Verified by Visa

Why has Google Checkout dropped Maestro?

Google announced last week that it would not be accepting Maestro cards as a payment method through Google Checkout, though it didn’t explain the reasons for its decision.

On the face of it, it seems strange to deter potential customers by not offering as many payment methods as possible, especially one as popular as Maestro (it claims 540m cardholders worldwide) so why has this decision been made?

Verified by Visa: a conversion rate killer?

Verified by Visa, and other online verification schemes like MasterCard SecureCode, have been adopted by many online retailers in the UK, but do they cause customers to abandon sales?

Concern about the levels of online fraud has led to the introduction of these security measures, but have they seem to have been introduced without considering the effect on e-tailers, and some have found that conversion rates have been affected.

CyberSource: online fraud burdening UK merchants

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.