Month: July 2017

Card Testing Results in Chargebacks and False Positives

Published / by jiukuaiy

Card testing is currently viewed as an effective tactic. Based on a study by Radial, a King of Prussia, Pa.-based omnichannel technology provider, during the 1st quarter of 2017, credit card testing grew two-fold as compared to the same period in 2016.

Card Testing

According to Michael Graff, risk analytics manager for Radial, for fraudsters, turning a profit is associated with finding card accounts that can be used to purchase items that can be turned into cash.

Criminals mainly focus on consumer electronics, gift cards, sporting goods, and jewelry. However, as Graff notes, criminals will target any merchant segment carrying merchandise they think they can resell.

Though criminals favor e-commerce merchants for card testing because there aren’t too many barriers in the card-not-present environment to fraud, card testing is increasingly creating more problem among charities.

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Chargebacks and False Positives

Chargebacks that are caused by card testing can’t just drive up merchants’ interchange fees; they also cause damage to their brand. Consumers who are victims of card tests, as a rule, have a negative opinion of the merchant’s ability to detect and prevent fraud. This can make them take their business elsewhere, as Graff notes. By 2020, e-commerce is anticipated to lose $31 billion to chargebacks.

Graff adds that even if a consumer doesn’t shop with the merchant, he/she can spread a negative opinion of the merchant to others through word of mouth or on social media.

It’s not easy to fight test transactions. When it comes to false positives, to avoid them, Graff recommends merchants to supplement fraud-detection technologies and have human-risk analysts who would review transactions that may fall into the gray area between fraudulent and non-fraudulent transactions.

According to Julie Conroy, research director for Boston-based Aite Group, false positives across all merchant categories in the US made up $264 billion in 2016. The approval rate for card-not-present transactions is 80% – 85%, compared to 97% associated with card-present transactions.

As of 2016, actual fraud losses reached almost 7% of the total cost of fraud and fraud management in the e-commerce business. Dollars lost to false positives made up 19%, according to a study by Javelin Strategy & Research, a research-based advisory firm. Fraud-fighting tools and personnel represented the remaining 74%.

The overall costs attributed to chargebacks, false positives, and fraud management were taking 7.6% of total e-commerce revenue, based on the mentioned study. False positives alone made up 2.8% of that revenue. The research involved 500 e-commerce merchants with $1 million or more annual revenue. By contrast, the toll from chargebacks reached 0.52%.

Working on Mass Market, the Bank of Credit Grow 27 Percent

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Jakarta – Credit National Savings Bank Tbk (the Bank) continued to grow rapidly during the first semester in 2013, although the BI data showed bank lending slowed nationwide starting in March 2013.
Bank’s loan disbursements grew by 27 per cent (year on year) from Rp 34.4 trillion on June 30, 2012 to Rp 43.6 trillion on June 30, 2013. The ratio of non-performing loans (non-performing loans / NPL) net of 0.39 percent, down from the end of June 2012 which was recorded at 0.43 percent.
Meanwhile, BI data showed loan growth slowed from March. Loans grew 23 per cent in January (yoy), then edged up to 23.4 percent in February, then slowed to 22.2 percent in March, 21.9 percent in April, and 21 percent in May.
Managing Director of the Bank, Jerry Ng said the positive performance of the Bank during the last few years as the fruit of bank consistency in working low-income segments of society as well as micro and small enterprises, including pre-prosperous society productive (mass market)
»In line with inclusive finance initiatives, the Bank continued to develop a business that focuses specifically designed to meet the banking needs of the mass market segment. The Bank not only open up access to finance, but also provide Power program, the training and assistance to improve the capacity of clients to run their businesses, “Jerry said through a press release, Wednesday, July 24, 2013.
During the first semester of 2013, the program has reached 697 885 Power beneficiaries, up 31.7 percent compared to the first half of 2012 reached 529 991 beneficiaries. Number of Power Program activities are held during the first half of this year rose 83.6 percent also claimed the activity of 22 034 to 40 456 activity.
Speech from mass market to service the Bank also claimed the better. This is reflected in the Bank’s fund raising Sinaya. Value of public deposits grew 19 percent from Rp 40 trillion as of June 30, 2012 to Rp 47.7 trillion as of June 30, 2013.
Throughout the first semester, the Bank launched assets grew 23 percent (yoy) from Rp 52 to Rp 63.9 trillion. Similarly, net profit after tax grew 28 per cent (yoy) from Rp 921 billion to Rp1, 2 trillion. Meanwhile, the capital adequacy ratio (CAR) of 22.7 percent, well above the minimum ratio of 8 percent. »With the CAR of 22.7 percent, in the future we are sure to have enough room to grow,” said Jerry.

