For an online merchant, the most important measure of success is almost always the conversion rate: the more customers complete the checkout, the higher your revenues. But there is an equally significant metric that many merchants struggle with, that can impact your business: decline rates. Here are some ways businesses can combat credit card decline rates to ensure success.
With the holiday season not too far off, retailers are already getting ready. It is important to start looking at what your customers want and expects in the weeks and days leading up to the holiday shopping season. Millennials are particularly an important demographic to look at when it comes figuring out how to begin the holiday preparation. Here are a few tips to get started before the holiday rush.
Although the jury is still out as to whether the Summer Olympics in Brazil will serve as a vital lifeline or a costly folly, there is one aspect that inspires universal agreement: Olympic participants, hundreds of thousands of visiting fans, and even native Brazilians need to feel secure and comfortable when making purchases in a country well known for its credit card cloning activities. Here are several examples of how to win in the payment Olympics.
Aside from the uncertainty regarding the longevity of these payment solutions, there is also the question of regional preferences. A solution which may be appropriate for one area of the world might not work at another. Before making a decision, let’s take a look at some of the payment options available at the beginning of 2016.
Less than half (41.9%) of merchants who took the MCM Outlook 2016 survey said their ecommerce sites are set up for global business. And 37.8% of those who say their ecommerce sites are set up from global business say it’s because they have international payment offerings. In this video, Zooz’s Chester Ritchie talks about why merchants need to choose a payment platform that allows comfort for the cross-border shopper.