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Table of Contents

Lead Story

Compliance: a costly, multi-headed monster

Patti Murphy

News

Industry Update

Cross promotions roll on VisaNet rails

Lucky7Coin bad luck for Cryptsy

New checks target mobile deposit fraud

Downstream networks detect Wendy's breach

Features

Millennials and the payments game

Managing digital stakes

Views

Your strongest, weakest LinkedIn

Dale S. Laszig
DSL Direct LLC

The outlook for payments: Five questions

Greg Cohen
iPayment Inc.

Education

Street SmartsSM:
Know your customer acquisition costs

Jeffrey I. Shavitz
TrafficJamming LLC

EMV: Where we stand, where we're heading

John Buchanan
Cayan

Understand and honor confidentiality

Adam Atlas
Attorney at Law

Targeting retail SMEs can kill your ISO's value

Adam Hark
MerchantPortfolios.com

Company Profile

Cayan

New Products

Mobile CRM powers automotive, marine industries

Brandable, wearable, secure payment platform

Inspiration

Sales gardening 101

Departments

Readers Speak

Letter from the editors

ISOMetrics: Cybersecurity pressure cooker

Boost Your Biz

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

February 22, 2016  •  Issue 16:02:02

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Readers Speak

Move over Yelp!

I think your readers would benefit by knowing about Feefo, a resource for them and their merchants. Feefo is a secure, closed feedback reviews service that engages consumers and invites them to leave feedback about a service or product, using their transaction receipts to verify purchases. It's a simple process that ensures reviews can be trusted, leading brands to become recognized worldwide.

Now in its third year, Feefo also just announced the Trusted Merchant Awards for 2016. The accolade – which is given to national and international merchants that have received consistently high scores in their Feefo customer service reviews throughout the year – was awarded to over 1,400 businesses this year.

Businesses need to have an average customer satisfaction service rating of between 85 and 100 percent to receive the acknowledgement. In 2016, the qualifying merchant's average service rating was 91.5 percent, meaning that nine out of 10 of their customers received a positive experience.

From travel to retail, tool supply to motors, hardware to healthcare and finance to food – merchants are showing that independently collected, purchaser-verified reviews are the best way to fuel business insights and customer satisfaction. Only genuine customers who have made purchases are invited to leave feedback, eliminating the phenomenon of fake or biased reviews, while also ensuring that those who have picked up the accreditation are truly deserving of the recognition.

We also urge industries and businesses that are falling a little short of qualifying for recognition to monitor their customers' sentiments and take remedial action. Using customer feedback in this way will certainly help them achieve greater success.

Melisa Young Feefo Inc.

What have you discovered lately?

Do you know of an innovation that will help your colleagues be more effective in serving merchants? Given the shifting emphasis away from offering payment processing services at the lowest price and toward becoming consultants who provide merchants with tools and ideas to help them flourish, this is a time of great potential for growth among the industry's feet on the street. Do you agree? Please send your ideas and feedback to greensheet@greensheet.com.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

USAePay | Impact Paysystems | Electronic Merchant Systems | Inovio | Board Studios, Inc.