C11 | Bm2Pay https://www.bm2pay.com Unlimited Payments Solutions Mon, 11 Mar 2024 05:01:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.4 https://www.bm2pay.com/wp-content/uploads/2024/11/cropped-bm2pay-1-32x32.jpeg C11 | Bm2Pay https://www.bm2pay.com 32 32 C2C https://www.bm2pay.com/2019/11/05/c2c/ https://www.bm2pay.com/2019/11/05/c2c/#respond Tue, 05 Nov 2019 06:00:45 +0000 https://www.bm2pay.com/?p=3717 The C2C (Consumer-to-Consumer) business model involves transactions between two consumers. This type of commerce is typical of intermediary auction websites such as eBay, Etsy and Craigslist, but the site does not take responsibility for the quality of the products. In C2C transactions, prices are negotiable and the purchasing process is simple. These websites usually provide convenient payment methods such as PayPal, credit cards, debit cards and mobile apps. READ MORE: YOUR GUIDE TO BASIC TERMS IN THE PAYMENTS INDUSTRY

The post C2C first appeared on Bm2Pay.]]> The C2C (Consumer-to-Consumer) business model involves transactions between two consumers. This type of commerce is typical of intermediary auction websites such as eBay, Etsy and Craigslist, but the site does not take responsibility for the quality of the products. In C2C transactions, prices are negotiable and the purchasing process is simple. These websites usually provide convenient payment methods such as PayPal, credit cards, debit cards and mobile apps.

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YOUR GUIDE TO BASIC TERMS IN THE PAYMENTS INDUSTRY

The post C2C first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/11/05/c2c/feed/ 0 C2B  https://www.bm2pay.com/2019/11/05/c2b/ https://www.bm2pay.com/2019/11/05/c2b/#respond Tue, 05 Nov 2019 06:00:44 +0000 https://www.bm2pay.com/?p=3711 C2B, which stands for Consumer-to-Business, is a system in which an end user or consumer provides a product or service to an enterprise, which then uses it to complete a business process. Another C2B model is when a consumer allows a business to market a service or product on their website or blog in exchange for a fee. A different form of C2B is when an end user announces a need and businesses compete to meet it. READ MORE: YOUR GUIDE TO BASIC TERMS IN THE PAYMENT INDUSTRY

The post C2B  first appeared on Bm2Pay.]]> C2B, which stands for Consumer-to-Business, is a system in which an end user or consumer provides a product or service to an enterprise, which then uses it to complete a business process. Another C2B model is when a consumer allows a business to market a service or product on their website or blog in exchange for a fee. A different form of C2B is when an end user announces a need and businesses compete to meet it.

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YOUR GUIDE TO BASIC TERMS IN THE PAYMENT INDUSTRY

The post C2B  first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/11/05/c2b/feed/ 0 CORRESPONDENT BANK https://www.bm2pay.com/2019/10/22/correspondent-bank/ https://www.bm2pay.com/2019/10/22/correspondent-bank/#respond Tue, 22 Oct 2019 04:00:02 +0000 https://www.bm2pay.com/?p=3695 Correspondent banks are financial entities that serve as agents on behalf of other financial institutions, often foreign banks. Correspondent banks may handle foreign exchange, manage international investments, facilitate international trade and provide other services to the foreign bank in exchange for a fee. Foreign banks avail themselves of the services of correspondent banks when they are unable to establish a branch in a given country.  READ MORE: YOUR GUIDE TO BASIC TERMS IN THE BANKING SECTOR  

The post CORRESPONDENT BANK first appeared on Bm2Pay.]]> Correspondent banks are financial entities that serve as agents on behalf of other financial institutions, often foreign banks. Correspondent banks may handle foreign exchange, manage international investments, facilitate international trade and provide other services to the foreign bank in exchange for a fee. Foreign banks avail themselves of the services of correspondent banks when they are unable to establish a branch in a given country. 

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YOUR GUIDE TO BASIC TERMS IN THE BANKING SECTOR

 

The post CORRESPONDENT BANK first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/10/22/correspondent-bank/feed/ 0 CONTACTLESS PAYMENTS https://www.bm2pay.com/2019/06/13/contactless-payments/ https://www.bm2pay.com/2019/06/13/contactless-payments/#respond Thu, 13 Jun 2019 07:54:31 +0000 https://www.bm2pay.com/?p=3484 Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal.   This type of payment method can also be used via a smartphone, without any need to pull out a credit or debit card, provide a PIN or a signature. Today’s purchasers expect all transactions to be frictionless and fast, so contactless payments will inevitably become more widespread in the years to come.  READ MORE: THE INEVITABLE RISE OF CONTACTLESS PAYMENTS Image courtesy of Freepik

The post CONTACTLESS PAYMENTS first appeared on Bm2Pay.]]> Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal.  

