Ecommerce
Digital Payment Market Growth & Statistics for 2024
The digital payments market refers to the ecosystem where transactions are conducted electronically, eliminating the need for physical currency or cards. It includes various forms of electronic payments, including mobile wallets, account-to-account (A2A) or peer-to-peer (P2P) transfers, contactless payments, Buy Now, Pay Later options, and cryptocurrency. This market has experienced exponential growth in recent years,…
How to Sell Online in 10 Steps (2024)
Selling online includes deciding what products to sell, a channel to sell products, and a process for storing goods and shipping orders. This guide explains how to sell online step by step and provides you with ways to promote and improve your chosen sales channel efficiently. Step 1: Conduct Market Research Selling online begins…
7 Best International Merchant Accounts for Small Businesses in 2024
International merchant accounts make it easy to sell items and services across borders by taking payments in different currencies and paying you in yours. Most international payment processors handle credit cards, ACH transfers, and cryptocurrency transfers for online sales. They also have APIs or integrations for point-of-sale (POS) systems and ecommerce solutions. In our expert…
What Is Return Fraud? A Small Business Guide
Return fraud, also called refund fraud or refund theft, is the deceptive practice of returning merchandise or abusing a return/refund process for monetary gain. In 2023, retail return fraud cost up to $101 billion in total losses, and every $100 of returned merchandise resulted in a loss of around $13.70 for retailers. Businesses need to…
8 Direct-to-Consumer (DTC) Ecommerce Trends in 2024
Direct-to-consumer (DTC or D2C) ecommerce involves businesses producing and selling products directly to their end consumers. DTC exploded on the scene with brands like Everlane, Dollar Shave Club, and Allbirds shaking up the traditional retail model—and while these are large brands, selling DTC is shaping up to be a trend small businesses can’t afford to…
What Is Supplier Relationship Management? Why & How to Do It
Supplier relationship management (SRM) is the set of practices and approaches that a business uses to create and maintain a friendly, productive relationship with its suppliers. The purpose of building a good relationship with suppliers is to increase the efficiency and reliability of your inventory flow, purchasing operations, and product sourcing—reducing overall costs and wasted…
What Is a High-risk Merchant?
A merchant is considered “high-risk” when it runs a business that is highly susceptible to fraud and chargebacks. This can be due to the industry they belong to, the products or services they provide, or a history of high chargeback claims. When this happens, merchants go through a more rigorous process before being approved for…