Time flies, but nothing stands still in the credit card payment industry. Whilst the economy is bouncing around and tightening up, use of credit card is growing monthly and globally. We consistently come across new processing opportunities, challenges and market opportunities in our field of internet credit card processing that can benefit the merchant looking for more and easier ways to be paid safely. It is exciting for us to be serving you in this continuously evolving field of opportunity. Here's what 's being served up of late . . . .
Restricted Card
We have had some bank and Visa issues related to refusal for processing of restricted cards. (Visa really threw the banks a curve ball with this one!). This was caused by some confusion between Standard Bank and Visa on the content of their restricted card list. Whilst some of the bins related to debit cards that cannot be processed on the internet, unfortunately some credit cards were in the list of restricted cards. The problem has largely been sorted, but there are still some isolated cases.
More secure with 3D Secure
Well we certainly have all been put through challenges with the implementation of 3DSecure - a brilliant concept with a rocky start. We have wherever possible tried to shield you from the 3D problems. On the other hand, it is now working much better and based on some recent large scale fraud activity on non-3D merchant accounts, 3D is still the winner in terms of consistent fraud protection for you. 3D has been mandated by Visa and Mastercard and as a result, fraud is rapidly shifting to non-3D merchants.
New Product - Automated Recurring Billing by Credit card - PaySubs
We have recently launched PaySubs for easy offline or online automated processing of recurring credit card payments. Ideal for club memberships or list processing. PaySubs can be used and initiated by your customers on your website or set up and initiated and managed by you through the back office. Give us a call or email us if you would like to know more.
New Product - Electronic Bill Presentation and Payment - PayBillMinder
We have partnered with BillMinder for SARS-compliant secure electronic bill presentation and payment (EBPP) for you. PayBillMinder automatically and securely presents your bills online and your customer can click to pay with their credit card.
Online still a growing MoneySpinner
An article in IT Week quotes from Arthur Goldstuck the ecommerce guru and MD of World Wide Worx saying that despite the fact that consumers are tightening their belts, online shopping is still growing as local users get more comfortable with transacting online. A selection of local e-tailers' December 2008 sales were up between 30% and 100% over the previous year. Goldstuck suggests that interest rate hikes benefit online retailers as consumers turn to the web for better deals.
Online gaming in South Africa
A recent article on www.mg.co.za reports that online gambling is currently illegal in South Africa, but the Department of Trade and Industry has given a draft amendment Bill (which will allow for the licensing of online casinos in South Africa) to the Cabinet for approval. Brick-and-mortar casinos in South Africa paid R2,1-billion in gaming taxes and VAT in 2005, of which the government received 37%. The online gambling industry in South Africa is growing rapidly and some say will grow tenfold in the next five years. The new US Bill outlawing or restricting online gaming, wiped out $7-billion from a $12-billion industry. Online sports betting in South Africa has been legal for two years.
PayGate Personality of the month
Lesley (nom de courrier électronique "Sam" short for Sales and Marketing) is the always joyful voice you hear when you first call PayGate. Lesley is the epitome of the Disneyworld song "Always look on the bright side of life" and for those of you who have experienced her bubbly personality on the phone, yes, she is always like that! Lesley is a busy bee in her spare time - is an avid amateur photographer, does design and marketing of a local band and their merchandise, and is a regular social Sunday golfer. In her own words "Then there's my crazy side - loving life and it's adventure - along with all the fun from Friday to Sunday..."
Happy processing
The PayGate Team
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