This type of payment method can also be used via a smartphone, without any need to pull out a credit or debit card, provide a PIN or a signature. Today’s purchasers expect all transactions to be frictionless and fast, so contactless payments will inevitably become more widespread in the years to come. 

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THE INEVITABLE RISE OF CONTACTLESS PAYMENTS

Image courtesy of Freepik
The post CONTACTLESS PAYMENTS first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/06/13/contactless-payments/feed/ 0 CRYPTOCURRENCY https://www.bm2pay.com/2019/05/12/cryptocurrency/ https://www.bm2pay.com/2019/05/12/cryptocurrency/#respond Sun, 12 May 2019 08:12:45 +0000 https://www.bm2pay.com/?p=3147 Blockgeek defines cryptocurrency as a digital currency built with cryptographic protocols that make transactions secure and difficult to fake. Cryptocurrencies are decentralized, meaning they are not subject to government control or regulations.  Thus, transfers can be made with low processing fees through the use of public and private keys for security purposes. Users are able to avoid the usual fees charged by banks and other financial institutions. On the flip side, due to lack of regulation and any form of control, criminal elements and terrorists can maintain anonymity when transferring funds for terror funding and money laundering. In addition, cryptocurrencies are subject to unpredictable fluctuations and instability. Facebook is currently in the process of launching a new form of cryptocurrency in its WhatApp messaging platform known as stablecoin. This type of cryptocurrency is pegged to international currencies and is subject to a higher level of control and stability. READ MORE IS FACEBOOK ABOUT TO CHANGE THE FACE OF CRYPTOCURRENCY?  WILL CRYPTOCURRENCIES REPLACE CONVENTIONAL CURRENCIES? Image courtesy of freepik

The post CRYPTOCURRENCY first appeared on Bm2Pay.]]> Blockgeek defines cryptocurrency as a digital currency built with cryptographic protocols that make transactions secure and difficult to fake. Cryptocurrencies are decentralized, meaning they are not subject to government control or regulations.  Thus, transfers can be made with low processing fees through the use of public and private keys for security purposes. Users are able to avoid the usual fees charged by banks and other financial institutions.

On the flip side, due to lack of regulation and any form of control, criminal elements and terrorists can maintain anonymity when transferring funds for terror funding and money laundering. In addition, cryptocurrencies are subject to unpredictable fluctuations and instability.

Facebook is currently in the process of launching a new form of cryptocurrency in its WhatApp messaging platform known as stablecoin. This type of cryptocurrency is pegged to international currencies and is subject to a higher level of control and stability.

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IS FACEBOOK ABOUT TO CHANGE THE FACE OF CRYPTOCURRENCY? 

WILL CRYPTOCURRENCIES REPLACE CONVENTIONAL CURRENCIES?

Image courtesy of freepik

The post CRYPTOCURRENCY first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/05/12/cryptocurrency/feed/ 0 CROSS-BORDER PAYMENTS https://www.bm2pay.com/2019/02/26/cross-border-payments/ https://www.bm2pay.com/2019/02/26/cross-border-payments/#respond Tue, 26 Feb 2019 15:58:03 +0000 https://www.bm2pay.com/?p=2446 When expanding to global markets, merchants often encounter rising processing costs, lower conversion volumes and high fraud rates. Payment processors that were affordable and effective in your native market may be showing poor performances in new locations. Local taxes and regulations of which you were previously unaware may be cutting into profits. Previously used fraud screening seems to be ineffective. Before entering new markets, e-commerce retailers must carefully study critical local issues such as payment providers, preferred payment methods, processing fees, and taxes. An advanced payments platform enables easy scaling to new markets, a single integration with multiple local processors, a wide range of payment options, and adjustable fraud screening.   READ MORE: NEW EU REGULATIONS TO REVOLUTIONIZE CROSS-BORDER PAYMENTS A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

The post CROSS-BORDER PAYMENTS first appeared on Bm2Pay.]]> When expanding to global markets, merchants often encounter rising processing costs, lower conversion volumes and high fraud rates. Payment processors that were affordable and effective in your native market may be showing poor performances in new locations. Local taxes and regulations of which you were previously unaware may be cutting into profits. Previously used fraud screening seems to be ineffective.

Before entering new markets, e-commerce retailers must carefully study critical local issues such as payment providers, preferred payment methods, processing fees, and taxes. An advanced payments platform enables easy scaling to new markets, a single integration with multiple local processors, a wide range of payment options, and adjustable fraud screening.

