Having an effective online credit card processing solution becomes really important for businesses having a presence on e-commerce platforms. Nowadays, more and more consumers are preferring online payment methods as it is more convenient. Let us understand how business companies can opt for the most suitable type of payment solution.

Businesses with a higher risk of chargebacks require an effective online payment transaction solution. Higher chargebacks refer to the need for paying higher fees for merchant services. If you own an online business and it has a higher risk of chargebacks, then you must opt or switch to an effective and suitable solution that is none other than high-risk merchant accounts. This type of account is basically a payment processing account for businesses that are considered to be of high risk to the banks. When it comes to open this type of account, or to subscribe to this solution, approaching a professional service provider becomes remarkably meaningful. Now this task (of approaching reliable service provider) can be a little tricky. But if a few points are considered carefully, people can make the right decision. Let us understand.

The credibility of Service Provider

First of all, people must ensure to check the provider’s credibility. They need to make sure the provider they are selecting holds a strong reputation in the market, and amongst clients. The provider must be a well-recognized company or an agency. 

Range of Solutions and the Professionalism

A company that provides a reliable and genuine range of solutions is always the best pick. For example, if a person has a small-scale business, then there must be a range of small business payment processing solutions. And, if there is a business owner having a bigger firm (business on large scale), there must be solutions according to the need. Plus, people must consider an important attribute that is professionalism. Professionalism is itself an assurance that the company or the provider will never let their clients feel down, or in a loss.

Affordability

Affordability is another important point to consider. We are living in the world, where quality and affordability go hand in hand. The only thing required is to be very careful while trusting on a provider and finalizing the deal with the provider.

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WHAT IS A FRIENDLY FRAUD?

The very first thought that hits our mind about friendly fraud is how can a fraud be friendly! Obviously a fraud can be everything but cannot be friendly.

It’s a universal fact that no one is perfect and we all commit mistakes in some point of our life. Friendly frauds are unintentional. They are committed without the intent to deceive, revenge or to gain something. Basically, chargeback or any dispute filed by customer by mistake is known as friendly fraud.

Following are the key reasons for happening of friendly frauds:

• Forgetfulness: When customer forgot that he made a purchase and misinterprets the situation.
• Unawareness: When someone else from the family has made the unknown purchase and the credit card holder is not aware of it and file a chargeback against the merchant.
• Recurring bill: When a customer frequently purchases a certain product from a merchant, recurring billing happen automatically and charges cardholder. So, in case customer forgot that he has agreed to recurring bills then he might lodge the file against merchant.
• Misunderstanding: Friendly fraud can also occur if the customer has not properly understood the return policy of merchant.
• Improper knowledge: Another main reason for friendly fraud is that people are not aware of the correct procedure. They file a chargeback instead of first approaching the merchant for refund.

How does friendly fraud happen?

To file a fraud claim, friendly fraudster has to first convince the bank that he should get his money back. To do so, a friendly fraudster can claim a variety of problems but the most common claim is that the transaction was unauthorized. They make legitimate transactions looks like a fraud by taking advantage of policies maintained by issuer like zero-liability, CNP (card not present) nature of eCommerce, and acts like Consumer Protection Regulations force issuers. All these things result in time consuming and heavy chargebacks.

What happens when chargebacks take place?

after understanding friendly frauds let’s move on to another big headache of merchants i.e. chargebacks!

Here three things are involved which are as follows.

• Merchant is at fault: It is also known as the Chargeback White Area. When customer is genuine in this case and unhappy with the services or product of the merchant because of any reason, the last option left with customer is to contact his bank or credit card company and issue a chargeback against merchant after trying to resolve the problem with a merchant. Key reasons for filling a chargeback are as follow
  1. Merchant deliberately not delivering product or service.
  2. Intentionally lying about the purchase made.

• Charging more than authorized.

