FastSpring Help: 2024 Q1 Updates From Buyer Help

Estimated learn time: 9 minutes, 26 seconds

Get the most recent from FastSpring’s Help leaders about vital tax updates, fraud and chargeback methods, our new Changelog, and extra.

Want FastSpring assist? Go to our Help web page.

FastSpring offers an all-in-one cost platform for SaaS, software program, and digital merchandise companies, together with VAT and gross sales tax administration, cost localization, and shopper assist. Arrange a demo or strive it out for your self.

Discover the Energy of Changelog Integration in Our Documentation

In our steady efforts to reinforce consumer expertise and maintain you knowledgeable concerning the newest updates to our platform, we’re excited to announce a big change to changelog accessibility. We are actually integrating our Changelog instantly into our Documentation Website, offering you with a seamless expertise to remain updated with all the most recent releases and enhancements.

Staying knowledgeable concerning the adjustments to our platform is essential for a number of causes:

• Improved Efficiency: Keep forward of the curve by leveraging the most recent options and optimizations for a smoother and extra environment friendly consumer expertise.
• Bug Fixes and Enhancements: Our dedication to offering a seamless expertise means common bug fixes and enhancements. Maintaining with updates ensures you profit from these enhancements.

Entry the Changelog

To entry the Changelog, you might have two choices:

1. Direct Entry: Go to  https://developer.fastspring.com/changelog to succeed in the Changelog instantly.
   Please bear in mind that we’re transitioning away from the present Changelog web site at changelog.fastspring.com. Whereas this web site will nonetheless be accessible alongside the brand new Changelog for a restricted time, we encourage you to begin utilizing the up to date hyperlinks supplied above.
2. FastSpring Docs: Click on on the “Changelog” hyperlink situated on the prime of the touchdown web page inside FastSpring Docs.

Changelog updates will show with the newest updates on the prime.

Changelog posts from 2015-2020 can be found on the archived submit situated on the backside of the changelog posts displayed.

Seek for Changelog Objects

1. Click on on the Search icon in FastSpring Docs.
2. Click on on the Changelog filter.
3. Enter your search textual content, and search outcomes for Changelog will likely be displayed.

Now you can simply seek for particular launch gadgets or flick thru the complete changelog to discover latest updates.

By no means miss a beat with our platform updates by utilizing the RSS feed for our Changelog. Right here’s how one can set it up:

1. Observe FastSpring’s changelog RSS feed by simply including .rss to the top of the changelog URL:  https://developer.fastspring.com/changelog.rss
2. Upon getting your URL, you need to use any RSS feed widget/device to enter the URL and generate HTML to embed it.

With these adjustments, we goal to make it simpler so that you can keep knowledgeable, engaged, and empowered with the most recent updates to our platform. Discover the Changelog on FastSpring Docs and subscribe to the RSS feed for a seamless and proactive replace expertise!

Patty Novrocki
Buyer Help Information Supervisor 

Navigating the Tax Panorama: Key Adjustments That Demand Your Consideration in 2024

As we embark on a brand new 12 months, it’s essential to remain knowledgeable concerning the newest updates concerning taxation and international VAT charges. Listed below are some vital highlights for the quarter:

Yr-Finish Tax Kinds for 2023 Exercise  

We now have been busy getting ready and mailing all required tax paperwork previous to the January 31, 2024 deadline for all sellers assembly the required standards. 

If you’re a US vendor with proceeds exceeding $20,000 and fascinating in 200 or extra transactions throughout the 12 months, you must have obtained IRS Type 1099-Ok, Cost Card and Third Celebration Community Transactions. 

Overseas sellers incomes US supply revenue topic to withholding will obtain IRS kind 1042-S, Overseas Particular person’s US Supply Revenue Topic to Withholding. Nevertheless, it’s value noting that this can be a uncommon prevalence. 

Please regulate your mailbox for these vital paperwork if relevant to you. 

Delayed Implementation of the $600 Threshold

The IRS has postponed the implementation of the diminished $600 threshold till 2024. In case your 2023 exercise didn’t surpass $20,000 and 200+ transactions, you’ll not obtain Type 1099-Ok.

To make sure correct year-end reporting, please affirm your tax standing or replace your mailing handle data by finishing the W8/W9 digital questionnaire right here.

Understanding Gross Proceeds

It’s important to tell apart between gross proceeds and earnings. Keep in mind, you pay taxes in your earnings, not your gross proceeds. Gross proceeds are used to compute your revenue, factoring in returns, allowances, working bills, and extra. For extra steerage, seek advice from our FastSpring assist paperwork on data reporting.

World VAT Price Adjustments — Efficient January 1, 2024

Keep knowledgeable about latest adjustments in international VAT charges:

• Singapore GST price elevated to 9%.
• Switzerland VAT price elevated to eight.1%.
• Estonia VAT price elevated to 22%.
• Luxembourg’s non permanent 1% VAT price discount, which expired on the finish of final 12 months, is again as much as 17%.

We perceive that these adjustments might affect your small business, and staying knowledgeable is essential for clean operations. In case you have any questions or want help, our assist crew is right here to assist.

Wishing you a affluent 12 months forward!

Beth Thorpe
Senior Platform Help Specialist 

Quarterly B2B Onboarding Replace: Your Full Information to Seamless Transactions!

As we kick off the brand new quarter, we’re thrilled to current our up to date B2B Onboarding Truth Sheet — a complete information crafted to streamline ecommerce transactions to your B2B patrons.

Whether or not you’re a seasoned vendor or new to our platform, our up to date B2B Onboarding Truth Sheet is the go-to useful resource to assist your purchaser by way of the seller setup and ecommerce transaction course of. The included data might be imported into buyer-specific doc codecs or to buyer onboarding portals as you assist them full any distinctive buying necessities to make sure a clean and environment friendly vendor setup course of.

