How to accept international credit card payments?
International credit card payments typically refer to online payments made with international credit cards, commonly used for small transactions of $1000 or less in international trade. Main industries include virtual games, household items, electronic products, and ticket booking.
Advantages of international credit card payments:
Convenient and fast, real-time transactions Convenience means that consumers using credit cards for online payments skip the steps of traditional payment methods such as Western Union, Money Gram, and Telegraphic Transfer, which require them to go to the corresponding institutions first. Real-time refers to the fact that all operations are completed online.
Large market, safe and reliable Nearly 1.5 billion people worldwide have international credit cards, which speaks volumes. In Europe and the United States, almost everyone has a credit card, and people in these regions also tend to prefer shopping with credit cards, which aligns with their consumption habits. Safety is ensured because although credit card online payment methods are provided by third-party payment companies, these companies cooperate with banks and credit card organizations. Therefore, in addition to the risk control systems of the third-party payment companies, there are also powerful bank risk control systems and credit card organization databases to provide protection.
Low account freeze and chargeback rates According to investigations by credit card organizations such as Visa, Mastercard, JCB, American Express, and Diners Club, the chargeback rate is generally below 0.5%.
Risks of credit card payments:
Chargebacks International credit cards have a chargeback period of 180 days (some credit cards even allow chargebacks after 180 days). Chargeback, also known as cb, refers to the behavior of credit cardholders actively requesting a refund. Reasons for chargebacks include: 1. Customers did not receive the goods. 2. Goods do not match the description. 3. Quality issues with the goods. 4. Transactions involving fraudulent or stolen cards.
Attitude towards handling chargebacks Compared to the obvious bias towards buyers by well-known international payment channels like PayPal, which often freeze accounts without much inquiry, credit card channels focus on the interests of both buyers and sellers. They handle chargebacks based on factors such as the shipment status of the goods and the attitude of the buyer. They do not close channels, causing merchants’ funds to be frozen. Therefore, their handling of chargebacks is undoubtedly more fair.
With the AJ Pay payment gateway, you can quickly gain access to global payment capabilities and give your business a global reach.
