Payments Blog

Day 1 at CNP with Cardinal!

Posted by CardinalCommerce
May 24, 2017 11:00:00 AM

The Card-Not-Present (CNP) Expo got underway yesterday, as many members of the digital payments industry converged in Orlando, Florida, for the conference. This is an important event in the industry, and the Cardinal team is at the conference to hear from some of the insightful and informative speakers giving presentations throughout the week.

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Topics: CNP

Cardinal at CNP 2017!

Posted by CardinalCommerce
May 11, 2017 8:30:00 AM

The Card Not Present (CNP) Expo is in less than two weeks, and a lot of members of the Cardinal team will be there! The event is packed into four days, from May 22-25, and will take place at the Rosen Shingle Creek Resort in Orlando, Florida. For all parties, this conference and expo will be educational, and will provide opportunities to learn about the newest developments in the digital payments industry.

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Topics: CNP

Day 1 at MAG with Cardinal!

Posted by CardinalCommerce
Feb 16, 2017 10:30:00 AM

This is the week! The Merchant Advisory Group’s Mid-Year Conference began yesterday, and many members of the Cardinal team are in Atlanta to take in the sights and sounds, and to attend all the different sessions at the conference. Everyone got there safely and luckily, it wasn’t too hot when they arrived.

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Topics: MAG, CNP, Consumer Authentication, Digital Commerce, EMV, 3DS 2.0

Cardinal at MAG 2017!

Posted by CardinalCommerce
Feb 7, 2017 8:30:00 AM

The Merchant Advisory Group’s Mid-Year Conference is coming up, and Ian Poole, the Sales Engineering Director at Cardinal, will be there and will be very busy. The conference takes place February 15-17 in Atlanta, Georgia, and will be an important event for merchants.

On Thursday, February 16, Ian will be moderating a panel on gift card fraud and some of the emerging challenges associated with this specific type of fraud. Over the past few years, gift cards and prepaid cards have become very popular among consumers, and subsequently, fraud rates on these cards have spiked.  Panelists include Dee O’Malley, Senior Director, Payment Acceptance at Best Buy; R.B. “Skeet” Rolling, COO at InComm; Sue Knotts, Manager of Retail Initiatives at Wakefern Food Corp., and Tanya Strawn, Senior Treasury Manager at Starbucks.

Additionally, Ian will be giving a presentation aimed at merchants entitled, “What 3DS 2.0 Means to You.” One of, if not the biggest story of the year in the digital payments industry was the long-awaited release of the 3DS 2.0 specifications. There is still some uncertainty surrounding the new protocols. Fortunately, Cardinal, and Ian, are here to help provide some clarity regarding this issue. You’ll learn what to expect with 2.0, how its focus on data will help issuers and merchants, what you need to know and how you can prepare.

The digital payments industry is constantly changing, and Cardinal will be there to support all of these changes. With One Connection to Cardinal, we can Drive your Digital Commerce.

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Topics: CardinalCommerce, CNP, Fraud, 3DSecure, 3DS 2.0, MAG

Chargeback Day and the Lessons Learned from the 2016 Holiday Season

Posted by CardinalCommerce
Jan 31, 2017 8:30:00 AM

Once again, the holiday season has come and gone, seemingly in an instant. During this two-month period, consumers continued to migrate towards digital channels, and away from brick-and-mortar stores, to do their holiday shopping. Consumers transacted via mobile devices at a remarkable rate, as evidenced by the surge in activity on Black Friday. November 25th, or Black Friday, became the first day in retail history to account for over one billion dollars in mobile revenue, totaling $1.2 billion, according to Adobe.

While the digital sector of the retail industry carried this momentum throughout the season, department stores underperformed, relative to their digital counterparts. While sales at traditional, brick-and-mortar stores still account for a vast majority of all retail purchases, the digital channel continues to gain share in the retail industry. This holiday season, brick-and-mortar sales fell 10 percent, and store traffic fell 12 percent however, average order value rose 4.8 percent, according to RetailNext. Despite the consistent, and continued, growth of the digital sector, consumers are still saving their biggest purchases for brick-and-mortar stores, even if they are spending less money at these stores over the course of the entire holiday season.

While online merchants have a lot to celebrate in the aftermath of the holiday season, they also have a glaring concern: chargebacks. Chargebacks, those transactions that are disputed by a consumer’s issuing bank, at the request of the consumer, are very prevalent for online merchants, particularly after the holiday season. Chargebacks occur so frequently after the holiday season that the second Tuesday in January has been dubbed “Chargeback Day.” If they’re not careful, online merchants can lose significant portions of their revenue to chargebacks and chargeback fees.

In addition to chargebacks, these merchants must worry about, and monitor, their conversion rates, the rate at which visitors of their website become consumers by making a purchase. Typically, merchants that create a frictionless consumer experience on their digital channels will have outstanding conversion rates, and will maintain a satisfied consumer base, which will create additional revenue. But, merchants that maintain a friction-filled consumer experience will consistently lose consumers and will see their conversation rates plummet, as these consumers will likely leave their website, and never return.

The holiday season is supposed to be the most wonderful time of the year. But if online merchants aren’t prepared, they will find coal, rather than revenue, in their stocking. Connect with Cardinal to learn more about Cardinal Consumer Authentication, how it can reduce chargebacks and how it can ultimately improve your online business. With your One Connection to Cardinal, we can drive your digital commerce.

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Topics: CardinalCommerce, CNP, chargebacks, Fraud, holiday, conversion rates, mobile, online shopping

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