Home Based Industry Jeans, timeless Crisis

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Jakarta – Juki (29) issued dozens of cardboard jeans. With deft, one by one pants tires put on the sleeve completed in the wind. Jeans also expands and hand Juki greeted with giving red dye.

“It’s to let the jeans accessories colorful. Wage of Rp 500/celana I can,” said one of the Juki in jeans dye workshop in South Sukabumi, West Jakarta, Thursday (11/12/2008).

After manually colored with a brush, the pants washed through several stages. Afterward, the jeans are dried and ready to be sold over packed into cardboard.

“Not bad. Nope never drag orders. Always alone,” added Juki when alluded to the impact of economic crisis on demand process.

However, the order was decreased significantly after the crisis. Whereas in the past can bring home Rp 200.000/hari/orang, now only half. That is because the wage per piece pants 700/celana derived from Rp to Rp 500/celana.

“The important thing is not to be laid off. Fixed work,” said Juki.

In South Sukabumi district, there are at least 48 similar businesses. Kind of like a home-based business industry is often immune to the global economic crisis hit. Therefore, capital is not used sebombastis yag big industry.

“We were there just ngandelin money. So do not rely at other parties,” said Chairman of the Association of South Sukabumi Laundry, Rozali.

Kiris time ten years ago, many large-scale garment industries out of business. But not so with the cottage industry in the region. The key, in addition to its own capital, the market share of roadside pants up in malls and other modern market.

“Must be creative. If you do not so we had dispersed from the first-first,” said Rozali.

Ciputra Pours Rp 1 Trillion for Luxurious Rosewood Resorts and Villas

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JAKARTA, – Considering the high demand and scarce supply luxury class accommodation facilities (five of diamonds), PT Ciputra Property Tbk (CTRP) hasten the development of Rosewood Luxurious Resorts and Villas in Tabanan, Bali.

Project occupies an area of ​​80 hectares will begin the process in the first quarter of 2014, divided into several stages of development. Phase I covering 12 acres, contains 120 units and 140 hotel rooms, 40 of which concept villa is offered to the public with strata ownership. While his suite of 60 units.

Director of Ciputra Property Artadinata Djangkar said, in contrast to hotels classes 3 and 4, the luxury class hospitality business is a niche market with specific qualifications and special service standards. Players were relatively rare, because luxury hotels require long-term investment.

“Luxury will always be needed. Though a niche market is not as big as the economy and medium-sized hotel, but the outlook is uncertain and will continue to be sought. Proven average occupancy rate of luxury hotels in Bali 55-65 percent with a longer stay (length of stay) longer that 3 to 4 days, “said Arta to Kompas.com, in Jakarta, Tuesday (30/07/2013).

In order to realize the construction of the first phase, Ciputra Property poured funds amounting to Rp 1 trillion to fund a third of the company’s internal composition, a third of bank loans, and the rest is from the sale of villas strata.

Ciputra Property operation targeting the first phase in 2016 with a projected gross operating profit of Rp 60 billion per year. There is also the phase II area of ​​24 hectares will be started before the first phase opened.

Ciputra Property is a subsidiary of PT Ciputra Development Tbk (CTRA), which posted sales (pre-sales) during the first semester of 2013 amounted to Rp 237.6 billion. This amount is only 13.5 per cent of the annual target of Rp 1.75 trillion.

While they were able to achieve revenue was Rp 844.5 billion, an increase of 174 per cent rather than the first half of 2012 amounting to Rp 308.7 billion. In total, the amount of new revenue is 43 percent of the annual revenue target of Rp 1.95 trillion.

In addition to working on Rosewood Luxurious Resorts and Villas, Ciputra Property CitraDream also develop budget hotels in Cirebon, Semarang, Bandung, Yogyakarta, Serpong, Bintaro, Bengkulu and Banjarmasin and build superblock area of ​​7.2 hectares in Puri Indah, West Jakarta.

Craft Production Rises Mattress

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The level of production in the Village Prembun mattress crafters, District Prembun increased during Ramadan this year. In fact, the increase has been since the week before Ramadan. Previously, kapok 1.5 tons can be used for stock production for a month.
But this time, with the same amount of cotton can only be used for stock production of approximately 20 days. Crafters mattress, Bahmad (52) resident of RT 2 RW III, Prembun Village, District Prembun say, before and during Ramadan many people buy a mattress and pillow products.
It is one of the blessings of Ramadan and a source of additional income for crafters.
“I am currently making mattresses and more pillows than usual. Meanwhile I take the raw material of Semarang,” he said, Wednesday (17/7).
To fulfill incoming orders Bahmad employing 9 people that come from local residents. The work, carried out at the location of the home side. Keep in mind that Bahmad not calculate production based on the number of mattresses and pillows made ​​mattresses, but based on cotton material used.
Various mattress and pillows were then deposited into one large trader to be sold to the region and Yogyakarta Kedu. Retail price of the mattress was varied, ranging from Rp 200,000.

