Pre-pandemic, the preferred payment alternatives among US customers were somewhat predictable. According to the Fed Reserve Bank of Atlanta, the most noticeable trends from 2018 to 2019 were a surge in online bill payments and a persistent drop in cash payments. Based on a countrywide representative survey poll of almost 3,400 clients, the average monthly… Read More »Will Customers Return to Their Usual Payment Habits Post-Corona?
A pandemic is a difficult time to run a business, but just how bad is the situation amid COVID-19? The most recent data by the Federal Trade Commission (FTC), the official protector of US consumers, shows a tough struggle among ecommerce merchants. Consumer complaints have surged significantly amid a crisis. Over 50 percent of those… Read More »FTC: ‘Product Not Received’ Complaints amid Corona Double Cases Recorded in Last Festive Shopping Spree
According to forecasts by eMarketer, a leading financial analysis firm, the overall ecommerce retail sales in US is expected to decrease by 10.4% before the close of 2020. Such a drop has not been experienced since the 8.3% drop witnessed in the financial recession of 2009. The market analyst also estimated that the US will… Read More »The Total Number of Retail Sales Will Drop But Ecommerce Firms Will Likely Benefit
The coronavirus disease has resulted in many changes to our normal way of life. People have to wear masks, sanitize regularly, observe distancing, and remain at home to avoid contracting the deadly viral infection. Businesses, especially physical shops, were adversely affected when the pandemic began to ravage the US early this year. A majority of… Read More »Experts Predict a Rise in Physical Store Shutdowns amid COVID-19
A chargeback or reverse charge is what happens when a credit card-owner disputes a charge made to a store and receives a refund. Usually, the card-issuing bank decides the case, and many times, the customer wins and gets an immediate reimbursement. A merchant has 3-4 weeks to challenge the chargeback by issuing the documents of… Read More »Top Ways to Safeguard Your Ecommerce from Chargebacks
In mid-June, Splitit Payments Limited publicized that it had entered a deal (that will last years) with Mastercard Inc. The former entered the partnership to speed up the adoption of its installment-payment offering for web-only merchants. The new deal may see Mastercard onboarding merchants that offer their customers Splitit as an alternative for financing. It… Read More »Mastercard Joins Splitit’s Increasing List of Payment Allies
