Monday, 10 August 2015

Meet Daniel Wicharz

Daniel Wicharz
Today, Promote Me Please welcomes our first guest in the online finance business. Daniel Wicharz, who lives in Germany, agreed to answer five curly questions about credit, especially as it applies to artists.

Q.1. Briefly, what is your experience in the online payment business? ­ 
A.1. I work in the online and payments industry since 2008. My experiences are driven by my work for PayPal and Skrill. 

Q.2. People in artistic fields often have unreliable or uneven incomes. For them, a line of credit makes sense for use when between payments. What would you advise is the best option for such artists? ­ 
A.2. In general a credit itself can be useful especially for people who need to buy something straight away without having the time to finance an item like for instance a vehicle or an expensive instrument. The issue of debt itself is not so big in Germany. Here most people do pay their card balance fully at the end of the month. 

Q.3. What are some features to look for in a credit card? ­ 
A.3. A card needs to A) protect the consumer and B) help him to make payments quickly and remotely. With 3Ds for Mastercard and verified by Visa most cards nowadays protect on the one hand side the consumer, but also on the other hand side the seller from fraud. 

Q.4. What advice would you give someone looking for a reliable means of online payment? ­ 
A.4. I would for sure advice to look for a provider who can give you control over fraud tools. Thus you can influence your risk appetite and boost your conversion rate the way you like it. I think fraud settings should totally be in control of the seller. Given you have a high margin like for instance an online game publisher you can accept a certain amount of fraud and you can set soft fraud checks in order to boost conversion. But if you sell for instance jewelry with a high basket size and perhaps a lower margin, you are probably better off setting strict fraud settings protecting you and perhaps lower the conversion rate a bit. 

Q.5.You see the credit/online business from a different angle. Do you have any expert opinions to share? ­ 
A.5. Online payment dominates the way we pay and becomes increasingly important, even offline. More and more people use for instance mobile devices that are NFC enabled to pay. So I think that online payment options will spread also to “real” physical store locations. This will increase the consumer experience and also tackle fraud, tax evasion and theft.

Thanks, Daniel!

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