Every retail business strategy aims to build customer loyalty and ensure an excellent shopping experience. To succeed at this, it is important to track the consumer journey and have a competent strategy that covers every point of interaction with the customers.
The sales process constantly evolves to improve communication, customer satisfaction, and commerce profitability. Before, one sales channel, such as a physical store, was enough. Later on, technology advanced, and merchants started interacting with the customers via multiple channels, so email marketing, websites, chatbots, etc., added up.
Payments are traditionally considered to be a high-risk sphere. This is due to the complexity of the procedures and tools used, the rapid development of new technologies, and the threat of fraudulent transactions. These risks are dangerous not only for the service providers and their users but also for the economy as a whole. That’s why the payment risks must be identified, monitored, evaluated, and managed. Read ahead for an up-to-date overview of the payment risks and compliance!
Every individual and business entity these days has dealt with at least one international payment system (IPS). Yet, even though it is something used daily by millions of people, not many can explain what exactly this term entails.
As a consumer, nearly every person has encountered recurring payments in action. But, as a business owner, have you considered introducing this billing type into your company’s practice? If you are still undecided, this guide is for you. Here we will tackle all the main aspects of this tech solution and explain how to integrate it into your business.
In the era of economic globalization, cross-border payments have become a vital necessity. In 2019, their value totaled $130 trillion and is estimated to reach $250 trillion by 2027. Since the volume of cross border transfers is demonstrating such rapid growth, it is an absolute must for business owners to be aware of what these transactions are and how to make them efficient. Our guide is your key to mastering the intricacies of this topic.
The 14th of September 2019 was the day when Strong Customer Authentication (SCA) requirements for online payments entered into force as a part of the second Payment Services Directive (PSD2). These regulations drive change in online retail and payment security.
We are considering how to switch to new 3‑D Secure 2.0 protocol without spending a lot of resources on it. And most importantly, how not to lose in conversion and not to harm patency of payments during transition period.
Whether you are an offline or online merchant, it is most likely that you deal with credit card processing on a daily basis. While many sellers disregard the complex algorithm that launches after the client clicks the “Pay” button, it is best to know how it works.