Credit Card Policies
Nowadays credit cards become more and more popular. They are much more convenient than cash and wallets and moreover, they allow you making purchases from home as there are lots of online shops with credit card processing system. You just enter the special form, leave your personal information and credit card data and receive the product you need. But despite the convenience this payment method still has some disadvantages both for business owners and for the customers. The main one among them is transaction security. As the transactions actually are the money transfer, the processing companies and merchants do their best to increase the security level and invent new measures every day. Nevertheless the transactions are performed through the Internet and there are fraudsters who try to hack the security system in order to get the money. In this way merchants lose their profit (sometimes it is great and the loss has awful consequences) and the customers risk to spend their money and get nothing. That’s why the e-commerce merchants create too strict and sometimes even strange credit card policies.
One of the most odd requirements in such policies is that the shipping address and billing address of the credit card must be the same. This requirement makes the online purchase rather uncomfortable. There are several reasons for it.
If you need the product on the address different from your credit card billing one, in fact you have to call to your credit card company and ask them to change your billing address to the new one. It is very likely that this cannot be done by the only call and you have to visit the office of the credit company, bring the definite documents and put in the application on the change of the billing address. Probably, the customer won’t do all of these actions in order to buy the definite product online. He will leave the company’s site and move further to find the better one offering the same product.
Another situation is possible too. The customer might want to purchase the product as a gift for his friends or beloved. Then he won’t want to get the product to his home. It will be much better if the product is shipped directly to his friends by the definite date. With the policy requirement quoted above it is completely impossible. The situation when the customer wants to make a surprise for his beloved and they live together is even worth. He won’t be able to make it at all as the product will be shipped right to the place where they live together. The result is the same: the customer will surf the Internet further to find the better offer.
If you are going to start your e-commerce business, don’t lose your profit because of the processing fraud fear and too strict shipping and credit card policies.
This straightforward rule can save you lots of money in your everyday life: never hurry up to fill out any credit card applications, without researching the market.
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