Payment Gateway News
Here are some interesting ecommerce news snippets most of which are from Finextra relevant to merchants looking for a payment gateway for their online credit card processing . . .
The UK economy is beginning to show signs of recovery, according to a survey by Maximiles of ecommerce transacting by two million British consumers which is good news for payment gateways.
British Retail Consortium published research on online fraud which showed that 85 per cent of retailers who sell online using a payment gateway have experienced online credit card fraud over the previous year and 64 per cent believe credit card fraud had increased over the last year.
According to a report from PayPal payment gateway, online retailing is set to almost double by 2012 whilst high street shopping will fall.
A bill is being introduced in the US to allow retailers to bargain collectively for credit card fees with Visa and MasterCard
Important news for payment gateways is that the latest CyberSource Fraud Report found that 41 per cent of people who do not currently shop online cite concerns about the security of online shopping as the reason.
Website sales have proven to increase if internet merchants do the following: display some sort of check for security reassurance on a site and a security padlock on browsers, process payments through a reputable online payment gateway, avoid using a PO Box address, simplify the payment pages, offer refunds, returns and exchanges, have a clear link to their after-sales policies, display testimonials from customers.
According to recent research, an overwhelming majority of respondents (68%) admitted that online payment fraud remains one of the most daunting elements of running an online business which makes it really important for payment gateways to provide effective credit card fraud prevention products such as PayProtector from PayGate.
Date Created: 2009-10-28 |
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