In June of 2018, Adobe completed its acquisition of Magento, one of the world’s leading eCommerce platforms. With the acquisition, Magento Commerce Cloud was added to the Adobe Experience Cloud, giving Adobe full end-to-end coverage of every aspect of online store creation and management, from web design to graphic design, content creation, sales, order management, and payment handling. For Magento users, the acquisition represents no real change in the operation of their stores, but the Magento platform as a whole is now subject to some new factors thanks to the sheer size of Adobe, most of which are extremely positive.
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In 2018, almost 5,900 brick and mortar retail locations closed. 2019 has seen another 6,000 go the way of the dodo, and by 2026, as many as 75,000 stores will shut their doors permanently. The reality is, brick and mortar stores are expensive – far more expensive than their web-based eCommerce counterparts. As a result, physical retail locations often can’t match the prices offered by online competition. In cases where companies operate both online and brick and mortar stores, the majority of sales generally still occur in physical locations, but the gap is shrinking rapidly as people gravitate to the convenience of online shopping. And with services like Amazon Prime offering same-day free delivery, why wouldn’t they? Certainly, there are products – specifically high-end purchases – that will likely always require an in-person shopping experience. But for the average purchase – socks, video games, even groceries – why wouldn’t consumers embrace the convenience of shop at home, especially when the wait times for delivery are so low?
Continue reading “Should Your Business Have an Ecommerce Account?”
In part one of this two-part series, we looked at some of the technology-based solutions merchants have available to them to catch fraud early on and stop it before it can result in chargebacks and lost revenues. In part two, we’ll look at the other side of the coin – legitimate chargebacks filed by customers who feel like they’ve been wronged. These chargebacks can’t always be avoided, and sometimes all a merchant can hope for is a fast and easy resolution. But there are steps that merchants can take to minimize the number of legitimate chargeback requests they face, and they all revolve around understanding the customer-side of the equation and elevating the quality of service provided.
Continue reading “Part Two: Is an Ounce of Chargeback Prevention Worth A Pound of Cure?”
A seller receives an order and delivers on their end of the bargain flawlessly, only to later find that the money they earned has been clawed back due to a chargeback. This is an all too common scenario, especially in commerce online where purchases are made without any physical, real-world interaction between customer and merchant. It’s also a scenario that can be incredibly costly for merchants in more ways than just lost revenues. Large retailers can afford to dedicate staff to dispute resolutions, but for smaller merchants, chargebacks are often poorly understood, let alone effectively handled. But, with a little bit of knowledge and some careful planning, merchants both large and small can significantly reduce their need to handle them at all by taking the necessary steps to ensure they don’t happen in the first place. In this two-part series, we’ll examine the most effective ways merchants can do just that, using both the fraud prevention tools available to them and some customer service best practices.
Continue reading “Part One: Is an Ounce of Chargeback Prevention Worth A Pound of Cure?”
BAMS offers everything new and experienced merchants alike need to ensure that their customers’ sensitive payment data is always as safe as possible. We provide every one of our merchants with expert guidance through the sometimes complex process of becoming fully PCI compliant.
Continue reading “What Are the True Costs of Data Breaches?”
WooCommerce and Shopify are two of the leading e-commerce platforms in the world. Each is full-featured and designed specifically to aide online sales, but there are as many differences (if not more) than there are similarities between the two platforms. Below we’ll analyze four of the primary areas of comparison between the two platforms, and why, while Shopify has become a giant in the space, WooCommerce is the preferred choice of so many businesses around the globe.
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Minimizing risk is a task of great importance to everyone involved in online commerce and electronic payments, from the merchants right through to the credit card issuers. High fraud rates and chargeback rates can have a significant impact on merchants, even resulting in enrollment in chargeback and fraud monitoring programs that can carry hefty fees. Risk scoring is a tool to help merchants avoid those negative consequences by catching and stopping fraud as it happens, and more and more merchants are enlisting them in the never-ending fight against credit card fraud.
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Cyber Monday is the online sale event of the year. Since 2005, it has occurred every year on the Monday after Thanksgiving and is the opposite bookend to the more longstanding Black Friday sale. And while Black Friday might be the most important shopping day of the year when it comes to in-store brick and mortar sales, overall, Cyber Monday is now king, with almost eight billion dollars spent on Cyber Monday 2018. That shift means a couple of things: first, that Cyber Monday represents a huge opportunity for merchants to supercharge their holiday sales, and second, that competition for online shoppers’ attention is at a yearly high on that day.
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There are a number of factors that go into the success of a restaurant. Enjoyable food and friendly staff are two of the most obvious ones, but for a quick service restaurant, highly efficient operations are equally important. The ability to move a high volume of customers from the front door, through ordering, to enjoying their meal, and out again is absolutely crucial, and that focus on speed and efficiency is the main reason customer order kiosks are sweeping the industry. These kiosks provide a wide range of benefits to both customers and restaurants alike, making them an excellent choice for any restaurant looking to boost efficiency, customer experience, and revenue.
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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.
Continue reading “How Problematic Are Chargebacks for Business Owners?”