7 Best Practices for Your Merchant Account and Keeping it in Good Standing

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7 Best Practices for Your Merchant Account and Keeping it in Good Standing

Your merchant account is a vital part of processing payments. So it’s critical to take proactive measures to keep your merchant account in good standing. We will go over what actions or situations could get a merchant account terminated and what merchants should do to stay on the right side of the card networks. A merchant account allows merchants to accept credit card transactions by holding the money from a sale once the payment gateway approves … Read More

How to Spot Friendly Fraud: What to Look for to Protect Your Business

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How to Spot Friendly Fraud

Friendly fraud happens because of a cardholder mistake. Even though the cardholder is not maliciously disputing a charge, friendly fraud can cause your company to lose revenue and spend unnecessary time responding to disputes, which is why merchants should take proactive measures to prevent and respond to friendly fraud. Friendly fraud is when a cardholder mistakenly disputes a charge. This could stem from an unclear merchant descriptor, a family member making unknown purchases, or simple forgetfulness. … Read More

PayPal Merchant Fees: How Much Does a PayPal Merchant Account Cost?

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PayPal Merchant Fees. How Much Does a PayPal Merchant Account Cost

Ecommerce merchants strive to have their checkout process be as frictionless as possible. One of the best practices for a good checkout experience is to allow customers to pay in whatever way they would like. For many merchants, this means allowing their customers to pay through PayPal. In 2019, PayPal had 286 million active accounts worldwide, so it makes sense that merchants would want to offer this payment option. But how much does offering PayPal cost, … Read More

The 5 Cybersecurity Trends Merchants Need to Be Aware of in 2019

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The 5 Cybersecurity Trends Merchants Need to Be Aware of in 2019

JBateman is a Los Angeles-based freelance IT consultant, dedicated to educating and writing about the dangers of the Internet. When she’s not conducting small workshops or engaged in meetings, you’ll find her jogging in the park with her German Shepherd, Polly. As 2019 draws to a close, merchants, retailers, and consumers can all benefit from looking back at the cybersecurity trends that dominated this year. Merchants – who are at risk of incurring losses – especially … Read More

How Restaurants can Prevent Disputes

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How Restaurants can Prevent Disputes

Unfortunately, as long as a business accepts credit cards, disputes will happen. But there are steps merchants can take to prevent disputes from occurring. For restauranteurs, American Express put together a checklist to help handle and avoid disputes. We will take a look at their recommendations and dive a little deeper into dispute prevention. But first, let’s talk about the types of payment fraud restaurants face. True fraud is when a fraudster obtains a stolen card … Read More

How to Spot Chargeback Fraud: What to Look for to Protect Your Business

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How to Spot Chargeback Fraud_ What to Look for to Protect Your Business

Chargeback fraud accounts for 35% of all fraud losses. As such, merchants need to take proactive measures to prevent and be prepared to respond to this type of fraud. In this post, we will go through what chargeback fraud is and how merchants can prevent and respond to it. Chargeback fraud is when a cardholder maliciously disputes a charge in an attempt to get their money back from the transaction, while still retaining the goods or … Read More

Does Branded Shipping Help or Hurt Your Business?

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Does Branded Shipping Help or Hurt Your Business

Branded packages are normal for most businesses that sell ecommerce goods. By providing branded packaging, companies are expecting to elevate the “unboxing” experience and to ultimately delight and wow the customer. But what if your branded shipping is hurting your brand, customer experience, and bottom line? Usually, the last step of the ecommerce logistics journey is to deliver the product to the customer’s doorstep. Unfortunately, there are dishonest people in the world that will steal packages … Read More

2019 True Cost of Fraud Report

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2019 True Cost of Fraud Report

The LexisNexis yearly True Cost of Fraud report was just released. This report gives merchants insights into the most current fraud trends in the US. By taking a look at what channels and industries are facing specific fraud problems, merchants can take action heading into the 2020 year and solidify a fraud strategy. In this post, we will go over the key findings of the report we found most important for merchants. The True Cost of … Read More

The “Travel Bug” Fraudsters

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The Travel Bug Fraudsters

When you receive a dispute, do you know why the dispute was filed or what circumstances lead to it? Or is the first image that comes to mind when you think of a credit card fraudster a figure behind a computer lurking in the shadows? If the latter is the case, it’s time to meet the other faces of fraud. Because “true fraud” (or fraud stemming from stolen credit cards) isn’t the only type of fraud … Read More

The “Babe I Didn’t Buy That” Fraudster

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The Babe I Didn't Buy That Fraudster

If the first image that comes to mind when you think of a credit card fraudster is a figure behind a computer lurking in the shadows, it’s time to meet the other faces of fraud. Because “true fraud” (or fraud stemming from stolen credit cards) isn’t the only type of fraud costing your company serious revenue. In this video, the husband is committing friendly fraud. Friendly fraud is when a cardholder mistakenly disputes a purchase because … Read More