Merchant Acquiring Service Provider – Oceanpayment

For many foreign trade merchants, after choosing a suitable merchant acquiring method, the payment success rate has become a key indicator of business growth. As a global high-quality merchant service provider, Oceanpayment has helped merchants greatly increase the payment success rate over the years.

Track user behavior in the payment processing

If the merchant tracks user behavior on the payment page, it can analyze where the payment failure occurred, thereby effectively improving the payment success rate.

After entering the payment page, consumers stay on the payment page for a long time, consider whether to pay directly, and finally terminate the payment halfway.

Such consumers are cautious and may investigate the website or ask online customer service before completing the payment. To solve this kind of customers’ doubts, on the one hand, it is necessary to improve the quality of the website, such as sophisticated page vision and timely customer service response. On the other hand, the merchant service provider should improve the security and credibility of the website, such as displaying various safety certifications, promises, and shopping terms.

There exist credit card problems. The following are the common reasons why card issuing banks and credit card organizations refuse to charge:

Consumers fill in incomplete or wrong credit card information. For example, the credit card number, expiration date, password, billing address and other incorrect information, then the bank cannot or refuse to charge.

The card used by the consumer for payment is a 3D credit card, and if the 3D verification code is not filled in or the verification fails during the payment process, the system will judge it as an unauthorized transaction and refuse to deduct the payment.

The card used by consumers for payment is identified as black cards, stolen cards, duplicate cards and other illegal cards by the system, or there are bad transaction records such as refusal to pay, then the system refuses to deduct the money.

The credit limit of the credit card is insufficient to process the transaction, or the expiration date is entered incorrectly, or the credit card period has expired.

Consumers repeatedly pay for the same IP in a short period of time, and are suspected of other illegal activities such as cash out, money laundering, and fraud, then the system refuses to deduct money.

The reasons of the failed payment in the merchant acquiring process

1. The consumer temporarily abandons the purchase decision.

Online shopping is often an impromptu behavior of consumers, and forgetting an order is also a common phenomenon. To solve this problem, merchants could consider building a complete consumer interaction system. The system can automatically send emails for temporarily canceled orders to remind users of the timeliness of the order.

2. Some customers are unable to pay due to the lack of a certain payment method.

Consumers in different countries have different payment habits, which imposes more complex requirements on the payment system of merchants acquiring bills. In the initial stage of the website, consumers may not be able to pay due to the lack of a certain payment method. Therefore, it is necessary to access multiple payment methods to meet the payment differences of overseas consumers as much as possible, for example, provide credit cards, debit cards, and local payment methods at the same time to expand the coverage of payment methods. In addition, merchants can also conduct a telephone return visit to unpaid orders, so as to solve the unpaid phenomenon caused by the lack of a certain payment method as soon as possible.

Merchant Acquiring Service Provider – Oceanpayment

As a global high-quality merchant service provider, Oceanpayment can effectively help users solve the above problems. The highly stable payment system built by Oceanpayment can minimize the loss of online orders. In terms of payment fraud, it balances payment security and order conversion, use humane methods to solve problems. Oceanpayment has a complete and intelligent closed-loop risk control management system. The intelligent real-time risk control system can make real-time risk judgments on every transaction that passes through our risk control system. The risk control system uses the final risk score to guide the current trend of the transaction: risk control passed, risk control blocked, 3D transaction entered or manual intervention risk assessment.