Bahmad explained, in addition to producing mattresses and pillows, she also received a mattress repair services for Rp 20,000. For additional kapok, every 1 kilogram will be charged Rp 2,000. Meanwhile, for the replacement gloves are charged Rp 50,000 to Rp 75,000, depending on the quality of the fabric.
“But, the numbers are still small, because on average people would rather buy a new one,” he said.

Cable Industry Optimistic ASEAN Free Trade Deal

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Jakarta-As preparations for the ASEAN Economic Community in 2015, Vice Minister of Commerce visited the factory wiring Krisnamurthi PT Supreme Cable Manufacturing Commerce (Sucaco) Tbk. Wires and electronic equipment is one sector which is set by default in the free trade in the region.
“It turns out we are ready to face competition because the company is apparently one of the best in ASEAN,” said Bayu at the factory Sucaco in Daan, West Jakarta, Monday, July 29, 2013. Factory covering an area of ​​14 haktare was already 41 years old and is one of the oldest cable factory in Indonesia.
According to Bayu, PT Sucaco been exporting its products to Japan and other countries in the Middle East are taking a higher standard of ASEAN. However, exports are now stalled because the domestic market absorbed all of its products.
As the economy grows, the need for cables and equipment in the country is growing. This additional requirement apparently was overtaken by the domestic industry in which the culprit was more than 100 companies.
As a result, Indonesia’s trade balance was a deficit of electronic products. Last year for example, the Central Bureau of Statistics noted that the export cable and electronic products only reach U.S. $ 7 billion, while imports reached U.S. $ 15 billion.
Jamallulail Noval, Chairman of Cable Manufacturers Association (Apkabel) states, the main obstacle in the cable industry is the issue of raw materials. Although Indonesia is producing copper and aluminum, but in fact the cable industry still has to import both these metals. “Because here there is no industry median, so it should be processed beyond the first,” he said.
Another problem, the import of raw materials seengah so it turned out to be between 10-15 per cent import duty. “It’s somewhat reduces our competitiveness for export markets,” said Noval.

Earnings Fall 22% Pawnshops Because Kraft

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Mortgage PT (Persero) recorded a decrease in net income to Rp 718 billion in the first half of 2013. The number is down about 22% when compared with net income in the same period of the previous year of Rp 929 billion. Profit decline was due to a continued decline in the price of gold on the market.

“The decline in gold prices greatly affect the performance of the company’s significant because when the price of gold fell Mortgage loan disbursement will face obstacles because its value will go down as the price of gold down,” said Director of Mortgage Finance Agus Dwi Pramoedya when met at the Central Office Pawn Kramat, Jakarta, Thursday (01/08/2013).

However, he said, although besih profit declined but remains the company’s turnover rose. In the first half of this year, the company’s revenue still grew by 6.5% to Rp 4.1 trillion over the same period the previous year which only Rp 3.8 trillion.

Total assets also go up to Rp 33 trillion in the first half of 2013, an increase of 13% when compared to its total assets in the same period the previous year which reached Rp 29.1 trillion.

From the business side, Pawn is able to achieve a turnover in the pawning business of gold amounting to Rp 46 trillion in the first half of 2013, an increase of 6% from the same period last year of Rp 43 trillion.

“It is conventional. If sharia as of June 2013 was Rp 6 trillion, Rp 5.5 trillion last year finished up 8.6%,” he said.

In addition, the company’s customers also increased 15% to 14.4 million in the first half of 2013, when compared to the same period of the previous year which only 13.7 million.

“Seeing this increase, we believe the mortgage business will continue to grow,” he said.

Mr. Marsa’ad Wooden Car Business

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Jakarta – Almost all the boys love toy cars. Who would have thought that nearly all wooden toy cars that are sold in the markets of Jakarta, is the result of handicraft factory UD Glad Son of Mr. Marsa’ad.

“I started this business in 1977. Originally a fad because my previous job bankrupt,” said detikFinance Marsa’ad when met at his shop, Kalibata, Jakarta, Sunday (03/08/2008).

57-year-old inspiration comes from his desire to make an effort to please the kids.

“I thought, who does not like toy cars,” said Marsa’ad.

With a modest capital, entrepreneurs whose real name is Omar is starting to open this business. He then worked with landowners in the Sky View to open a store there.

“So I was working with landowners. He provided land, my products. Distribution system with the results,” said Marsa’ad.

This toy factory located in Karawang. The manufacturer was not a big factory with advanced technology, but a cottage industry factories.

“So in Karawang, I apply a bulk messaging system at home factories there,” said Marsa’ad.

Bulk messaging system is Marsa’ad is purchasing system based on the unit, and the payment is made based on the number of units made. In modern terminology, the system outright Marsa’ad pack style is similar to the system of outsourcing.