Obtain the very fact sheet right here or level your patrons to our Buyer Help Portal to the Checkout and Buying > Arrange FastSpring as a Provider menu, the place they will entry it instantly.

Thanks for selecting FastSpring as your trusted enterprise companion. We sit up for persevering with to serve you and your patrons with excellence.

Beth Thorpe
Senior Platform Help Specialist

Fraud, Chargebacks, and Mitigation Methods

As Benjamin Franklin correctly famous, “In life, there are two constants – dying and taxes.” 

Within the realm of e-commerce, a 3rd fixed arises: fraud. 

Fraud encompasses deceitful actions to illicitly purchase items, companies, or monetary benefits.

As a service provider of file (MoR), FastSpring handles cost processing whereas carrying the duty of making certain authentic transactions. FastSpring has applied the next efforts to successfully detect and mitigate fraudulent actions:

• Rigorous fraud prevention measures, together with collaboration with superior third-party techniques.
• Continuous monitoring.
• Common updates and verification of purchaser identities.
• Upkeep of safe cost processing techniques. 

Chargebacks

On the planet of on-line transactions, a chargeback refers back to the reversal of a credit score or debit card cost initiated by the cardholder’s financial institution. This reversal is usually triggered when a cardholder alleges {that a} transaction resulted from fraud or abuse. The implications of chargebacks might be detrimental each within the quick and long run.

FastSpring’s devoted Threat crew diligently displays chargebacks and takes a proactive strategy by conducting thorough assessments earlier than deciding to struggle the chargeback. This cautious consideration is a part of our dedication to supporting our clients in managing and mitigating the affect of chargebacks successfully.

FastSpring Instruments

The Chargeback Overview Dashboard is out there on FastSpring’s Contextual platform for a fast snapshot of your chargeback metrics, together with present chargeback price, chargebacks by cost methodology, and far more!

Chargeback Mitigation Methods

Outlined beneath are eight steps that we advise implementing to help you in minimizing potential chargebacks and establishing lasting buyer safety.

1. Implement Clear Insurance policies and Communication Channels

To cut back chargebacks, you could set up clear refund insurance policies, prominently featured in your web sites and in buyer communications. Offering finish customers with a refund choice mitigates chargeback probability. Moreover, guarantee accessibility to your Buyer Help by clearly displaying contact particulars, providing a number of communication channels (electronic mail, cellphone, reside chat), and promptly responding to inquiries.

2. Proactive Buyer Communication

Common communication with clients, together with order updates and automatic notifications at numerous buy levels, minimizes misunderstandings. If doable, look into using electronic mail or SMS alerts for order and supply confirmations, fostering transparency and wonderful buyer satisfaction.

3. Present Wonderful Buyer Help

Equip your Buyer Help crew with the information and instruments vital to handle buyer considerations promptly and professionally. Coaching is vital to resolving points effectively and sustaining a optimistic buyer expertise.

4. Doc and Monitor Buyer Interactions

Preserve an in depth file of buyer interactions by way of a CRM system (or comparable device). It will assist observe communications and supply worthwhile insights into recurring points.

5. Examine and Reply to Chargebacks

Upon receiving a chargeback notification, you must promptly examine the case, amassing related proof equivalent to order particulars, communication historical past, and proof of supply. Ought to this occur to you, please attain out to danger[at]fastspring.com. 

6. Collaboration is Key

Set up a relationship with the FastSpring Buyer Help crew, ensuring you keep knowledgeable by using our documentation and subscribing to our changelog. Search steerage on efficient chargeback navigation, and keep knowledgeable about any updates which will affect your chargeback administration technique.

7. Analyze Chargeback Developments

Recurrently assessment your Chargeback Overview Dashboard within the FastSpring platform to establish traits. Share insights with related stakeholders, and collaborate with the FastSpring Help crew to arrange webhooks for well timed alerts.

8. Repeatedly Enhance

Conduct periodic assessments of your chargeback administration course of, in search of suggestions out of your buyer crew and from clients themselves. Determine areas for enchancment and implement methods to reinforce the general buyer journey, in the end lowering chargebacks and fostering a optimistic relationship along with your clients. For subscription administration, you could find out extra data from Visa and Mastercard on cost reminders.

Observe the above eight steps to guard your small business from fraud and chargebacks whereas constructing sturdy buyer relationships. Implement clear insurance policies, talk proactively, supply wonderful buyer assist, and constantly assess and enhance. FastSpring is dedicated to supporting your journey for sustainable development and top-notch buyer satisfaction within the ever-evolving ecommerce panorama.

Fraud, Chargebacks, and Mitigation FAQ

Q: How is my chargeback price calculated?

A: Your chargeback price is the variety of chargeback transactions throughout the given interval divided by the whole variety of transactions throughout the identical interval.

Mastercard calculates their chargebacks barely in a different way — complete variety of first chargebacks this month / earlier month’s complete variety of gross sales transactions.

Q: What number of chargebacks are thought of too many?

A: Your chargeback price shouldn’t exceed 0.90%, which you’ll be able to see in your Chargeback Overview Dashboard within the FastSpring platform. FastSpring has an early warning threshold of 0.65% to make sure your chargeback price is below management as quickly as doable if it does start to rise.

Q: Can my finish customers get banned for submitting too many chargebacks?

A: Easy reply: Sure, they will. Chargeback knowledge is robotically fed into the FastSpring fraud engine, and this serves as a key sign for all sellers throughout the FastSpring platform.

Gareth Earney
Buyer Success Supervisor

FastSpring offers an all-in-one cost platform for SaaS, software program, and digital merchandise companies, together with VAT and gross sales tax administration, cost localization, and shopper assist. Arrange a demo or strive it out for your self.