As discussed in a previous blog on this topic, the Payment Services Directive 2 (PSD2) is a new European Economic Area (EEA) regulation which will go into effect on September 14, 2019.Continue Reading
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Every business competing in the market today seeks a competitive edge, and one way that subscription businesses gain this edge is by offering multiple payment options. Letting subscribers use their preferred payment method can increase conversions. And preferences differ. In the US and Canada, credit cards dominate ecommerce, but purchasers in other parts of the world favor digital wallets, direct debit, and other payment methods. Demographics also play a role in what payment methods are preferred.Continue Reading
In an effort to combat card not present (CNP) fraud in Canada, Visa has announced an additional card not present mandate. The mandate describes expanded requirements regarding the use of the card verification value (CVV2) for Canadian merchants processing transactions via telephone or through e-commerce environments. Specifically, these changes require the following:Continue Reading
Checkout abandonment is the ongoing bane of ecommerce companies. Many such companies have dedicated product and engineering teams continuously monitoring and finding ways to increase conversion rates at checkout. One key to increasing conversion rates is removing friction.Continue Reading
Every business competing on the market today seeks a competitive edge. One way to gain an advantage is to stay up to date with the latest technology and trends. For subscription businesses, adopting new payment technology—such as Apple Pay—can give them the edge they seek.Continue Reading
As the subscription model continues to expand its share of the e-commerce market, more and more businesses see the revenue opportunities the model entails. Whether it’s subscription handbags or study aids, charitable giving or video streaming, businesses both established and upstart are adding a subscription component to the mix—or jumping in wholesale, having chosen the subscription model as the best way to meet their customers’ needs and desires.Continue Reading
First, the good news for e-commerce merchants: card-not-present (CNP) channels in the US continue to outpace total retail sales, according to the Dept. of Commerce. CNP transactions increased nearly 11% last month, compared to 2015, with sales totaling nearly $47 billion. June and July saw increases of 14% each compared to last year. In addition, as a result of EMV, card networks are reporting that counterfeit fraud has declined by more than 50% compared to a year ago. One top retailer even reported a decline of 90% in their counterfeit fraud just 30 days after implementing the EMV technology.Continue Reading
According to a new report by Worldpay, 13% of the world’s shoppers are “Super Shoppers.” They earn that distinction by shopping more frequently and spending far more extravagantly than the rest of us. Eighty-five percent of Super-Shoppers make a purchase at least once a week, and 15 percent do so daily. Perhaps they’re shopaholics or maybe just curating a collection of some kind. What drives their shopping habits is undoubtedly difficult to discern. But we do know one thing about them, from a payments perspective: they prefer credit cards.Continue Reading
Accepting payments is an essential task of any e-commerce business, including of course subscription businesses. Billing subscribers and receiving payments on a recurring basis add a layer of complexity to something that can already be fairly complicated. The world of payments is also tricky—involving infrastructure, complex processes, best practices, and security and compliance—all critical components of recurring billing. It’s somewhat unsurprising then to find out how many companies are unsure of themselves when it comes to payment technology.Continue Reading
Attention all billing and payment engineers and enthusiasts!
Recurly will be hosting the February meeting of the Bay Area Billing and Payment Engineers Meetup Group, and we’d like to extend an invitation to anyone interested in attending. Membership in Meetup or this group is not required. More information about this group is available here.Continue Reading