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2CO Autumn 2005 Newsletter |
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Written by Tony
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Wednesday, 28 September 2005 |
2CO Autumn 2005 Newsletter
One of the hottest topics for online merchants and consumers is credit card fraud and identity theft. Did you know that small businesses are affected more than larger online stores? That's because criminals often assume that small businesses can't invest in top-of-the-line fraud detection. In this month's issue, read more about the impact of credit card fraud and the steps that 2CO has taken to give you the protection and services that large companies use to protect themselves and their customers.
Celebrate our Two Year Anniversary! Join the 2CO Portrait Gallery
It's hard to believe we've been at the Columbus location for two years, but it's true. To celebrate, we'd like to add members of the 2Checkout.com family to the building...figuratively speaking.
Send us a photo of your company staff, the locale of your business, product samples, or anything else you feel is representative of your company. We'll be printing and framing the photos and hanging them in our lobby.
Send your photo file and vendor ID to
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*** In This Edition ***
* Don't Let Fraud Ruin Your Business
* New! 2CO Terms of Service, Operating Regulations and Privacy Policy Documents Coming
* Is Your Shopping URL Correct?
* Compliance and Sales--Add Images, Increase Sales, Be Compliant
* New! Payout Schedule Change
* International News: Egyptian Banks, Thai bhat merchants
* Customer Service Hours Increase
* Life at the "2"---Scholarships, CNN, and More!
Credit Card Fraud- What 2CO Is Doing for Your Business
Over the last nine years, there has been a tremendous increase in the use of credit cards to make online purchases, from 10% in 1996 to nearly 40% in 2003.
At the same time, there has been a corresponding increase in fraudulent purchases made using generated or stolen credit cards. In the U.S. in 2003, there was an estimated $1.27 billion of online credit card fraud and by 2005 that number was estimated to reach $2.6 billion. And it may not be only credit cards that are the fraud target: Gartner Group's controversial 2005 study suggested that a staggering $2.75 billion could be associated with debit card fraud.
And consider this statistic-- the median value of a fraudulent order is 50% higher than the $100 median value of a valid order.
As a small- to mid-sized business owner, you face special challenges. Unlike your larger online counterparts such as 2CO, you probably don't have loss prevention units, fraud detection staff, and tools for detecting and rejecting suspect purchases. Those resources cost time and money that most small businesses simply cannot afford.
At 2CO, we recognize that your business deserves an eCommerce partner dedicated to maintaining an industry-leading standard of security-- so we've been taking steps to provide our suppliers and customers with the highest levels of protection.
* In August, 2005, we upgraded and enhanced fraud detection services-- bringing state-of-the-art fraud protection to each of our vendors. The value to vendors is unsurpassed and, best of all, is a service that comes at no additional cost to 2CO shopping partners. See the announcement at http://www.2co.com/fraud_aug05.html .
* 2CO is proud to announce that based on sales volume we have been rated as a Level II merchant for PCI (payment card industry) compliance. This is a major achievement for 2CO as the qualification process is extremely rigorous. It means the industry has a high level of confidence in 2CO's processes and procedures for site and data security.
* We are on track for MasterCard SecureCode integration on October 1. It will mean we have passed a series of good work, privacy and security practices comparable with some of the world's largest commerce companies
* We have applied for the Better Business Bureau OnLine seal of approval. This is awarded when sites meet certain security criteria. We should point out that currently fewer than 1000 online commerce sites have been awarded this seal.
* New Terms and Service, Operating Regulations, and Privacy Policy documentation will further assure clear and responsible processes for preventing fraud. As states in the U.S. and countries around the world crack down on consumer privacy, your business can agree to "play by the rules" of one of the industry's toughest privacy policies.
How can you guard against fraud?
* Market your affiliation with 2CO as a benefit. You can let shoppers know that along with great products and services, they receive reassuring security and privacy protection.
* Ensure that you link to the 2CO privacy policy (see online version at https://www2.2checkout.com/documentation/privacy_feb7_2005.htm ) and refund return polices.
* Be wary of phishing, a practice whereby criminals send fraudulent emails. NEVER use links from emails. 2CO will never send you emails requesting private information.
