How Problematic Are Chargebacks for Business Owners?

Chargebacks for Business

Chargebacks are a reality of accepting credit card payments. While many chargebacks are requested for valid reasons, there are plenty of cases in which disputes are initiated despite the merchant holding up every aspect of their end of the bargain. Unfortunately, many merchants don’t really understand the dispute process, how to handle a chargeback, or the consequences that chargebacks represent to the health of their businesses. Those consequences can include unexpected drains on revenue, penalties levied by the card companies, and across-the-board rate increases. 

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Are You Doing the Right PCI Self-Assessment Questionnaire?

PCI

Part of establishing PCI compliance and maintaining it year in and year out is filling out an annual PCI self-assessment questionnaire (SAQ). These questionnaires are designed to accomplish two goals: to help businesses identify weaknesses that need to be dealt with and to help prove to institutions that a company is compliant. But not all companies handle credit cards in the same way, so PCI has put together nine different versions of the SAQ. The difference in length and complexity between the shortest and longest versions is extreme – 22 questions versus 329. As a result, it’s important that companies select the proper SAQ for self-assessments because choosing poorly could result in under-analysis, or alternately, a lot of unnecessary work. Below is a quick review of each SAQ version to help with proper selection. 

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Clover GO vs. Square – Which is Better for You?

Merchant Services

Square is almost synonymous with phone-based mobile payment processing, but Clover – a company owned by processing giant First Data – has been carving out their own chunk of the market and making a name for themselves with availability in retail settings like Sam’s Club. Each company offers a small card reader designed to integrate with all iOS and Android smartphones, and while the hardware is incredibly similar, there are enough differences in the software and fee structures to make doing a little research well worthwhile before choosing one over the other. Below we provide a quick analysis of where each option shines, where the two companies fall short, and which option wins out in the end. 

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5 Effective Tips to Win More Chargebacks

Chargebacks

Chargebacks are a reality of accepting card payments, and no merchant doing any significant volume can avoid them altogether. Sometimes a chargeback is outright fraudulent, and many are the result of poor customer service or misunderstandings between merchants and customers. But whatever the reason may be, merchants need to be ready to fight back when disputes arise. Knowing how to respond is the key to success, and the following five tips represent effective ways to improve dispute responses to ensure more victories and less lost revenues. 

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Is A Flat Rate Good for Your Business? – Spoiler: Probably Not!

Bad for Your Business

What makes a reasonable transaction fee? Amazingly enough, a lot of merchants never ask themselves that question, and failing to think about fees almost guarantees overpaying them. Flat fees, like the kind charged by PayPal and Stripe, are probably among the most common out there. They’re straightforward and easy to grasp, and as a result, many merchants simply accept them and never give it a second thought. And while flat fees – like PayPal’s 2.9% + $0.30 on all transactions – are fine for some businesses, for others, they represent massive waste and a drain on profitability. 

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How PayPal’s New Refund Policy Impacts Your Business and What You Can Do About It

PayPal, Square, or Stripe

On May 7th, 2019, PayPal updated its user agreement and made a big change that impacts every single one of their sellers in an inarguably negative way. Prior to the change, any time a refund was provided to a customer, the slice of the pie that PayPal had taken on the transaction was returned to the seller. That’s no longer the case, and PayPal will now be keeping that fee regardless of whether a transaction is refunded or not. The decision represents a big problem for high-volume and B2B sellers, as well as sellers who sell high-ticket items that carry hefty transaction fees. A large number of sellers are balking at the change, and with good reasons, considering it doesn’t just nullify revenue, but actually takes money out of a seller’s pocket based on something that, in many ways, they can’t control. 

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What the Discontinuation of QuickBooks Desktop 2016 Means to You as a Merchant

QuickBooks

On May 31st, 2019, QuickBooks discontinued support for their QuickBooks Desktop 2016 accounting and finance software – one of the most popular accounting and productivity tools available. That discontinuation was planned and shouldn’t come as a surprise to any Desktop 2016 users, but it still causes headaches for QuickBooks’ large 2016 userbase, annoying some even more so considering that the 2016 version isn’t all that old as far as software goes. While the discontinuation doesn’t totally brick the software for current users, it does cause some notable limitations in popular features and addons that many users – especially at the enterprise and pro levels – will need to figure out a solution to. 

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10 Effective Ways to Prevent Shopping Cart Abandonment

Shopping Cart

Cart abandonment is one of the biggest problems plaguing online merchants, and 88% of all consumers have abandoned a shopping cart without completing the transaction at some point. That makes minimizing cart abandonment a key goal for online merchants looking to maximize revenues and profitability. Here are ten of the best eCommerce tactics merchants can use to stop cart abandonment and see more customers through to order completion. 

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