Online merchants are thriving more than ever, and it is expected that the next two years will be the most lucrative ones yet. Unfortunately, fraudsters are following trends as well, and as the marketplace continues to expand, eCommerce fraud is becoming an increasingly bigger problem. eCommerce fraud protection is a serious topic that every online business should consider seriously, and you can begin by getting to know what kind of scams exist.
If you are new both to the e-commerce and cashless payments world, but you want to expand your enterprise and draw new customers, you should get accustomed to the terminology. At first, it may seem that payment gateway vs. merchant account are similar things or that your business can run without one of them. But in reality, you will need to use both.
Currently, PayPal is the most used payment method among merchants, but it’s not the most popular or liked. Many use PayPal for their businesses as a means to an end without knowing an alternative solution – Merchant Chimp. So what makes it better, and who wins in the battle of Merchant Chimp vs PayPal?
When opening a business, it’s crucial to understand the differences between some vital services for your company. While they may sound similar, each does something different and important for you, whether legally or practically. Today, you can learn the answer to the question of what is a payment processor and how it’s different from gateways.
In order to achieve a successful online sale, there are many components that have to work flawlessly. As a business owner that wants to incorporate e-Commerce to drive sales up, you’ve probably heard many different terms related to it. So, what is a payment gateway vs. a payment processor?
Owning a business nowadays can not be imagined without some sort of credit card processing. More and more people prefer to use cash-free or online purchases. And if you are a merchant, you will want to have all the options available for your clients. There are third-party payment processors you can sign up for, aside from credit card processing companies. But how to choose the right option, and what is a third-party payment processor? We will try to answer this and many more questions.
Cashless payment methods have changed the way we trade. Many small businesses succeeded in scaling their companies thanks to innovative technologies, like a wireless credit-card machine, which enabled them to accept payments out of their stores. Not only are buyers more likely to spend when using plastic, but they are also ready to give up on a purchase if their preferred method of paying is unavailable. For that reason, providing your clients with more options to pay is of essential importance to boost your sales.
Each time a transaction takes place, your payment processor returns a response code. However, not every payment transaction is allowed. That is the time when you might receive one of the First Data decline codes. Some of them are more common than others, but it’s always helpful to know more about the codes you can receive. Read our guide and learn about the response reason codes that might pop up during an unsuccessful transaction.
It never hurts to know how much you can save.
