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Buy Now, Pay Later (BNPL) saw increased adoption in the ecommerce world when companies like Afterpay and Klarna came on the scene. These companies (and others) were convenient ways for businesses to offer Buy Now, Pay Later options with less work and risk for themselves. But is it worth using at your business? In this …
The Scoop on “Buy Now, Pay Later” Payment Options Read More »
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With consumers now regularly shopping on the internet, it’s more important than ever for businesses to be able to take credit cards online. Securely accepting payments on your website is convenient for customers, and could boost sales.
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Recurring or subscription billing gives you the confidence of a semi-guaranteed income. It makes managing your finances a little easier, lets you plan for the future, and gives you a cushion against financial shocks. When you understand how many new customers you’re taking on, and how many you’re losing (the “churn” rate), you can also …
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Any business with subscriptions or memberships is familiar with recurring billing and saved payment information. These options allow you to securely store customers’ card data to automatically charge their cards when it’s time to renew their subscription or membership. This type of billing provides predictable revenue and better customer retention. But it’s not without its …
Dunnings: Handling Declined Transactions in Recurring Billing Read More »
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You’ve probably experienced them at the gas station and when checking into a hotel. They serve a purpose, but can come with hidden costs that business owners need to know about. What is a “pre-auth?” A pre-auth (pre-authorization hold) is a temporary “hold” on an amount of the customer’s money when they use a credit …
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When is AVS used? Address Verification is used in all kinds of credit card scenarios. It’s most common in ecommerce and other “card-not-present” transactions, as those transactions have fewer alternative means of verifying a cardholder’s identity. But AVS can be used in person, too. AVS is also one component in qualifying for enhanced data (level …
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While credit card theft and other common types of fraud are decreasing because of EMV chip cards and new security technology, low-tech friendly fraud is on the rise. Remember, EMV cards don’t provide any additional protection for you or customers in ecommerce transactions. If you run an ecommerce website, it’s worth knowing about the tools …
The Rise of Friendly Fraud – and What You Can Do to Prevent It Read More »
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At CardFellow we’ve heard it all, so we decided to address these myths and misinformation. Chip cards are an evolution of card-based payments, and it’s important to understand the differences between chip and magnetic stripe cards. If your business still hasn’t upgraded to accept chip cards (or you have, but don’t know much about why), …
