A potentially valuable customer visits your site, chooses their products, proceeds through the checkout, and submits their payment details. The worst happens, their card is declined. What can we, as etailers, do to provide these customers with the best experience, and not lose a sale?
Peter Sunde is best known as one of the founders of The Pirate Bay (TPB), the now-deceased BitTorrent index. In April of this year, Sunde and his fellow TBP operators were found guilty of copyright infringement and were each ordered to pay close to €2.75m in damages.
Having apparently decided that piracy doesn't pay, Sunde now has a new business venture: he wants your credit card number. His new company, Kvittar, plans to "automatically collect your receipts and store them digitally for easy search and access."
It's shaping up to be a big week for social media. Now Visa is making some social media news, this time on a more conventional platform than other recent entries, like Skittles. The credit card is launching its first global advertising campaign, complete with a microsite, rich media banner ads with live video feeds from international locations, and a multicultural twist on Flickr.
The "More People Go With Visa" campaign's microsite will feature a
"Gosaic," which is Visa-speak for a collection of images submitted by
people through Flickr along with recommendations from them about
experiences that can be enabled through a Visa card. The "Gosaic" will
feature more than 200 merchant offers delivered to users depending on
their interests, location, and time of day. The whole thing launches
with ads on Fox's "American Idol" tomorrow night, March 4.
According to CyberSource Ltd., the UK subsidiary of electronic payment provider CyberSource Corporation, online fraud is a growing challenge for online businesses in the UK.
Although the total rate of fraud increased by 'only' 2.6%, one in 8 online merchants in the UK are now losing 5% or more of their online revenue to fraud and 37% lose at least 1%. All told, more than 40% of the merchants surveyed as part of CyberSource's 5th Annual Fraud Report saw fraud levels increase online last year.