Author: Maria Sparagis
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Timeline of a Chargeback: The Merchant’s Guide to Processing Chargebacks
The timeline of a chargeback is a tricky one and tends to favor the customer. It involves all parties: customer, card issuer, credit card network, acquirer, and finally the merchant. Merchants who ignore chargebacks or fail to respond in time will lose revenue, increase their chargeback ratio, and take one step closer to account termination. For these reasons, chargeback management is a high-risk merchant’s best ally. Steps for Chargeback Processing There…
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Expansion Part 2: Strategies for Maximizing Revenue When Expanding into New Markets
Business expansion into new markets is more than allowing your site to accept payments. We covered that in part one. To sum it up, you can add Dynamic Currency Conversion (DDC), open a Multi-Currency Merchant Account, or incorporate in the region. Now that you’ve prepped your store, how can you be sure of customer interest? And if customers…
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Expansion Part 1: Expanding Your Business into New Markets with DCC, Multi-Currency Accounts, or Incorporation
Expanding your business into new markets is a great way increase revenue and meet the demand of customers abroad. With the ease of creating online stores, the process of opening up shop anywhere in the world is absolutely possible but not without jumping over a few hurdles. The first step towards expanding your business into new markets is to prepare…
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Startups are risky. Here’s how you can maximize your chances of getting a merchant account for one.
Startups are inherently high risk, which means getting a merchant account as a new small business owner is going to be a challenge. It can seem like a perpetual cycle. You need payment processing history and past business experience to get approved for a merchant account. But how can you get the experience without being approved? Don’t fret—there’s a way to break this cycle. And there’s…
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Interchange fees could be changing. So, which is better for merchants: debit card or credit card processing?
The fast and easy answer is that debit cards cost less for merchants than credit cards. But that answer doesn’t include card type popularity or preference by consumers. That could be changing too, though, based on support for interchange fee adjustments for debit card use by the Justice Department. Understanding Interchange Fees To understand the importance of the proposed change to interchange fees regarding debit card purchases,…
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