The global Covid-19 pandemic touched every business vertical in some way. Few felt the pain as acutely as the travel industry, though. According to the International Civil Aviation Organization, global air traffic dropped by more than half in 2020, from 4.5 billion passengers in 2019 to 1.8 billion. The organization estimates the industry suffered a $370 billion financial loss due …
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I’m going to go on the record here to tell you that it’s a good idea to present as many payment options as possible to customers at checkout. You just don’t wade into any of these options with your eyes closed. Just like BNPL and other alternative payment options, introducing one-click payments will probably boost sales to some degree. After …
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Merchants are pretty well aware of friendly fraud by now, and for good reason. The problem has been getting consistently worse for over the last decade. It’s also a compounding problem. Why is this the case? Well, there are many reasons, but chiefly, it’s because digital commerce has become increasingly popular in the last few years. According to Forbes, eCommerce …
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In previous posts, I’ve discussed the need for greater gender parity in all forms of business, but especially in technology and finance. But, despite a clear need for workers, women are still vastly underrepresented in both of these sectors. So, what’s going on here? Why does gender parity remain an issue in the fastest-growing industry in the US? Why does …
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According to the 2022 Chargeback Field Report, friendly fraud remains a major concern for 65% of merchants polled. Considering that the merchants involved in the survey accounted for nearly every vertical, this is a hefty statistic that bodes ill for eCommerce at large. So, what’s happening here? Why is friendly fraud still a big problem after nearly a decade of …
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This September, Mastercard is scheduled to roll out an overhaul to their Mastercom platform, called Mastercard Collaboration. This update, which is very similar to what Visa did with their Rapid Dispute Resolution initiative, will be a mandatory platform for Mastercard disputes. The idea behind Collaboration is that merchants will receive advance notification about pending disputes, instead of getting a Mastercard …
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Visa’s Compelling Evidence 3.0 (CE 3.0) initiative is scheduled to go into effect April 15, 2023. A large portion of it applies specifically to disputes marked with reason code “10.4/Other Fraud–Card-Absent Environment;” a code often associated with friendly fraud. CE 3.0 will let merchants share additional evidence in regards to 10.4 disputes, demonstrating that a sale was both legitimate and …
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Every time you turn around, there’s a new scam to watch out for. Indeed, as fast as technology advances, cybercrime seems in lockstep, ready to leap at every opportunity to benefit from new gadgets and software. Merchants are desperate for a break from cybercrime and tech-based attacks. They tend to shy away from emerging tech out of fear that it’ll …
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The world experienced substantial changes over the last twenty years, particularly regarding technology and payment trends. Every year tech gets easier and more profitable for merchants and consumers. It provides more secure payments and enables a broader range of convenient payment options. That said, new options and opportunities can also create questions about how to manage these technologies. Let’s look …
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Despite women making up nearly half of the U.S. workforce, they are still vastly underrepresented in the science, technology, engineering, and math (STEM) workforce. According to the Society of Women Engineers (2022), women represent about 34% of all STEM workers. Moreover, women comprise about 44% of STEM workers with at least a bachelor’s degree, which shows marginal improvement from 42% …
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