 

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NEW EU REGULATIONS TO REVOLUTIONIZE CROSS-BORDER PAYMENTS

A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

The post CROSS-BORDER PAYMENTS first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/02/26/cross-border-payments/feed/ 0 CREDIT CARD DECLINES https://www.bm2pay.com/2019/02/26/credit-card-declines/ https://www.bm2pay.com/2019/02/26/credit-card-declines/#respond Tue, 26 Feb 2019 15:50:04 +0000 https://www.bm2pay.com/?p=2442 Credit card declines can have considerable negative impact on an online business. Credit cards may be declined for several reasons aside from the obvious one of insufficient funds. Sometimes the decline may be caused by a simple mistake – the card holder may have keyed in the wrong card number or CVV. Declines can also be the result of processing downtimes. This is more likely to happen when you fail to optimize local third-party service providers in various global markets. However, declines may also occur due to false fraud flagging. This means that a transaction was identified as fraudulent even though it was legitimate. This may occur when you fail to adjust fraud screening according to risk levels in various markets. The result of declines is a disgruntled customer who will most likely never return to your website. READ MORE: A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION A MERCHANT’S GUIDE TO INTERNATIONAL PAYMENTS

The post CREDIT CARD DECLINES first appeared on Bm2Pay.]]> Credit card declines can have considerable negative impact on an online business. Credit cards may be declined for several reasons aside from the obvious one of insufficient funds.

Sometimes the decline may be caused by a simple mistake – the card holder may have keyed in the wrong card number or CVV. Declines can also be the result of processing downtimes. This is more likely to happen when you fail to optimize local third-party service providers in various global markets.

However, declines may also occur due to false fraud flagging. This means that a transaction was identified as fraudulent even though it was legitimate. This may occur when you fail to adjust fraud screening according to risk levels in various markets. The result of declines is a disgruntled customer who will most likely never return to your website.

READ MORE:

A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

A MERCHANT’S GUIDE TO INTERNATIONAL PAYMENTS

The post CREDIT CARD DECLINES first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/02/26/credit-card-declines/feed/ 0 CONVERSION RATES https://www.bm2pay.com/2019/02/26/conversion-rates-2/ https://www.bm2pay.com/2019/02/26/conversion-rates-2/#respond Tue, 26 Feb 2019 15:40:54 +0000 https://www.bm2pay.com/?p=2439 A conversion rate is the method which online retailers use to compare the total number of visitors to a website with the number that actually becomes paying customers, subscribers or users. When it comes to cross-border ecommerce, conversion rates may be affected by various factors such as complex user experiences, unfamiliar payment methods, complicated checkout processes, unexpected taxes, lengthy delivery times and more. You can take a variety of steps to boost conversion rates including facilitating user experiences and checkout processes, providing popular local payment methods, and streamlining payments performances. READ MORE: A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

The post CONVERSION RATES first appeared on Bm2Pay.]]> A conversion rate is the method which online retailers use to compare the total number of visitors to a website with the number that actually becomes paying customers, subscribers or users.

When it comes to cross-border ecommerce, conversion rates may be affected by various factors such as complex user experiences, unfamiliar payment methods, complicated checkout processes, unexpected taxes, lengthy delivery times and more.

You can take a variety of steps to boost conversion rates including facilitating user experiences and checkout processes, providing popular local payment methods, and streamlining payments performances.

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A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

The post CONVERSION RATES first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/02/26/conversion-rates-2/feed/ 0 CREDIT CARD CHARGEBACKS https://www.bm2pay.com/2019/02/26/credit-card-chargebacks/ https://www.bm2pay.com/2019/02/26/credit-card-chargebacks/#respond Tue, 26 Feb 2019 15:36:57 +0000 https://www.bm2pay.com/?p=2436 A chargeback is a protective measure credit card issuers offer cardholders, which enables the cardholder to dispute a charge. Chargeback policies exist to protect the customer, but, when abused, can cause a wide range of problems for merchants, including the loss of money, resources, time and the customer. Chargebacks can be the result of technical errors: For example, the buyer may have been charged twice for the same transaction, or they never received the purchased item. Other times, customers may demand chargebacks if their credit cards were actually compromised by credit card fraud. Some industries, such as travel, gaming and hospitality, are defined as high risk due to the large incidence of chargebacks in these sectors. READ MORE: BEST PRACTICES FOR THE TRAVEL INDUSTRY A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

The post CREDIT CARD CHARGEBACKS first appeared on Bm2Pay.]]> A chargeback is a protective measure credit card issuers offer cardholders, which enables the cardholder to dispute a charge. Chargeback policies exist to protect the customer, but, when abused, can cause a wide range of problems for merchants, including the loss of money, resources, time and the customer.

Chargebacks can be the result of technical errors: For example, the buyer may have been charged twice for the same transaction, or they never received the purchased item. Other times, customers may demand chargebacks if their credit cards were actually compromised by credit card fraud.

Some industries, such as travel, gaming and hospitality, are defined as high risk due to the large incidence of chargebacks in these sectors.

READ MORE:

BEST PRACTICES FOR THE TRAVEL INDUSTRY

A MERCHANT’S GUIDE TO PAYMENT OPTIMIZATION

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