Even in circumstances as dark as those imposed by COVID-19, there are always the optimists who can find silver linings to every dark cloud. For example, some experts are big proponents of the benefits of a cashless society. Just this year, we’ve seen a coin shortage, clerks not wanting to handle potentially virus-carrying bills, the growing acceptance of crypto currency, …
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Particularly in the shadow of the COVID-19 pandemic, eCommerce is booming. Amazon—the largest retailer on the planet—saw their net sales rise 40% in the second quarter of 2020. That’s barely even news, compared to Walmart, which reported a 97% surge in online sales in the same period. And that’s following a nearly 75% increase in Q1. As if that weren’t …
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I spoke to a neighbor recently who mentioned his mother was having trouble paying rent. It’s not that she didn’t have the funds; her issue was literally paying the rent. For years, she’d apparently been using cash to purchase a money order each month, then mailing that to her landlord. This is harder to do these days, with most bank …
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I saw an interesting news item recently: Tesla has surpassed Toyota to become the world’s most valuable auto maker. According to the article, the company’s market cap increased by over 375% over the last year, making Tesla a more valuable global brand than others in the top ten, including Google, Apple, Microsoft, and Facebook. Whether or not you’re a fan …
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To be fair, the present is not the most opportune time for merchants in most verticals. For airlines and others in the travel industry, though, the bad news just seems to keep coming. Even before the fallout of the COVID-19 crisis was fully realized, enclosed spaces packed with people became something to avoid. Since that’s basically the definition of an …
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When we talk about ways to prevent chargebacks, we often mention refund and return policies as a primary issue. They may not seem directly connected, but they very much are. If your refund policy is too complicated, too arduous, or too difficult to find on your site, then it may be easier for the customer to shrug and say, “Forget …
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Any business leader worthy of the title knows surviving a crisis depends on having an emergency plan in case of disaster. That said, the COVID-19 pandemic in which we’re currently stuck is an unprecedented situation. I’m looking around today as many business leaders discover their definition of “disaster” wasn’t nearly broad enough. It’s not that these companies had no strategies …
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Like most of you, I’ve received multiple emails over the last few days from companies I do business with. From global corporations to local produce shops, everyone wishes to keep us informed of what they’re doing to protect employees and customers in the midst of the coronavirus pandemic. My company sent a very similar message to our own clients and …
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I see more and more eCommerce merchants struggle these days to maintain the right balance between effective fraud mitigation and an optimized customer experience. The motto of our age might as well be “I want what I want, and I want it now.” Unfortunately, the need to make online transactions as smooth and effortless as possible often clashes with merchants’ …
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According to documentation the company presented to banks this week, Visa is planning to restructure the rates US merchants pay to accept its cards. The largest such change in over 10 years, the move is part of an overall push to convert more check-writing consumers into payment card users.
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