eCommerce in the Wake of Data Theft: A Three-Pronged Approach to Rebuilding Customer Trust

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At the end of 2013 headlines of recent data breaches and the personally identifiable information that was at risk because of them were hard to ignore.  As a result, many consumers were left feeling helpless and fearful of what would happen with their personal data seemingly exposed.   Unfortunately, these hacks are becoming more frequent and everyone in the ecosystem, everyone in the payment space, everyone in commerce is, in fact, impacted.   How can you help rebuild con...Read More

Spring Cleaning: Semi-Annual Card Brand Network Enhancements Take Effect

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April and October are scheduled semi-annual enhancement months for the card brands. Among the many changes announced, there are some updates that are particularly impactful to card-not-present (CNP) merchants. As we enter the season of “spring cleaning,” here are three changes from MasterCard® and Visa® (effective April 11, 2014) that can help keep your payments program fresh.  1.       MasterCard’s Large Market Rate Structure ...Read More

On the Fast Track: Why Speedy Payments Matter

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  • E-commerce Payments Technology 

Speed matters in eCommerce. It matters throughout the entirety of the digital shopping experience to keep customers engaged and moving toward the sale. It matters when your customer is waiting for an answer on whether or not their payment was accepted. And it matters when you’re evaluating ways to reduce shopping cart abandonment, which can be as high as 68%. Bank Innovation recently published a monthly list of the fastest payment processors in the world based on GatewayIndex resu...Read More

Payments Madness: Fraud and Security Selections

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  • Payments 

We’re highlighting 64 considerations for your payments program in our series: Payments Madness. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  We’ve already made our selections in the regions of Payments Acceptance, Processing Payments, and Revenue Solutions.  Today, we’ll close out our bracket with the region of Fraud and Security Solutions. Every busine...Read More

Payments Madness: Selections in the Region of Revenue Solutions

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We’re highlighting 64 considerations for your payments program in our series: Payments Madness. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  We've already made our selections in the regions of Payments Acceptance and Processing Payments. Today, let’s explore the region of Revenue Solutions. Processing payments shouldn’t simply be looked at as a cost center...Read More

Payments Madness: Selections in the Region of Processing Payments

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  • Payments 

We’re highlighting 64 considerations for your payments program in our Payments Madness series. Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  Last time we made our selections in the region of Payments Acceptance. Today, let’s explore the region of Processing Payments. There’s a lot that goes in to successfully processing payments in the online and card-not-prese...Read More

Get to Know Payment Fraudsters: Final thoughts from MRC

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  • E-commerce Payments Technology 

Last week at the annual Merchant Risk Conference in Las Vegas, I rubbed elbows with representatives from dozens of card-not-present merchants all tasked with one, unifying mission: outsmarting the specific fraud attacks that assail their businesses. One can learn a lot by staying quiet and just listening to the fascinating insights these fraud-fighters bring from the trenches. Not surprisingly, I heard many of the same lessons offered up in-person that we’ve shared on this blog in our re...Read More

Payments Madness: 64 Considerations for Your Payments Program

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  • E-commerce Payments 

It’s that time of the year. As the frenzy to fill out the perfect bracket renews itself, it offers some parallels to making the right selections for your payments program.  Like the tournament, there are countless bracket combinations and potential outcomes when it comes to payment processing solutions and the tools you employ.  In this Payments Madness series we’ll outline 64 considerations for your payments program broken out into the regions of: Payments Acceptance...Read More

Razor Blazer: Dollar Shave Club Named to Internet Retailer’s Hot 100 Issue

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  • E-commerce Industry Trends 

The Internet Retailer Hot 100 issue showcases ecommerce sites that have transformed the online and customer experience over the past year in categories such as apparel/accessories, health/beauty, mass merchant and mobile. The Hot 100 is a qualitative judgment by a team of editors and research analysts who together assess thousands of ecommerce sites from around the globe to select those that are leading innovation in the online environment and have made great strides in creating a memorable ecom...Read More

Get to Know Payment Fraudsters: They are adaptable

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  • Industry Trends Payments Technology 

Fraud is inherent to doing business online, an unfortunate reality that card-not-present merchants live every day. Countering fraudster schemes is that much more realistic if you know your enemy. That’s the thinking behind this 3-part series. Two weeks ago we shed some light on the persistent, deliberate nature of fraudsters. In this third and final installment, we’ll delve into the frustrating tendency of fraudsters to engineer their way around the tripwires that we set for them. We...Read More

