The Trustly Blog

As we enter into 2021, some Nacha rules are expected to come online that will affect merchants, financial institutions (FIs), and billers. One rule adds a new data security procedure when a merchant/FI/biller keeps its customers’ deposit account information in electronic format. Another rule mandates an account verification step when making an ACH debit payment. We summarize these new rules below.

Online shopping grew significantly in 2020, bringing with it key challenges for eCommerce businesses: higher fraud rates, more chargebacks, poor checkout experience and high cart abandonment rates. There are many one-off solutions to tackle these problems. Trustly is the only holistic technology that can address everything simultaneously using Open Banking Payments.

Real Time Payments (RTP) are a type of faster payments that settle instantly. Businesses that invest in RTPs can cater to the expectations of younger demographics while realizing other benefits, such as improving business processes, encouraging customer onboarding, and driving sales and retention. RTPs are relevant to numerous industries, such as insurance, bill payments, and online casinos.

Revenue projection is both an art and a science. It is partly based on the solid number of past sales, but it also includes various known and hidden assumptions. When it comes to projecting credit card sales, most executives forget a hidden variable: the sale that is lost when a card is wrongfully rejected for fraud, and the customer goes elsewhere.

100 billion dollars...that’s the volume of spending expected to shift from credit cards to debit cards during the current global Covid-19 pandemic according to Visa. It’s a significant number and it signals a trend in consumer behavior that brings both challenges and opportunities for merchants across the country.