New regulation is rarely a good thing, but Visa has made some recent changes that could really impact your bottom line in a good way. In the newest wave of changes, Visa is revitalizing how they interpret and process for recurring transactions relating to stored credentials.
Friendly fraud has been on the rise, costing merchants billions of dollars a year in losses, and may account for nearly half of all chargebacks. I laugh at the term “friendly fraud” because there’s absolutely nothing friendly about it.
You open your business. You build the best product you can and get some amazing partners. You pick the first merchant processor that pops up on a web search with a good rate. Your sales are rocking. Years later you get hit with chargebacks because a shady client managed to push through dozens of bogus charges. That’s when it matters most which payment processor you chose.