* Contact 2CO's Fraud Dept (
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) with any concerns or to request a representative manually review an order.
2CO knows that increased attention to security means better business and greater consumer confidence - and that means you can sell piece of mind as well as great products and services.
(Sources:www.epaynews.com, www.digitaltransactions.net, www.cybersource.com. For more information, try using the following Google search-- http://www.google.com/search?hl=en&q=credit+card+fraud+%22online+shopping%22&btnG=Google+Search )
New 2CO Documentation
As mentioned above, 2CO vendors should be on the lookout for important new documents. The Terms of Service, Operating Guidelines, and Privacy Policy have been rewritten and will be online soon at https://www.2checkout.com/documentation/.
Areas of change will be highlighted for your convenience.
Got the Correct URL for Shopping 2CO?
In 2CO's history there have been a couple of different ways to create URLs for www.2checkcout.com/cgi-bin/[your purchase routine and parameters] ; www2.2checkout.com/2co/buyer/purchase[your purchase parameters].
We want to let you know that there is just ONE preferred way, despite the alternatives-- which may not be supported in the future.
**Make sure that all your shopping links begin as follows:**
www.2checkout.com/2co/buyer/purchase[your purchase parameters]
Compliance and Sales-- Add Images to Your Shop, Increase Sales!
Think about it...if you have a choice of buying something you can see or something that you can't see, chances are you'll go with item you can view. Our customers feel the same way. Using the administration tool, you can add images of each of your products and increase your selling chances. Think of the sales you'll be generating just by letting customers see what you have to sell!
In addition, if images are not added, your store may not be in compliance with the payment card industry's and 2CO's standards and could be shut down.
COMPLIANCE REMINDER: It may seem like compliance issues keep surfacing, but it's important for all of us-- 2Checkout.com, credit card issuers, and you, the supplier-- that all aspects of compliance are reiterated and clarified. Credit card issuers have explained to 2Checkout.com that sites which are not in compliance will be removed from the Shopping Center without any notice to the business.
**How to Display Products by Adding an Image:**
In the Set Up Products section on the Account HomePage, you can:
* Upload an image for each product.
Click on the --> Image link under Actions.
By the way, Check Your Language: Even if you believe the language on the Web site buttons is correct, we urge you to double-check. The only acceptable language can be found at http://sellers.2checkout.com/language_guidelines.html
New! Get Paid on Thursdays
2CO heard that vendors wanted options to help with cash flow and accounting issues. Beginning mid-October, 2005, 2CO will be issuing payments weekly, on Thursdays. An additional benefit will be fewer delayed payments due to payment days falling on Fridays, weekends, long weekends and bank holidays.
Vendors with wire payments may want to reevaluate release levels. If you need a refresher about how to change levels in your control panel, go to the Knowledge Base article located at http://support.2co.com/deskpro/faq.php?do=article&articleid=68
For more information, watch the News area of the Vendor log in page.
International News
Thai Bhat
Recently, 2CO began working with a new remittance provider for transactions in Thai bhat. Your feedback is critically important and will be a part of 2CO's evaluation of this provider.
The intended benefits to you and your business of this new banking arrangement may include
ท better exchange rates
ท faster delivery
ท more favorable fees.
Please send all experiences-good, bad, and neutral-- to
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in order that we may further consider the use of this new remittance partner. Your voice is an important part of our ongoing improvements.
Egyptian Bank Law Changes
The National Bank of Egypt, as a part of it's Anti-Money Laundering procedures, is requiring additional information about bank account holders in order for wire payments to be accepted. As we investigate and confirm what information is necessary, payments to those of you with Egyptian bank accounts from 2CO will be temporarily suspended. Your sales activity will be unaffected. Be assured that 2CO is working with Egyptian bank officials as quickly and as carefully as possible to ensure your payments are resumed in a timely manner.
We'll Be Here for You
Every hour of every day, 2Checkout.com is waiting for your call. The nice folks in Customer Care are here 24 hours a day, seven days a week, 365 days out of the year. For faster service, try calling at non peak times (Peak time is between 10am-5pm EST). If it is possible, call earlier or later.
