Page 26 - GS221001

er
CoverStory
v
St
o
r
Co
y
Mark Dunn chargeback ratios. Our Maverick dashboard has Visa
Field Guide Enterprises LLC RDR reporting built in, making it very easy to man-
age this to track performance. RDR has been the most
1. I see ISOs very interested in new relationships in sev- popular chargeback related product for us of late, so I
eral areas: Cash discount continues to grow with mer- anticipate more and more merchants will be adding this
chants in the Midwest where it has not penetrated as heading into the holidays. Aside from chargeback man-
much as in the East and West. Many ISOs are exploring agement, tools that can help merchants increase conver-
BNPL, CBD and cryptocurrency. sions and AOVs are also a topic of many conversations
heading into the holiday season. Merchants want to cap-
2. Not related to the holidays: ISV and developer rela- ture as many sales as possible and, especially if they are
tionships, B2B and B2G, bank channel. spending a lot of money on ads these next few months,
they want to maximize their ROI.
3. Eliminate all friction in any part of the sales process.
Don't be caught lagging in omnichannel selling. Educate 3. For ISOs and sales agents, I think it is incredibly im-
yourself about the integration process, and identify cost portant to stay current with all the latest and greatest
savings you can realize by choosing a different proces- industry trends and software. Our industry is constant-
sor. ly changing, so I would analyze your portfolio to see

Maurice Greifer, CPP where value can be added for merchants and, in turn,
you can increase revenue with your existing merchant
Maverick Payments base by proposing new products and services.
1. We are always seeking new partnerships that we feel
will be mutually beneficial for all parties, whether it is It never hurts to just ask either, so touch base with mer-
with new sales agents or ISVs looking to incorporate a chants to see how they are preparing for the holiday sea-
payments component within their software. These stra- son, and find out if they have any questions before they
tegic partnerships are what fuel our growth, and we get too busy. You never know. You may get some good
love getting creative to establish unique partnerships. ideas to share with other merchants.

We offer a ton of great benefits to our partners such as Merchants should always be proactive rather than reac-
white-labeling our proprietary dashboard and payment tive. Now is the time to analyze your payments setup
gateway, zero buy-rate programs, free terminal place- to see where things can be optimized, whether it is to
ment programs, high-risk acceptance with multiple increase conversions, increase AOVs, or better protect
sponsoring banks, ACH processing, seamless onboard- against fraud. Ironing out the kinks and having enough
ing, and our white-glove support. time to test new software or processes before the busy
holiday season will set you up for greater success. Noth-
2. The holiday season is always a great time for mer- ing is worse than trying to make big changes during
chants and processors with larger volumes processed. Black Friday weekend.
However, the downside is the chargebacks that follow Allen Kopelman
after the holidays. For ecommerce, where we really ex- Nationwide Payments Systems Inc.
cel, the inquiries heading into the holiday season are
usually surrounding fraud prevention and chargeback 1. I think the payfac model is going to grow, and it is
management. going to grow over the next few years. If Congress takes
action against interchange, it is going to cause compa-
One of the best solutions for merchants is simply offer- nies to do a major overhaul. Software companies more
ing better customer service. Merchants should make it and more are making deals with ISOs, banks, etc., to
very easy for their customers to get in contact with them offer payment processing directly, and that is going to
whether it is through email, phone or even live chat on continue.
their website. Many merchants can prevent unnecessary
chargebacks during the holiday season just by upping 2. Right now, merchants are trying to hang on and sur-
their customer service efforts. vive under tough conditions in the economy. We also
have a Congress that does not understand how busi-
Furthermore, I don't think that the typical AVS settings ness works, and the rules and taxes they are impos-
in the payment gateway are enough to prevent fraud ing are making it more difficult to do business. I think
anymore. With how sophisticated fraudsters are, mer- that many businesses are leaning towards surcharge,
chants really need more advanced fraud screening and, dual pricing and cash discount models for pricing. Also,
ideally, a service that also offers chargeback protection many merchants are looking for ways to use technology
or guarantees. to help with labor problems. I expect that in the next
year many businesses will want to put in kiosks to of-
One product that I really like and always recommend fer self-service in one form or another. The fast-food in-
is called NoFraud. For high-volume merchants, we are dustry has changed to kiosks, ordering through an app,
seeing lots of success with adding Visa RDR to lower curbside pick-up and more.

26