Posts Tagged ‘MasterCard’

4 Month Strong Ecommerce Growth

Wednesday, March 9th, 2011

Posted By: Al Pascale, Manager of eCommerce Services

February 2011 held strong with the fourth month of eCommerce growth over the same time last year. According to MasterCard Advisors, consumers spent $13.8 billion online during the month of February, which is an increase of 13.2% year-over-year. February sales have continued the upswing in the industry as it marked the fourth consecutive month of double-digit growth for e-commerce sales. February sales were even higher than January’s at $13.1 billion.

Dydacomp SiteLINK eCommerce stores saw a boost in sales compared to last year as well. Overall the online jewelry industry saw a sales increase of 7.2% year-over-year in February, while Dydacomp’s SiteLINK jewelry retailers saw a 42% increase in sales from last year.  SiteLINK Home Furnishing businesses also saw an increase of 24% over last year.

According to MasterCard, the growth is due to the cold weather and rising gas prices that kept shoppers indoors and on their computers. “Not only are online sales doing well, e-retailers are stealing channel share from the bricks-and-mortar stores,” said John Gamel, a MasterCard Advisors SpendingPulse analyst.” As gas prices continue to rise, eCommerce businesses should continue to see a rise in online sales as consumers are more inclined to shop from the comfort of their own homes.  Let’s hope that March 2011 marks the 5th consecutive month of growth.

How did your store do over the past 2 months? Have you seen similar results? Let us know!

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Important Changes to Discover Card Merchant Accounts

Thursday, June 10th, 2010

Posted by Michael Nardini, Vice President of Customer Satisfaction
Michael Nardini, Dydacomp VP of Customer Satisfaction

For those of you who accept Discover, you should have noticed a change on June 1, 2010.  For most of you if your merchant bank has made the change, Discover is now being deposited into your checking account combined with Visa and MasterCard.  It used to be a separate entry but now they have joined the main brands to offer you some additional benefits.

Besides bundling the deposit together making reconciliation easier, you should now have a few more benefits:

1 – One customer service phone number.   Your Visa/MasterCard processor should be able to handle all customer service inquiries for you.

2 – One voice approval hotline so that you don’t have to remember different voice approval phone numbers.

3 – One statement.  Discover should be itemized like Visa and MasterCard have been.

4 – Same time-frame for funding as you had with Visa and MasterCard.

5 – In some cases lower % fees for processing Discover the same as you pay for Visa and MasterCard.

There shouldn’t have been anything you would have had to do to change.  Your merchant provider should have helped you through with this change.  I mention above in terms like “should have” or “should be handling” just to remind you that your merchant bank should have made this an easy change for you and that they should have passed the benefits down to you.  If you’re not seeing any of the benefits above you should reach out to me to find out how our Payment Processing team can help you get set up with another provider.

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