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Risk, fraud and litigation management by all means of Payment

Businesses can anticipate and manage the risks associated with accepting online payments by offering payment methods tailored to their risk-taking preferences. As a general rule, the higher the level of authentication for the customer at the time of payment, high risk merchant account providers of fraud for the chosen payment method.

Companies must take into account the risk of fraud associated with a given payment method, and their level of responsibility in the event of a dispute. The credentials required to conclude transactions with certain means of payment may be stolen and used without the consent of their owner. This is the case with account or credit card data. For this reason, some payment systems include the ability for consumers to dispute payments made using their credentials, and funds can be automatically restored to them from businesses. However, other means of payment will require consumers to execute payment instructions themselves, with an authentication step almost impossible for a third party to perform.

These payments are generally irrevocable. Bank transfers, where consumers transfer funds to a specific bank account from their own account, are an example of this kind of payment method. These payment options do not relieve businesses of their responsibility to provide expected products and services, but give them greater control over handling disputes and exceptions, as funds cannot be withdrawn automatically. Ticket companies and marketplaces specializing in luxury goods, for obvious reasons, are examples of companies preferring authenticated and irrevocable means of payment. Where consumers transfer funds to a specific bank account from their own account are an example of this kind of payment method. 

These payment options do not relieve businesses of their responsibility to provide expected products and services, but give them greater control over handling disputes and exceptions, as funds cannot be withdrawn automatically. Ticket companies and marketplaces specializing in luxury goods, for obvious reasons, are examples of companies preferring authenticated and irrevocable means of payment. Where consumers transfer funds to a specific bank account from their own account are an example of this kind of payment method. These payment options do not relieve businesses of their responsibility to provide expected products and services, but give them greater control over handling disputes and exceptions, as funds cannot be withdrawn automatically. 

Ticket companies and marketplaces specializing in luxury goods, for obvious reasons, are examples of companies preferring authenticated and irrevocable means of payment. These payment options do not relieve businesses of their responsibility to provide expected products and services, but give them greater control over handling disputes and exceptions, as funds cannot be withdrawn automatically. Ticket companies and marketplaces specializing in luxury goods, for obvious reasons, are examples of companies preferring authenticated and irrevocable means of payment. These payment options do not relieve businesses of their responsibility to provide expected products and services, but give them greater control over handling disputes and exceptions, as funds cannot be withdrawn automatically. Ticket companies and marketplaces specializing in luxury goods, for obvious reasons, are examples of companies preferring authenticated and irrevocable means of payment.

Understand the real cost of supporting payment methods

It is in the best interests of businesses to have a holistic view of the costs and benefits associated with the new payment options they offer. First of all, it is absolutely essential that companies anticipate the cost of the technical integration of a new payment method. As explained above, this can mean much more than adding a logo to the payment page of the company’s website: it can have an impact on the number of currencies displayed, on the design of the payment finalization process, and even, as we will see later, on the expected time to complete a purchase.

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