Behind the Headlines: The Trickle-Down Effect of Card Data Theft

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In light of recent high-profile card data theft, we shared analysis that illustrates the real-life impact we've observed in our recurring merchant portfolio. A surge in account number changes fueled by debit card reissuance is a strong indicator of extraneous forces at work. The next logical place to observe the impact is in our approval rates. So what do they tell us? Over the first five weeks of 2014, we observed degradations between 2 and 3% in credit and debit approval rates. These de...Read More

Behind the Headlines: Debit Card Reissuance Now Trending

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  • E-commerce Industry Trends Technology 

In Part 1 of our Behind the Headlines series, we discussed the sharp spike of account number changes in our recurring merchant portfolio over the first five weeks of 2014. This data reflects recent high profile data compromises and accompanying responses from issuing banks. One of our most notable observations is the surge of debit card reissuance, which accounted for 2.3 M account number changes versus 1.5 M for credit cards reissued over that time period. Our data also shows that one of the to...Read More

Behind the Headlines: Surging Card Reissuance after Data Theft

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  • Industry Trends Payments 

Card data theft is a hot topic. You’ve seen recent headlines of high profile attacks and consumer consequences, including large-scale card reissuance. Processing solutions that limit the negative consequences of card theft and its associated payment disruptions are front-of-mind for all merchants. Account updating is one such line of defense. It checks with Visa®, MasterCard®, and Discover® for changes to card account information and can apply them automatically (manual opt...Read More

Payments Dictionary: 205 Words Worth Knowing

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  • Payments 

Over the last several weeks we’ve been highlighting key payment terminology in our Word of the Day series. The payments world is constantly changing and there’s a steady stream of new terminology that comes along with it.  This series and our Payments Dictionary: 205 Words Worth Knowing is designed to help.  We’ve defined emerging terms while providing definitions on some of the industry’s most standard words.  Let’s recap the chapters covered in ou...Read More

Get to Know Payment Fraudsters: They are deliberate planners

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  • Industry Trends Technology 

Fraud is a fact of life for online and card-not-present merchants. The better you know how its perpetrators operate, the better positioned you’ll be to protect against their attacks. We present this 3-part series in that spirit. Last time we discussed  how fraudsters organize themselves to leverage their dubious talents. Today, we’ll shed some light on the intricate long-term planning efforts behind payment fraud attacks, and what that means for online merchants. When it co...Read More

Word(s) of the Day Wednesday: Fraud & Security Terms

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  • Payments Technology 

Fraud is a fact of life for merchants and the problem isn’t going away.  Preventing fraud and securing your customers’ data is just the beginning.  To help you get a better understanding of fraud and security terms we’ve outlined 22 terms you should know in our Payments Dictionary: 205 Words Worth Knowing.  Start by understanding these five terms today: EMV Stands for Europay, MasterCard and Visa; global standard for inter-operation of integrated circuit c...Read More

Word(s) of the Day Wednesday: Transaction Terms

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  • Payments 

The way consumers interact and purchase with you is changing.  There are different considerations for point-of-sale, eCommerce, and recurring transactions.  Begin to understand the nuances of each transaction with this sampling of transaction terms from our Payments Dictionary: 205 Words Worth Knowing. INSTALLMENT TRANSACTION The single purchase of goods or services billed to an account in multiple segments over a period of time agreed to between a cardholder and a merchant ...Read More

The Role of Payments in an Omnicommerce Approach

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  • E-commerce Industry Trends Litle News Events Payments Intelligence 

In part-one of this two-part series we explored the who, what, and why of 2014: The Year of Omnicommerce. Today, we’re focused on the how.  From a payments perspective, how will customers interact with you when engaging across channels?   Omnicommerce means different things depending on your type of business.  Let’s look at three scenarios and how consumers are likely to interact and pay with these types of retailers: Quick Service Restaurant You’re a fa...Read More

Word(s) of the Day Wednesday: Regulatory & Financial Terms

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Beyond payment types, payment processing terms, and currency terms there are regulatory and financial aspects of payment processing you need to be aware of to successfully accept online payments.  That’s why in our Payments Dictionary: 205 Words Worth Knowing we explore that side of the equation.  Today let’s define some regulatory terms that may impact your payments program: DURBIN AMENDMENT Part of the Dodd Frank Wall Street Reform and Consumer Protection Act (intro...Read More

2014: The Year of Omnicommerce

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  • Industry Trends Payments 

Brands and retailers have been talking about the notion of omnichannel or omnicommerce for some time now.  Omnicommerce can be defined as a retailing strategy concentrated on a seamless customer experience through all available shopping channels.  The conversation has been building and retailers are beginning to implement their omnichannel strategy. 2013 shopping trends indicate that 2014 may be the year of omnichannel.   RSR’s report Omni-Channel 2013: The Long Road ...Read More

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