1. Delivering wrong product.
2. Merchant using recurring billing incorrectly.

• Customer is playing a dirty tactic: In recent years many false cases of chargebacks are being reported and they are growing continuously. The cardholder intentionally make a legitimate transaction looks like a fraud with the intention of getting money while retaining the product and service provided. In the end customer gets everything and merchants suffers with great loss.
• Third party is involved: Sometimes neither the merchant nor customer is at fault but the third person is involved. By stealing bank account and credit card information third party commit criminal credit card fraud. Now the victim cardholder can contact issuing bank and report the fraudulent transaction and can seek for money return from the merchant by filling chargeback.

HOW TO SAVE YOURSELF FROM FRIENDLY FRAUD AND CHARGEBACKS?

It is near to impossible to get 100% security from chargebacks. In market many merchant account provider will claim full protection just to gain your trust. As a merchant you have to be very smart and think rationally. Following strategies should be use to prevent friendly fraud and chargebacks.

• Try to resolve disputes: Always first try to resolve the dispute with the merchant. There are new features available in market like Visa Merchant Purchase Inquiry (VMPI) which helps merchant to respond in real time to the issuer. Issuer can now talk to the customer and clarify the confusion with the information given by the merchant.
• Analyse data: You cannot just change the mind of the customer but you can prevent friendly frauds and chargebacks by analyzing the history of such incidents. Look on to the major reasons behind the dispute. For instance, if customers were unhappy because of late deliveries or they are not satisfied with the product then work on your weak areas.
• Make a blacklist: According to an online report it has been found that friendly fraudsters and chargeback claimers are repeat offenders. If they have once got the full advantage then will likely to do it again. Make a record and add such customers who commit friendly fraud. In future if any blacklisted customer will try to shop with you can cancel their transaction. Remember few bucks are not more important than your market goodwill and heavy chargebacks.
• Include payment agreements: This simple change can be really fruitful, add a payment agreement to your checkout process. It will discourage fraudsters and will help you legally in case chargeback occurs.
• Install predictive device identification tools: “Prevention is better than cure”. Use predictive device to identify any suspicious activity. New software solutions are advancing every day. Although you should not completely rely on them as they really don’t predict accurately to CNP (card-not-present).
• Track the size of the order: If the size of order is big, use more security measures like keeping track of the order and shipping.
• Beware of outside country orders: Fraud percentage is higher on international orders than on within boundary purchases. Most of the merchants choose extreme route and eliminate international orders altogether. Security and scrutiny of international deliveries should be extra.
• Clear merchant descriptors: Make sure your business or store name is part of the descriptor. Sometimes when the merchant description is not clear, customer doesn’t recognize where the transaction statement in bank came from and then immediately disputes it. Your identity is important as it make charge identifiable.
• Authentic marketing: Do not show any product material which doesn’t match to the original product customer will receive. Write clear description of product, online ads. Set only realistic expectations for your customer because if later customer doesn’t get satisfied then you might have to pay a big cost for it. Never make you customer feel mislead or cheated.
• Great customer services: There are chances where you can prevent chargebacks and friendly frauds by providing excellent customer services. Reach out to your customer as soon as they try to contact you. Try your best to resolve an order error or an issue with the purchase. 24/7 quick service arrangements should be done by you.
• Fulfil orders on time: Try not to delay order more than usual. Shipping delay may create doubt to customer and then he may claim refund.
• Notify your customer: If you provide subscription and recurring billing facilities, make sure you notify your customer before you charge a customer’s card. Tell them exactly why they are being charged. Maintain a transparent relationship with your customer because one of the common reasons for friendly fraud and chargebacks is unforeseen recurring billing.
• Follow processor protocol: There is set protocol of every credit card processor. While swiping card in Card Present Purchase make sure to check the date of expiry and enter the security code. Whereas, in Card Not Present Purchases your credit card processor need to give permission for processing. To complete the transaction some extra formalities may have to be done like customer’s IP address, digital signature etc.
• Spot warning signs of fraud: If you have noticed any sign of fraud then check AVS, also ask for CVV, use VAU and fine-tune fraud filters. Be very alert check the billing and shipping address. You can even call the customer for the better understanding.
• Have trained employees: Your staff should be well trained and should know how to deal with both card-present and card-not-present purchases. Untrained worker will not be able to identify signs of frauds which can affect your business adversely.
• Fight back only when you are sure: Sometimes it is recommended to not fight every chargeback unless you are sure that you will win the case. You must not devote your time and resources on something not worthy. It will only make your hurt your relationships with your merchant account provider.
• Use a chargeback protection services: If you are a high risk business and prone to large number of chargebacks, chargeback prevention services is the solution. There are companies available in market which helps merchant to prevent and fight chargebacks. They provide with fraud protection tools. It will work as an extra layer of protection.
• Get the best payment processor: Last but the most important thing which you should take care of is to get an authentic and suitable merchant account for your business. As they provide you payment solution with fraud detection and security features. If your merchant account provider is not well experienced then your business at risk. Do all your research and then choose a merchant account provider who can understand your nature of business and risk associate with it. One of the leading merchant account providers in market is iPayTotal which helps you at every step with decades of working experience and professional workers.