Customer Service Support Center
1-877-294-0273 toll-free in U.S. & Canada
1-614-921-2450 international callers
0871-871-8283 local from UK & Northern Ireland
Know of any Local Exchanges in your country? If so, let us know. We'll arrange for local calls in your country, just as we have in the U.K.
As your partners in eCommerce, we realize how infrequently you are able to recognize the quality of our Customer Care department. If you have a compliment or story to tell about one of team members and your interaction via phone, email or ticketing system, please send it along to
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We'll be sure to profile it here in coming editions.
Life at the "2"
Scholarships Awarded
Two important awards were made to deserving students this summer. The students show a high degree of personal integrity and commitment to their community. We know all members of the 2CO family are proud to be able to support such deserving young people.
2CO.com Scholarship:
Wes Workman, a 2005 graduate of London High School, London, Ohio, was awarded the first 2CO.com scholarship. Mr. Workman worked as an intern during the summer at 2CO and was selected based on teacher recommendations, an essay and grade point average. The renewable scholarship is worth a total $12,500.
Kristin Dach, 2Co.com's COO, stated in her May 19th awards speech "This has been a long-held goal for 2CO. We had to know that our business was solid and growing enough to fund a really outstanding young person for five years."
In his award-winning essay, Workman states that he has loved computers since he was three, and hopes to be a head network administrator one day. "Computers have always been my passion. As a three-year-old I got my first computer and learned about DOS. My infatuation with operating systems has grown since then."
Jeff Beal Memorial Scholarship:
The Jeff Beal Memorial Scholarship, a renewable four year scholarship with a total value of $10,000, has been awarded by 2CO to Paige DeMatteo in honor of the late 2Checkout.com member. Applicants had to be nominated by a friend, be a Northland High School, Columbus, Ohio graduate, and had to be attending any public or nonprofit independent college or university in the state of Ohio on a full-time basis.
Qualities and characteristics of the applicants reflect the characteristics that were important to Jeff and included character (based on an essay, nomination, and recommendation) and financial need. In the scholarship description it says "This scholarship is inspired by a man that was a true friend to a great many people...He had a special way of caring for others, listening, and giving advice when it was needed, often with a sense of humor. He made you laugh and realize he was right all at the same time. He celebrated with you in good times, and cried with you in the bad... If he had it to give and you needed it, it was yours. One of his greatest qualities was that he wished for his friends' dreams to come true as much if not more than he wished for his own. His friends consider him a champion in the friendship arena."
2CO would like to thank all our of vendors, partners, staff and friends who contributed to this very special scholarship. We wish Paige every success with her college career.
Media Equals Traffic: 2CO on TV
2CO has been working to gain recognition for the Shopping Center and its vendors. Recently, 2CO was showcased in Terry Bradshaw's "Pick of the Week," which appears nationally on CNN Headline News. The segment aired in early June. Alan Homewood, 2CO's president, was featured on the broadcast along with some of the 2CO staff. You can view the broadcast by going to www.2co.com/media/pickoftheweek.html
The piece was produced by Broadcast News Corporation. BNC's Executive Producer, Dan Usry, stated, "2Checkout.com was chosen as a result of your commitment to excellence and we applaud you for it." Mr. Usry's letter continued, "As you know, we pride ourselves on bringing industry leaders to the attention of the marketplace and we are particularly excited about 2Checkout.com's participation in our series."
Has Your Company Been in the News?
Please let us know-we'd like to feature the accomplishments of our vendors in our newsletter. Please send the URL of the article to
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Announcing the Vendor of the Month recognition award!
You, the vendor on the 2CO Shopping Center, are doing an outstanding job of promoting goods and services through the Shopping Center. Beginning October, 2005, 2CO will be monitoring sales and awarding $100 to the vendor with the most product sold through the 2CO Shopping Center. Look for more information on this exciting new promotion in the coming weeks!
Looking for Ideas from Fellow Vendors?
Don't forget the Forums at http://support.2co.com/forums/main.php
At 2CO, we are trying harder than ever to make your business better.
Please let us know if the information in this newsletter was helpful --> E-mail
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It's our way of being the best partner in commerce you'll ever have.
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