Wednesday, March 27, 2013

Total Cost of Accepting Payments: 3 Big Things

Understanding the THREE BIG THINGS impacting the Total Cost of Accepting Payments

Calculating the total cost of accepting payments is so complicated and wrought with uncertainly that most companies have no idea how much it actually costs them to get paid.

There are THREE BIG THINGS impacting the total cost of accepting payments:

Interchange & Assessments
Nearly 99% of transaction costs are due to interchange and assessments. Rates and fees vary based on a number of factors, from industry segment to card type, region and acceptance environment.

Chargebacks & Fraud
Fraud losses represent approximately 1% of online sales, and often good customers are turned away due to false positives. Managing risk also requires significant labor and overhead for working outsorts and chargebacks.

PCI Compliance & Data Security
Managing a cardholder data compromise is very time consuming and can pose significant financial and reputational risks to a business. Unfortunately, the number of data breaches are increasing as cardholder data is a target of hackers. Successfully validating and maintaining PCI DSS compliance is important to reduce the risk of a data breach.

 

Solutions to Unleash Savings
Every cost managed drives value to the bottom line. With our global reach and international processing platform, combined with best-in-class solutions and knowledgeable teams of local experts, Elavon provides the solutions to help lower your Total Cost of Acceptance. Learn about our solutions

Resources
Sifting through all the news impacting payments these days can also be a challenge. Good news: we've organized resources from a variety of leading payment industry experts to help you easily find the information you need. Listen to the Payment Experts

See more at: 3BigThings.Elavon.com Back To Trending-Now-Articles