“Because if we are using the system pay a bit troublesome. Again if they are lazy, the results of the unit a bit, I still have to pay them,” said Marsa’ad.

Integrated production mechanism is not retained by Marsa’ad for 30 years. Along the way, apparently by a mechanism like that, sir effort Marsa’ad never experienced the glory.

“The number of craftsmen we’ve reached 200 people. When the production very much at all, even exported to the Netherlands, Germany, Australia and Japan,” said Marsa’ad.

When it was the style of pack Marsa’ad craft products are sold in various cities in Indonesia such as Jakarta, Bogor, Tangerang, Palembang, Cirebon to Semarang.

“Even now, the actual demand is still very high, but we can not meet because our craftsmen now numbers only 40 puppets,” said Marsa’ad.

According to Mr. Marsa’ad, economic conditions became the main factor that led to the shrinking amount of factory labor. If the first UD Happy Child is able to produce 37 types of cars, now reduced by half to 18 types only.

Depreciation amount also cut production craftsman toy cars to a maximum of 500 units a month.

“In fact, the Dutch or German for example, they usually ask for 200 units once per country,” said Marsa’ad.

Labor issues apparently quite hamper business development Marsa’ad pack. Not factory integrated system that has been running for 30 years has been questioned by Marsa’ad pack.

“In these circumstances, I think to make a factory. However large enough capital around USD 300-500 million. Equity is to buy the warehouse, mesian and forth,” said Marsa’ad.

Had an integrated plant is realized, of course labor issues can be controlled. Moreover, according to Mr. Marsa’ad, in terms of the number of very high demand, so the future prospects of this business is not a thing to worry about.

“The proof, in the middle of the fuel price hike like this, when we raise prices, demand has not diminished,” said Marsa’ad.

Currently selling price pack Marsa’ad between Rp 35 thousand to Rp 175 thousand per unit. Required capital ranging from Rp 23 thousand to Rp 125 thousand per unit.

“But to make the factory, we hit the capital. Want to submit to the bank, but we do not have collateral. Moreover, banks also do not believe in this effort,” said Marsa’ad.

Even though it has still been a dream factory, but he hopes to realize her dream someday, either with their own capital as well as working with external financiers.

PTPP Rp 92.94 billion Dividend Coverage

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PT PP (Persero) Tbk (PTPP) will pay dividends of Rp 92.94 billion. The dividend equivalent to 30% of the net profit of Rp 309.68 billion in 2012.

Director PTPP, Bambang Triwibowo said net profit last year rose by 29% compared to previous year profit of Rp 240.22 billion.

“The increase in net income was bolstered by the acquisition of new contracts, increase revenue and efficiency and continuous innovation company,” Bambang said in a press conference at Headquarters PTPP, Pasar Rebo, East Jakarta, Tuesday (30/04/2013).

The plan, the dividend will be distributed to shareholders in June 2013. To revenue in the year 2012, the issuer’s stock PTPP coded, managed to reap Rp 8 trillion.

This revenue, an increase of 28.43%, when compared to last year’s Rp 6.23 trillion.

“To support the company’s long-term target of the future will be supported by the construction of 5 business, property, EPC, investment and other businesses such as industry,” he said.

This reason Yusuf Mansur Hotel Business Joint Venture Acquisition

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JAKARTA, – Ustaz Yusuf Mansur turns out to have its own reasons for making the business of the Joint Venture Enterprises congregation funds. Even the joint funds can be used to acquire the hotel and turn it into a hotel for pilgrims and Umrah.

Chairman of the Joint Venture business owned Enterprises Yusuf Mansur, Arief Mufti, said the reason for this famous preachers make the business because he believes that Indonesia is very rich. Even according to analyst projections, Indonesia is believed to be a superpower.

“But we was funny. Ustaz Yusuf Mansur right Betawi, he kept thinking of Indonesia’s property behind. He considers that the Indonesian people not to miss business. Treasures Do not let it circulate in certain sectors (foreign owned),” Aries said at the conference FSA press office, Jakarta, Monday (29/07/2013).

Aries regard, the joint business is a fund of the people, by the people and for the people. Therefore, these funds can be rotated to generate profitable business. However, Aries is still reluctant to comment on the value of the proceeds from a joint business venture, especially funds that can be used to acquire Paragon Hotel Soekarno Hatta airport in Tangerang district and is now converted into a hotel Siti.

“The issue of funding, there will be an official release. We did not make a statement about it. Data will be verified again, they are consolidated, so that there is no mistake,” said Vice Chairman of the Expert Council of Islamic Economic Society (MES) is.

Currently, the FSA suggested that Yusuf Mansur public companies to make business overshadow the Joint Effort. Because, so far, the business people do not obey the rules of the stock market, let alone the promised gains of up to 8 percent.