The expansion of e-commerce has kept its pace, even after the COVID-19 pandemic has long since passed. It’s true that the pandemic sparked an accelerated demand for an online shopping experience, but its convenience is what kept it expanding even further. With it came third-party fraud and other new ways scammers tried to abuse business’s vulnerabilities.
As technology advances, so do fraudulent activities, along with their complexity. Merchants are facing new challenges each day because criminals gain new ways to exploit vulnerabilities. Among these fraudulent activities, it’s good to know what second-party fraud is, its differences as opposed to first-party and third-party frauds, and how to avoid and prevent them.
The goal of any online store is clear, and it’s to achieve a steady inflow of customers and increase revenue. The growth of the customer pool also comes with a growing need to protect them and keep their sensitive data secure from any eCommerce fraud. To be able to do that, you should know about all types of scams that could potentially harm your clients and your business.
Business owners should understand the reality of merchant fraud and its long-term consequences. If not dealt with properly and not prevented, these scams can significantly damage a business’s reputation, sometimes irreparably. That’s why it’s important to talk about defense mechanisms.
Choosing one of the best business cities in the US can be tricky since the nation’s economy is made up of over 30 million independent shops and nonprofits. So, what’s that one hot city that will give you all you need? Whether you’re relocating the office or launching a startup, you should be completely certain that the environment is right for you and your enterprise.
For most merchants, simply hearing someone mentioning chargebacks sounds stressful. Especially if it’s a type they are unfamiliar with. So what about return item chargeback? Are they a new type of fraud? In essence, they are not really chargebacks at all, so let’s break it down.
Congratulations! You’ve come up with a fantastic idea to start a new small enterprise, but you just don’t know what the best cities to start a business are. Don’t worry, you’re surely not the only one who is wondering the same thing at this moment. However, the answer to these questions will require some investigating first.
A merchant ID or MID is an extremely important piece of data for your business and online payments. With so many transactions happening each second, you probably wonder how all these different entities can tell who is paying where, what the route of that transaction should be, and how the payment gets to the right recipient. The merchant identification number is the answer for that. Let’s see how it works and what else you should know about it.
It never hurts to know how much you can save.
