When it comes to payment authorizations for your online sales, the growing need for advanced security is often times at odds with the customer experience. While consumers are aware of cybersecurity risks, the perception that there are too many obstacles during the checkout process can often lead to abandoned carts. For consumers who order from you often, the friction at checkout can lead them to look elsewhere. How can e-commerce merchants achieve the necessary security to keep their data, and their client's data safe, while still satisfying a speedy, frictionless checkout process with less false failures?
Topics: Card Security
With CNP fraud on the rise since the EMV chargeback liability
It's a mighty thought to ponder given the latest data released from JP Morgan, but the state of all commerce is posed to take advantage of today's shoppers. The internet has opened up a wealth of product knowledge, consumers can research products, compare specs and read reviews well ahead of buying time. But, will the desire for instant gratification and a hand's on in-store buying experience ever disappear?
Report Confirms EMV Expectations: Counterfeit Fraud Down, CNP Fraud Up
According to a July 2016 Card Fraud Control Benchmark Study from Auriemma Consulting Group, counterfeit card fraud has reached its lowest level since 2013, falling 18 percent in Q1 from the previous quarter. Counterfeit fraud losses have declined steadily relative to other categories since the industry’s EMV liability shift took effect late last year, and have decreased by nearly one-fourth since their peak in late 2014.
Last year at this time, news feeds in the payment card industry were abuzz with information about the Chargeback Liability that was taking place in October of 2015. Not to disappoint, new deadlines have been set for October of this year that will have card security pundits talking. The first impacts Visa card issuers, and will be a blessing to both consumers and merchants when it comes to diminishing fraudulent card use via alerts. The second brings EMV back to the forefront, with a new deadline for ATM's to accept EMV chip cards. Here is some education on both deadlines:
ALERT: If you use a gateway or virtual terminal for payment processing --- Pay Special Attention (Remember, most integrated POS systems connect to a gateway).
EMV in the US has made life only slightly more difficult on fraudsters, finding the new security too cumbersome to overtake. So instead of wasting time hacking POS systems, hackers have taken to bypassing them altogether and focusing their criminal efforts on hijacking merchant Gateway accounts. They are accomplishing this simply by "acquiring" Gateway API credentials and Gateway user credentials, and are finding merchants to be ideal prey.
New SuiteApp, Solupay® for NetSuite SuitePayments®, Meets the NetSuite SuiteCloud Platform's Development Standards and Documented Best Practices
TWINSBURG, Ohio--(BUSINESS WIRE)--Solupay, a payments technology leader for credit card payment processing, announced today that it has achieved the ‘Built for NetSuite’ status. The new SuiteApp, Solupay® for NetSuite SuitePayments®built using NetSuite’s SuiteCloud Platform, provides enhanced functionality that can reduce fraud, cut payments acceptance expense and eliminate manual processes when accepting payments within NetSuite.
Topics: Payment Gateway Solutions
May 16, 2016 06:00 AM Eastern Daylight Time
TWINSBURG, Ohio--(BUSINESS WIRE)--Solupay today announced its Silver Sponsorship of SuiteWorld16, NetSuite’s annual user conference for customers, partners, media and industry analysts, being held May 16–19, 2016, in San Jose, Calif. NetSuite’s SuiteWorld16 is the #1 Cloud ERP conference, with more than 8,000 expected attendees coming together to get inspired, network, celebrate cloud success, gain industry knowledge and share insights and best practices.
If you are an online retailer, you know all too well the importance of creating a checkout that is as easy as possible and in as few steps as possible. But creating an easy, frictionless checkout becomes complicated when you add in necessary security features to process payment transactions. It is very easy for an online shopper to abandon their cart, change their mind, or Google their purchase elsewhere. Now there is a process called 3D Secure Advanced that has accomplished secure checkout, without the friction of the original 3D Secure. Here is how:
Topics: Card Security
Accounts receivable is truly the lifeblood of any business that extends credit to customers. Manage it effectively, and you can grow your business strategically. Manage it wrong, and you introduce inefficiencies and increase costs that erode margins.
Cloud Collect is a cloud-based tool that works with your current invoicing software. Using your data, Solupay's Cloud Collect creates workflows to help automate your invoicing operations, while providing valuable insights you can use to improve your cash flow.
Topics: Cloud Collect