122.26 billion in transactions in the U.S. alone, with 43% of users being Millennials. However, successful integration of BNPL APIs requires careful planning, security measures, and […]
10 Customer Communication Tips to Prevent Chargebacks
Chargebacks are a costly problem for businesses, with U.S. merchants losing $240 for every $100 in chargebacks. Surprisingly, most disputes arise from poor communication, not fraud. Key stats reveal that 23% of customers file chargebacks immediately after an issue, and 80% of consumers report never being contacted by the merchant after filing a dispute. Addressing […]
CNP Fraud Prevention Checklist for Businesses
Card-not-present (CNP) fraud is a growing concern for businesses, especially as online transactions become more common. This type of fraud, where stolen credit card details are used without the physical card, has led to billions in losses globally. In 2023 alone, U.S. businesses faced $9.49 billion in CNP fraud losses, with projections showing this figure […]
Device Fingerprinting in E-commerce Fraud Prevention
E-commerce fraud is expensive, growing, and complex – but device fingerprinting offers a powerful way to fight back. By identifying devices based on their unique configurations and behaviors, merchants can detect fraud more accurately and reduce risks like chargebacks and account takeovers. Key Highlights: Fraud Detection Accuracy: Device fingerprinting identifies returning users with 99.5% accuracy […]
Ultimate Guide to Chargeback Evidence Submission
Ultimate Guide to Chargeback Evidence Submission Chargebacks happen when a customer disputes a card transaction, forcing the bank to reverse the payment. As a merchant, you must provide evidence to prove the transaction was legitimate. Without the right documentation, you risk losing money and damaging your business reputation. Key Points to Get Started: Common Causes […]
What Is Dynamic Currency Conversion?
Dynamic Currency Conversion (DCC) is a service that lets you pay in your home currency when using a foreign card abroad or online. Here’s how it works and why it matters: How It Works: When you use your card, you’re given two options – pay in the local currency or your home currency. The system […]
What Is Risk Scoring in Payment Processing?
Risk scoring in payment processing is a system that assigns a numerical value to transactions to assess their likelihood of fraud. It helps businesses decide whether to approve, review, or decline transactions in real time. Here’s what you need to know: What it does: Detects fraud by analyzing data like IP addresses, geolocation, and customer […]
