Before you commit, you need to consider the typical issues that come up in payment-related customer support. Cardholder restrictions, insufficient funds, and incorrect payment details are some reasons a payment fails. It’s inevitable your business will experience at least one of these situations, so knowing you can reach someone easily is very important.
Your payment partner must be capable of resolving these issues quickly and professionally through dedicated customer support so you can keep your business moving forward. Unanswered payment queries can turn into chargebacks, ultimately affecting your relationships with your international customers and damaging your brand's reputation.
Put some focus on identifying MoRs offering multi-language 24/7 customer support to ensure your shoppers are cared for.
Chargeback and Dispute Management
Unfortunately, completely avoiding chargebacks is impossible. turkey whatsapp number data
But there are several ways to ensure that chargebacks don't eat into your profits.
Through payment-related customer support and by addressing the core issue of the chargeback in the first place ( the causes could vary from the licensing model or the product itself to the target market and the geo-distribution of your customers), you are able to sort out misunderstandings and prevent them from becoming chargebacks. Your MoR needs to have the right tools and resources to adequately address the root causes of chargebacks. Otherwise, they will continue affecting your business.
Additionally, you need to fight the disputes to get your money if they turn into chargebacks. Ignoring them won't make them go away. In fact, they will be automatically settled in favor of the cardholder, and you might even have to pay additional non-response fees.
Remember, fighting chargebacks is regulated, so you must play by the rules if you wish to win. It can be a time-consuming, stressful, and complicated process, especially if you have no experience.
So, to save time and money, finding a reputable Merchant of Record, preferably one that can provide you with the needed support, knowledge, and experience to handle these operations in your favor, will go a long way in ensuring the success of your business.
Dynamic Customer Flows
Whether you are selling SaaS or video games, offering one-time purchases or subscriptions, optimizing your checkout page is an absolute must.
Whether shoppers are using their mobile phone or desktop to complete the purchase, your checkout page needs to:
Operate flawlessly without adding unnecessary friction on all device types.
Carry SSL and PCI badges to earn your shoppers' trust
Offer multiple payment options and currencies.
Accommodate different workflows ( up-selling, cross-selling, add-ons, upgrades, real-time tax calculation)
Consider working with a business model of this kind, having the technical means and experience to help turn your checkout page into your secret weapon for boosting digital sales.
Holistic Fraud Prevention & Protection
The benefits and necessity of detecting and preventing fraud boil down to one thing: more profit. If you choose to close your eyes to fraud and do nothing, you will inevitably lose money. If you prioritize security, you can boost sales, diminish your losses, and ultimately grow your business.
An MoR worth its salt will offer you a customized strategy based on your business and specific products. At PayPro Global, we consider each vendor as an individual and choose an approach that meets their needs instead of going for a one size fits all tactic that could lead to wrongfully declined transactions, revenue, and customer loss.
Comprehensive Tax Management
When shopping around for merchants of record, pay especially close attention to their experience with sales tax management. How are the providers you are considering handling global taxes, and where? Tax management remains one of the biggest challenges, with thousands of regulations prone to change.
You need to be certain that the MoR you partner with understands all jurisdictions relevant to your business.
Is PayPro Global a Merchant of Record?
Yes, PayPro Global offers a unique Merchant of Record model specifically created to aid SaaS, software, video gaming, and digital goods businesses to scale worldwide. With many years of experience in the payment industry, you can count on the platform to cover all of your needs and the team to be there for you with any further questions or concerns.
