Something you want to know about credit card payment
Credit card is a payment method that you pay after consumption. As long as you have a relative official job with stable salary, you can apply a credit card from bank. But the card credit limit is different dependent on candidates’ application details. The bank will assign a credit limit for you according to your income level that presented on your profile. Generally as fresh men in working-class, when you have been successfully applied and received your credit card, the credit limit is around 8000~10000CNY in China. Along with your consumption level rises, within a couple of few years, your credit limit will be increased to 20000 to 30000.
In our daily life, credit card consumption is very universal. You can pay gas, water, phone, electricity bills by credit card. You can buy grocery in supermarket and shopping online by credit card payment to replace cash. Speak of shopping online, you may want to know, for example on Taobao, if a merchant or seller has not activated credit card payment processing, the buyer/customer will be charged a slightly fee. And the single transaction has limit of 500CNY. And the fee charged is different dependent on each bank policy. There is an special occasion for shipping on Taobao with fee charged. It’s international credit card (VISA、MasterCard、JCB) payment processing. There is around 3% processing fee. However, for a merchant, credit card payment processing has a lost pros:
The merchant has more Payment Gateway options.
The credit card support large amount for single transaction, the merchant save time to receive payment by separating the order into smaller amount.
Credit card can stimulate customer consumption desire, which leads to an increase in transaction volume.
The credit card channel setup is easy and fast, the merchant can find a proper third party gateway or apply directly with their ecommerce shopping mall which supports it.
IT’S WHAT WE DO WITH YOU THAT COUNTS
By now, I hope that you have heard the news that Acardpay Payment Services/Ogone and GlobalCollect have merged together under one new brand – Acardpay. Without a doubt, this new brand embodies the ambition of Acardpay Group within the eCommerce space.
It's what we do with you that counts
Together, we exceed the sum of our parts and are creating the future of online and mobile commerce. Our payment options, multi-currency capabilities, fraud and security solutions and mobile-first technologies have integrated beautifully and we are investing in enhancing our platforms and products across the organization to make Acardpay’ position even stronger.
We firmly believe in our technology and our products, but we also believe that our service and customer care is crucial to what we do. That is why we make sure to give our merchants and partners the best experience possible while working on their payment needs. Our goal is to be their trusted partner, so they know we truly support their ambitions, no matter whatever or wherever they are.
Investing in People
The first step towards making this goal a reality has been to engage with our own people and set the internal stage for our new direction. Our employees are the heart and soul of our business and it is their hard work and efforts that enable Acardpay to go further beyond. Because of this, Acardpay has invested the past four months in what is internally known as the “Global Brand Journey.”
Our Global Brand Journey took place in every Acardpay and Acardpay Payment Gateway Services/Ogone office worldwide. Over 600 employees participated in offices located in Singapore, London, Hoofddorp, Brussels, Buenos Aires and San Francisco. Acardpay colleagues around the world shared stories of how their teams make a difference in our clients’ business and help them go further. The results were astounding. This four-hour workshop helped create the foundation for the new Acardpay ePayments brand, by emphasizing our consultative approach and customer-centric focus. And perhaps more importantly, it reminded our people of how valuable they are to the company and it encouraged our colleagues to take pride in their work.
Going Forward into the Future, Together
To be sure, our new company has complementary technologies and enhanced synergies which will allow us to leapfrog past the competition in the industry. Our innovative spirit drives us beyond today’s boundaries to create the future of global commerce. We connect merchants and consumers, enabling businesses everywhere to go further, due to the hard work of our employees.
The Acardpay team is the engine that powers us and by investing in our people, we can improve the services that we provide to our clients. We are confident that empowering our employees will ultimately result in more benefits for our merchants, as we work together to make their goals a reality. Which is why we believe that: “It’s not just what we do for you, but it’s what we do with you that counts.”
What will happen if the airline isn’t able to deliver the flights as promised?
The answer is not good. If the cardholder did not receive the flight as promised, the processor has to return the money to every cardholder that is affected. This happens as soon as the disputes are created, not when they are decided. The processor will have the contractual right to go after the airline to recoup the costs, but if the airline is going out of business the processor is going to be one of many in line waiting to get paid by the airline. It’s quite possible the processor may not be able to recoup all the funds. For that matter, large airlines can process billions of dollars per year in flight Payment Gateway. Billions. The amount of money that a processor could potentially be liable for is tremendous. That is why payment processors only want to board well managed, stable airlines with strong financials. This creates an especially tough challenge for startup and young airlines to overcome because they don’t have a track record to stand on.
What I do in my role is work with my clients to understand their business, and build a strong argument to explain why many of the underwriters concerns may not be legitimate in the case of my client. We will strategize in terms of ways to develop a funding schedule so that if there is a reserve, the money will be released back to the airline as quickly as possible after the flights occur. If we highlight the strengths of the business we can offset the perceived risks. Done correctly, we’ll have a much higher chance at better terms of approval (and yes, better rates as well).
Visa VCR: A New Chargeback and Dispute Resolution Process in April 2018 Introducing Visa Claims Resolution (VCR)
In this article we'll explore Visa's new dispute resolution process, which is replacing the old chargeback process, and is aptly titled "Visa Claims Resolution".
This is not intended to be an official or authoritative resource on the topic of VCR. For that, you should refer to content provided on the Visa website which can be found here. What we'll be exploring here are some of the biggest changes, and the beneficial impact it will have on merchant account.
