On June 28th, the European Commission unveiled its proposed revisions for transforming the EU’s payments law. Known as the third Payment Services Directive, of PDS3, these new regulations aim to strengthen consumer protections and competitiveness in the electronic payments realm. The European Commission has recently proposed this as a shift toward a more digitally-driven and broader financial landscape. It should …
Continue reading
Anyone in fintech will tell you that business-to-consumer advances have largely propelled innovation. That said, some commentators have observed that, in the near future, business-to-business advancement is going to be the force driving innovation as it tries to catch up. These commentators expect B2B innovation to catch up and eventually pass B2C innovation on its way to fintech dominance. While …
Continue reading
As I’ve discussed a few times on this blog, the pursuit of industry collaboration in recent years is a positive development. This is especially true given that United States regulation around open banking will make it a necessity, sooner or later. Last October, the Consumer Financial Protection Bureau (CFPB) unveiled a new open banking framework. It will have far-reaching consequences …
Continue reading
In the eCommerce market, you always have to be on the lookout for “the next big thing” to help offer a competitive edge. Bots and new technology can help businesses drive sales online by creating a more personalized, one-on-one experience for buyers. This is part of an increasingly popular strategy being referred to as conversational commerce. Conversational commerce presents some …
Continue reading
The Paypers recently published an article discussing a new study from the ECB about how fraud is on the decline. The data enclosed in the report helped shed some light on some key card fraud trends. In 2021, such fraudulent activities took a downturn, dipping to the lowest point since the initiation of data collection practices. This represented 0.028% of …
Continue reading
I’m very excited to announce the appointment of payments industry leaders Guy Harris and Eric M. Hoffman to Chargebacks911! Guy is joining us as our new Chairman of the board, while Eric will take a position as our President of Interbank Solutions and will also serve as a board member. This is a fantastic development; it’s rare to find two …
Continue reading
As the founder of Chargebacks911, I’ve taken it upon myself to champion the cause for a more nuanced approach to accountability within the diverse fintech landscape. This includes all the players in the game: money movers, payment processors, and software technology service providers. All work together to serve as a conduit for payments. In recent years, the fintech sector has …
Continue reading
Just recently, the Federal Trade Commission (FTC) proposed changes to their Negative Option Billing rules for merchants. These changes could bear significant implications for subscription-based businesses. The FTC’s Negative Option Billing rules govern scenarios where customers are charged on an ongoing basis until they cancel a service. This is a common practice for subscriptions, trial offers, continuity plans, and pre-notification …
Continue reading
Taxes were due earlier this month. That got me thinking: what about chargebacks? Chargebacks can have a significant impact on your business’s reportable revenue. However, even a lot of skilled accounting professionals are unclear about how chargebacks, and the revenue lost as a result, should be reported for tax purposes. It’s important to know how to report chargebacks to the …
Continue reading
For a lot of value-conscious shoppers, certainty in what they’re buying is more important than getting a deal on an unfamiliar product that may not work or that they may not like. Of course, that’s only true to a point. Many decisions that consumers make are based on habit. However, that habit is cross-referenced against a kind of internal “risk-and-reward” …
Continue reading