Online lending and alternative lending companies are sprouting like weeds. Regulations, though well-intentioned, are in a patchwork stage of sorts. Sunday’s Money 20/20 seminar, The Implications of Regulation and Self Regulation for Online and Marketplace Lenders, addressed the issues of regulation, trends and a wish list of sorts from an expert panel from the likes…
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Wait…I Never Opened an Online Shopping Account at Walmart
On Thursday morning, I received an e-mail from Walmart.com stating, ‘Congrats on creating your Walmart account.’ It looked legitimate, spot-on actually. I even hovered over the links to see the e-mail addresses to which they are linked — all legitimate, but I didn’t dare click, airing on the side of caution. The ‘Congrats’ message was sent…
High Risk Solutions and 60-70% Revenue Shares: Meet with Us at Money 20/20
Instabill will attend Money 20/20 Sunday through Wednesday (Oct. 23-26) at the Venetian Las Vegas to showcase new payment solutions and 60-70 percent revenue shares through its affiliate program. Instabill will be represented by CEO Jason Field and Senior Copywriter Chris O’Donnell who will be on hand to discuss the company’s domestic and offshore/international payment…
Why Payment Processing for Purchased Debt is Nearly Impossible
We’ve blogged frequently about the difficulty we have in finding payment processing solutions for debt collection merchants, especially recently. Sometimes we’ll get a pre-application from a collection agency merchant who buys debt for pennies on the dollar, and is looking to collect on it. We unfortunately have to break it to him: Of all the…
5 Examples of Compelling Evidence to Fight Chargebacks
Chargebacks are the bane of an e-commerce merchant’s existence. Especially fraudulent chargebacks. E-Commerce merchants are not defenseless, however. We blogged back in April about how online merchants can fight chargebacks and friendly fraud with compelling evidence – and they are. With friendly fraud consistently increasing, coupled with more stringent chargeback regulations from the credit card…
Who’s Getting the Brunt of Online Fraud Attacks?
It is no secret that online fraud attacks are sharply on the rise, nearly 140 percent over the last year. It’s the unfortunate byproduct of EMV credit cards foremost, but consumers can also blame vulnerabilities in mobile commerce and aggressive hackers anxious to pounce on the penetrable card-not-present channel. According to a recent whitepaper from…
Facebook Marketplace Taught Lesson in Transaction Laundering
A couple of months ago, we blogged about the prevalence of transaction laundering – the act of using a legitimate merchant account to sell illegal and/or illicit products or services online. A week ago, Facebook debuted its new app Facebook Marketplace, and received a first-hand education in transaction laundering when it discovered a number of…
Attention Payday Lenders: Less Than 48 Hours...
Payday lenders have less than 48 hours to share their opinions with the Consumer Finance Protection Bureau about its proposed reforms. In a nutshell, the Bureau is calling for all U.S. payday lending merchants to ascertain – before any loan is granted – that a borrower has the means to repay the loan in an…
Why You Should Care About National Customer Service Week
We blogged recently about the importance of capitalizing on holidays and events to boost sales and break into new markets. National Customer Service Week, Oct. 3-7, plays directly into that idea. The mere fact that an e-commerce merchant is aware of National Customer Service Week shows a consumer that the merchant is mindful of such…