It's fair to say that some merchants find the chargeback process difficult to understand. It is a process that has a lot of mystery associated with it, simply because there is often little insight into what goes on behind the scenes after receiving a chargeback. Disputes come in, you try to fight the disputes, sometimes you are successful, and sometimes you are not. It appears simple (you just send in your information) and then you wait to see what happens. Many merchants would benefit by having a better technical understanding of what is occurring after the paperwork is supplied. Since VCR has new rules with regards to the resolution of disputes we'll touch on this along with some of the changes that are occurring behind the scenes.
Security for mobile pay
For online merchant, the payment method is more and more various. For example, the mobile pay technology is becoming increasing consummated and widely used in online consuming. According to a survey, over half of interviewee at least shop online once a week. While the global data is not over 30%. Compare to the other countries, Chinese people are more likely to use smart phone or tablet PC for buy on the internet and more frequently.
Although mobile Payment Gateway is convenient for merchant credit card processing in daily life, it is also a profit-making channels for lawless person. It is being aimed by internet Hacker. They can hack into related APP and the users’ account, they can also change the program maliciously. Then they re-packed the data and posted on the resource website or sell to third party app store. The users’ accountant and confidential information can be stolen.
It is recommend that to note the security of resources where you downloaded the app. And when you receive text information in relating with money borrowing, please verify by calling back to avoid be deceiving.
ECOMMERCE STRATEGY: WEB SHOP BASICS
Whether you are an established brick and mortar merchant looking to expand on-line or a business launching a new product line or service, setting up a web shop is a great step with lots of revenue potential.
However, it can be difficult to know where to start and how to do it right. What do you need to be aware of?
Store front
Naturally, the actual shop is the center of your eCommerce strategy. New online merchants often spend a lot of time and energy debating customer experience and the look and feel of the shop. While this is important and should be given the proper attention, don't become so obsessed with perfecting it that it delays launching. Adjustments can always be made after launch. As a matter of fact, a best practice would be to test multiple designs to see what performs best.
For cross-border eCommerce merchants, localization can also be time consuming. Translations, payment options, and currency issues are just a few of the critical activities. Depending on the time and resources you have available, always analyze the size of the local audience and the potential revenue opportunity. A phased approach often works best - you can prioritize which regions to first localize and also what content in your store front needs to be localized.
Promotions
There are many ways to promote your new product or service. Start with understanding your target audience and how they buy. Search engines like Google and Social Media sites like Facebook offer special advertising tools for online merchants. If you have a special shop you can search for directories and third-party sites.
Product Information
Establishing trust is key to acquiring and maintaining customers. And trust is built in part by making sure that you provide accurate and relevant product information. Of course your web shop needs to show the items you sell, with all associated costs clearly outlined and delivery cost and options. A robust FAQ that is expanded over time based on customer feedback and comments is also a good idea.
Order Management
Once the orders start coming in, you must ensure a reliable fullfillment process. Complaints and bad reviews are very often caused by poor fulfillment. Offer your customers reliable shipping options, preferably with package tracking. Have an easy and efficient manner for handling returns. A good system must be in place, including a dashboard for your customer service team, with the latest order and payment status.
Payment Gateway is a significant part of order management. It's important to understand your customers and offer them their preferred payment methods. Limiting payment methods leads to cart abandonment and missed sales opportunities.
Risk and fraud management is also an important part of order management. You only want to deliver the goods, when the payment has been secured, and the fraud risk has been minimized. This can result in a pending order due to the consumers choice to use a cash based payment method. Offering Brazil's favorite payment product Boleto Bancaire, as example, will have this effect.
Financial systems
Your financial systems may need to be adjusted to handle online payments. You also need to take the costs of the payment product into account and in the case of cross-border eCommerce, you may have the impact of foreign exchange rates to consider.
Once these systems are in place, you can support your web shop. Optimizing and improving your web shop will be an ongoing process, with customer feedback an integral part of making any improvements.
To learn more about how you can grow your online business, click below to download our resource kit.
Domain for a web store
Survey data shows the online store owned independent domain has 25% more sales than the store without its own domain. The reason lies in the online store with own domain are more accessible and that will help promote the web store brand image.
A good domain like a enterprise or product brand, which represents a high quality website store. Except commonly used name, a brief, easy pronounced and memorable name is worthwhile. In general, people tend not to search an inconvenient website address with browser. Most of the time, we would prefer to guess or try a reasonable domain to access a website. If your website store domain name is very easy to remember and connect to the key business that stands out of other websites. Then your customer has get an good impression at your store image and strength.
First, brief and easy to remember, embodiment of the store’s characteristics.
Domain contained store name or business id will be very easy for customer to guess and remember. Especially for old customer, they will find your store fast anywhere after the first time accessing.
Second, reliable and manifest the store’s strength
A good domain is a business trademark, which is one of the important identifications. The good trademark will advertise itself and gain you a good effect.
Third, practical advertising media
After owning an exclusive domain, you can print it on your business card or other places that can shows the name in your store.
Fourth, long term strategy for creating a brand
When your business is expanded later, you want to create a brand of your own. You can use the domain to develop an independent store. By this way you are no longer limited in any platform of credit card Payment Gateway.
Fifth, domain protection
Many people has realized the domain investment value very early and registered many domains ahead of time. So it is recommended the store owner to protect the name related with your store brand to avoid registration by others.
