When an online payment is made to your site, you may feel you have relatively little control over its processing through your shopping cart and payment gateway. Ultimately, of course, this is true. The card issuer has the final say in whether an online payment is accepted, but there are ways in which you can decrease the number of online payment declines from your shopping cart.
What you control in the online payment process
When it comes to paying for your goods and services, a customer must enter details to your shopping cart for processing through a payment gateway. Here at North Payments we support address verification (AVS) and collection of the three number security code found on the rear of payment cards (CVV).
By insisting your customers use these anti-fraud tools your business will be seen to be conscious of online payment security. Very few customers now see this as no more than a time consuming operation but more so a level of protection that you, as a conscientious eCommerce business, have installed for their protection.
Detailed customer transactions lead to reduced issuer declines
Even though the existence of the CVV and AVS will not guarantee online payment is accepted by the card issuer, the more detail your customer enters the higher the chance of acceptance.
However, if you accept recurring payments (such as monthly membership fees, for example), then you won’t be able to collect the CVV, because to do so would be in breach of the PCI DSS. By instead flagging the payment through the payment gateway as recurring you will alert the card issuer that the card has been previously accepted and increase the chances of payment being accepted.
In conclusion, take care when integrating your payment gateway solution with your website and shopping cart. In order to accept online payments make sure that your payment processing provider has set your shopping cart up to request as much information as possible for the type of online payment you wish to accept. Taking these simple steps will help to cut card declines and increase your sales and customer loyalty.