With presence of mind and extra efforts you can totally protect your business from friendly fraud and chargeback. Keep the above mentioned measures in mind and you are ready to fight.

E cigarette products have been an industry that’s seen great and constant growth over the past 5-10 years. Physical, face to face transactions always carry less risk, so you will often find large option for payment solutions for your shop or retail outlet.Recent studies show that approximately 10 new brands of e-cigarettes are launched every month.

There is no doubt that this industry is smoking hot, and entrepreneurs are taking advantage of it. However, banks don’t make it easy for new businesses and smaller businesses in the e-cig industry to get credit card transactions processed. Traditional financial institutions consider electronic cigarette and related businesses high risk, making it tough for them to get fair, cost-effective payment solutions. This is when iPayTotal comes in with a solution as a responsible high-risk e-cig merchant account provider that serves businesses worldwide.

Why are E Cigs High Risk?

The banks manage and consider many facts while approving the payments for these high-risk industries. The government has introduced really strict rule and regulation that has affected the new and old E-Cigarette companies. Some countries have also banned the sale of E cigars while other companies have the strict rule to sell these products. There is mandatory tobacco tax charged on such products, due to this E-Cigarette is considered of high risk. At iPayTotal, we promise to give you a simple solution for all the problems.Since the inception and release into the US markets, the e cig industry has remained relatively unaffected by significant legislation to regulate and control the industry. Even if  there are few requirements by the card payment networks for compliance, some processors are becoming strict.

E-Cig Credit Card Processing

Merchants in the e Cig industry have certain requirements of their payment processor company to ensure the functionality and longevity of their merchant account services.  Since e Cigarettes and vaporizers fall into a grey area category for many payment processors it’s important for merchants to ensure that their chosen service provider can handle any potential risk and changes to the legal or payment networks and their ability to accept e cig transactions.

Credit card processing companies charge a processing fee which is usually a percentage which is calculated by the processing amount. The amount of that percentage is regulated and it needs to be kept reasonable for any merchant account provider to compete. That’s the good news. The bad news is that other fees, like monthly fees and transaction fees, are not regulated and sometimes they are even hidden from view.

Merchants that decide to use a merchant accountwill have the option for direct integration into the acquiring bank, an important function for businesses because it can allow for better approval rates, faster authorizations, higher monthly volume caps and less restrictions.

Why Choose iPayTotal Solutions for Your business Credit Card Processing

iPayTotal has a team of experts and we also have partners with proven records when it comes to vape or e-cigarette sales. With everyone’s combined efforts, we assure you that both start-ups and existing companies will be nurtured. We provide tailored solutions, along with relevant recommendations so that you maintain compliance with industry standards.

While you search the web for that special lady…the one in all your dreams…your soul-mate…the partner of yourself, you’ll do tons of things right. Sadly, you can, also, do tons of things wrong….things which will guarantee failure and a broken heart. get in the “real” world, being aggressive, rigorous perfection and even very little white lies ar all ingredients for achievement. However, those self same qualities are killers when you are dating online and off line, too, for that matter.

