Important: The following new rules by Visa are mandatory for recurring payments starting April 18th, 2015, please make sure to comply by then.
Do you run a subscription business and want to build trust with your customers while reducing the amount of chargebacks you receive?
By selling products or services that are paid for regularly (e.g. on a monthly basis), you and your customers enter, what Visa calls, a recurring transaction agreement (RTA). An RTA is a token of trust between you and your customer, which is why it is that important to convey this trust to him by being transparent about your services.
Visa has set up new rules that will become active on April 18th and we will help you do just that. How do they help? By following these new rules, your customers will know exactly what to expect from subscribing to your service. No unpleasant surprises for your customers, less chargeback costs for you.
Credit cards either get stolen or lost, and chances are it can get into the possession of somebody with the wrong intentions in mind. Fraud happens when the credit cardholder has not authorised the transaction. As a merchant, this can get fairly costly for your business with high chargeback fees and loss of sales revenue.
But while there’s always a risk you’ll be vulnerable to fraudulent transactions. There are measures you can take to ensure it is kept to a minimum and where you can rest easy knowing your e-commerce website is for the most part safe.
In this post I want to highlight a few red flags you should be keeping an eye on.
Having worked in e-commerce for the past four years, I’ve seen many arguments for and against 3-D Secure (Verified by Visa and MasterCard SecureCode). The majority of these against focus on an apparent hit on your conversion with 3-D secure, which adds an additional step to your checkout and increases the friction experienced by your customers paying for their purchase.
Whilst this makes sense, most of these studies and articles forget that 3-D Secure was first developed by the card networks to reduce the number of fraudulent transactions. In this post I wanted to take some time to focus on the positives of 3-D Secure, and why a store owner might want to consider adding it to their checkout process.
Just starting up, bootstrapped and looking for customers? Welcome to the world of every early-stage startup.
So what can you do to get your startup in front of your target audience without having to spend a fortune on online advertising.
Photo courtesy of Markus Spiske/Flickr
Sure, you’ll get a boost for when you launch your product, but what about all that time in between major updates and product launches – what do you do then? You’ll need something that attracts people to your startup without speaking too much about yourself and your products, which is where the role of content marketing starts to play an important role.
Content marketing is essentially creating valuable, relevant and consistent content for your target audience, which ultimately gives your audience a reason to come back to your startup
But starting anything new is challenging, which is why it’s always a good idea to learn from the best. Here I’ve listed six startups (in no particular order) which I personally follow and think they do a stellar job engaging potential customers.
It’s quite obvious why you should consider your customer’s feedback. You want to take the right decisions and you want to know if you’re still on the same page as your users. Great! Of course there are a ton of ways how to gather your customer’s feedback: it can range from a survey to in-depth interviews to product usability tests.
For ways how to test your product, e.g. your website, check out our recent post on online testing tools. Assuming you do not have a high-digits budget to conduct market research through a service provider, here are five practical steps how you can receive structured customer feedback. (Market researchers please do not continue to read…) Read more
Editor’s note: This is a guest post by Thomas Peham, who is a Marketing Manager at Usersnap
When it comes to developing an ecommerce site, everyone is aware of the importance of testing the web pages before going live. Due to a variety of reasons, the testing process isn’t well prepared and executed in a great amount of projects.
Whether there are smaller errors, or more critical ones, with the great number of different browsers and devices, it is our responsibility – as web developers, designers and project managers – to ensure that our website or application is performing adequately. In this blogpost I’ll show you how to get started with proper testing for your ecommerce site by making use of these five tools.
Being at an online payments provider, we tend to come across many different online shops everyday. And it’s always refreshing when we come across something we haven’t seen before and concepts that significantly improve the buying experience.
With so many online shops out on the web, shop owners can have a tough time standing out and being remembered. Typically, a major thing that attracts returning customers, is a good user experience (UX). And in the past, we highlighted nine things that make online shops successful, which were:
- Product reviews
- Quality images
- Easy checkout process
- Fast loading times
- Quality design
- Displaying related products
- Easy store navigation
- Excellent copy for product description
- Fantastic customer support
In this post I’d like to focus on the first step of the checkout process and draw your attention to four checkout concepts originally published on Codrops.
No matter what fast moving consumer good you’re purchasing – in most cases you can always find a subscription for it.
The busy consultant, who gets new black socks every month (London Sock Company), the girl next door, that wants to try out cosmetics every month (LoveLula), the old lady whose subscription is filled with treats and food for her dog (Barkbox).
Everything seems to be “subscribable” nowadays. The old-school model of newspaper-subscriptions is not even considered as an example anymore. Subscriptions have conquered almost every online business and guys can now also get their razors delivered straight to their doorstep (Dollar Shave Club).
For that reason, we want to improve our subscription solution for our users.
And to get a better understanding of what you need and want, we set up a short survey.
If you run a subscription business and have five minutes to spare – we’d love to get your opinion!
TAKE THE SURVEY
We’ll also publish the results of the survey later so be sure to follow PAYMILL on Twitter.
Editor’s note: This is a guest post by Edvinas Mancas, who is Business Development Manager of Lithuanian startup BatCrab.
Vilnius, Lithuania by Eugenijus Radlinskas via Flickr
Who could foresee Lithuanian economy transformation from a post Soviet industrial era to a very efficient, fast-changing and extremely profitable startup ecosystem?
Anybody who thinks startups are all about fun and free Red Bull is deluded! Sure we manage to play a game of table football at the office, but it’s back to work after recharging our batteries.
Startups are about growth! And that usually includes a massive list of to-dos, very little time and limited resources to finish them all. In a startup you need to be delivering everyday. Otherwise you can say bye bye to growth.
What’s more is that your role and ability to execute quickly also has an effect on the others around you. Others are relying on you to get things done, and if you don’t, you’ll be holding your team back.
So what can you do to make sure you’re performing to the best of your abilities everyday. Here are ten tips on productivity to help you get through the day.