There is a big distinction between being aggressive or assured and being too aggressive, over-confident, or simplyplain sleazy or slippery from a woman’s purpose of read. If you push too exhausting for a face-to-face, you’ll come upon as too aggressive…maybe even, scary. attempt to bear in mind that you simply don’t seem to be attempting to shut a transaction and keep the link progressing at a slow however steady pace. Patience is that the key.

Nobody is ideal. we tend to ar all blemished in how or another…and that has you, as well. If you expect the lady to be completely excellent and demand that, you’ll continuously be unsuccessful. rigorous temperament in your work is one factor. demanding temperament from a friend, co-worker or a woman you’re interested in isn’t simply fine. It won’t happen. Expect flaws and simply upset them. Decide those you’ll live with and those you can’t.

Little white lies and false fronts won’t work. Be honest from the start of a relationship. Write your profile. build it interesting however don’t make false statements. the reality can begin eventually anyway. If you say you’re a attorney WHO makes 1,000,000 bucks a year and you’re extremely an skilled worker that makes $75,000, you have set yourself up for failure.

Remember…don’t be too aggressive, expect to ever realize perfection or placed on a false front.

For merchants seeking an Online Dating Merchant Account, iPayTotal can offer stellar solutions and fast approvals. Regardless, we are always up for a discussion with like-minded merchants about payment processing possibilities. Speak one-on-one with a live merchant account manager at +(44) 800 776 5988. You can also fill a short form and one of our representatives will contact you within 24 hours during the weekdays to assist you further regarding the same. write us at info@ipaytotal.com

Paying for goods and services online seems slower and far more difficult than it ought to be. Even the most sophisticated applications have billing systems that are not user friendly in comparison to their other features.

In today’s world, Payment gateways successfully provide end-to-end solutions for seamless customer experience. They are the key medium to help merchants receive card payments in both the situations, i.e., card present and card non-present transactions. For increasing the value added services, payment gateways have integrated front-end services of newly available banking platforms.

The future is calling…are you prepared to answer?

Mobile commerce:

If mobile wallets take off in the way the analysts expect, they could become the biggest shift in the fintech world. This is particularly ripe for retailers. Using mobile wallets, they can enhance transactions and improve the overall shopping experience.

Restaurant owners don’t trail far behind the big players. With the emergence of quick service restaurants (QSRs), customers can get their meals fully prepared without going to the restaurant, visiting the nearest ATM, and taking out a wallet.

Make EMV a priority:

EMV chip cards use embedded chip card technology to add another layer of protection against theft and fraud. The cards dramatically reduce the occurrence of card-present fraud, and US merchants have many options in new credit card terminals.

Shoppers will be offered an increasing variety of experiences.

For a long time we had two primary payment experiences—you either went to a store and handed your payment to a cashier; or you shopped online and entered your information on a checkout page.

You might also visit a restaurant, and order and pay on an iPad. You might even receive a text with a link to a payment page to make a donation to your favorite charity, for instance—imagine how quickly payments could be made using texts bundled with eWallets!

We expect to see an even greater variety of payment experiences to emerge in 2019.

Blockchain:

The blockchain is to watch out this year. In 20189, it’s all set to make financial reporting much more transparent and secure. This is why the latest trends in payments industry fuel the growth of BTC and other cryptocurrencies.

Card-to-cloud transition

Today’s world moves toward seamless digital transactions, allowing you pay via whatever device you pick up. As trends in payments continue to evolve, so does the consumer technology.

Since technologies always move forward, credit cards are no longer enough for an average user. That’s why card-to-cloud transition may happen in the nearest future.

Partner with an expert:

There’s no clear path through today’s increasingly complex payments landscape— which is why choosing the right payment processor is more important than ever. Make sure the processor you work with has experience in your industry and will not push cookie-cutter solutions. Instead, they should serve as both a provider and an advisor by setting you up with the credit card technology that suits your needs today and in the future. Afterall, it’s your processor’s responsibility to keep pace with the latest payments technology, taking care of payments so you can take care of business.

Have questions? Reach out to one of our payment experts to discuss your options.