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FastSpring Assist: 2024 Q1 Updates From Buyer Assist


Estimated learn time: 9 minutes, 26 seconds

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

Want FastSpring help? Go to our Assist web page.

FastSpring gives 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 help. Arrange a demo or attempt it out for your self.

Discover the Energy of Changelog Integration in Our Documentation

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

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

  • Improved Efficiency: Keep forward of the curve by leveraging the newest options and optimizations for a smoother and extra environment friendly person 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.

The way to Entry the Changelog

To entry the Changelog, you have got two choices:

  1. Direct Entry: Go to  https://developer.fastspring.com/changelog to achieve the Changelog immediately.
    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 offered above.
  2. FastSpring Docs: Click on on the “Changelog” hyperlink positioned on the prime of the touchdown web page inside FastSpring Docs.

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

A screenshot of FastSpring's new changelog as integrated into their Documentation pages.

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

The way to Seek for Changelog Gadgets

  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 can be displayed.
A screenshot of the search functionality in FastSpring's new changelog as integrated into their Documentation pages.

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

By no means miss a beat with our platform updates through the use of 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 tip of the changelog URL:  https://developer.fastspring.com/changelog.rss
  2. After getting your URL, you should 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 newest 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 Assist Information Supervisor 

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

As we embark on a brand new yr, it’s essential to remain knowledgeable in regards to the newest updates relating to taxation and international VAT charges. Listed here are some vital highlights for the quarter:

Yr-Finish Tax Varieties for 2023 Exercise  

Now we have been busy making ready and mailing all required tax paperwork previous to the January 31, 2024 deadline for all sellers assembly the required standards. 

In case you are a US vendor with proceeds exceeding $20,000 and interesting in 200 or extra transactions throughout the yr, it is best to have obtained IRS Type 1099-Okay, Cost Card and Third Social gathering Community Transactions

International sellers incomes US supply revenue topic to withholding will obtain IRS kind 1042-S, International Individual’s US Supply Revenue Topic to Withholding. Nonetheless, it’s price 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 lowered $600 threshold till 2024. In case your 2023 exercise didn’t surpass $20,000 and 200+ transactions, you’ll not obtain Type 1099-Okay.

To make sure correct year-end reporting, please verify your tax standing or replace your mailing deal with info by finishing the W8/W9 digital questionnaire right here.

Understanding Gross Proceeds

It’s important to differentiate between gross proceeds and earnings. Bear 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 added steering, check with our FastSpring assist paperwork on info reporting.

International VAT Price Adjustments — Efficient January 1, 2024

Keep knowledgeable about current adjustments in international VAT charges:

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

We perceive that these adjustments could affect your corporation, and staying knowledgeable is essential for easy operations. In case you have any questions or want help, our help staff is right here to assist.

Wishing you a affluent yr forward!

Beth Thorpe
Senior Platform Assist 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 Reality Sheet — a complete information crafted to streamline ecommerce transactions to your B2B consumers.

Whether or not you’re a seasoned vendor or new to our platform, our up to date B2B Onboarding Reality Sheet is the go-to useful resource to assist your purchaser by way of the seller setup and ecommerce transaction course of. The included info will 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 easy and environment friendly vendor setup course of.

Obtain the very fact sheet right here or level your consumers to our Buyer Assist Portal to the Checkout and Buying > Arrange FastSpring as a Provider menu, the place they’ll entry it immediately.

Thanks for selecting FastSpring as your trusted enterprise associate. We stay up for persevering with to serve you and your consumers with excellence.

Beth Thorpe
Senior Platform Assist Specialist

Fraud, Chargebacks, and Mitigation Methods

As Benjamin Franklin properly famous, “In life, there are two constants – loss of life 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 document (MoR), FastSpring handles cost processing whereas carrying the duty of guaranteeing respectable 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 results of chargebacks will be detrimental each within the brief and long run.

FastSpring’s devoted Threat staff diligently displays chargebacks and takes a proactive strategy by conducting thorough assessments earlier than deciding to combat the chargeback. This cautious consideration is a part of our dedication to supporting our prospects 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 charge, chargebacks by cost methodology, and way more!

Chargeback Mitigation Methods

Outlined under are eight steps that we recommend 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 have to 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 Assist by clearly displaying contact particulars, providing a number of communication channels (e-mail, cellphone, dwell chat), and promptly responding to inquiries.

2. Proactive Buyer Communication

Common communication with prospects, together with order updates and automatic notifications at varied buy phases, minimizes misunderstandings. If potential, look into using e-mail or SMS alerts for order and supply confirmations, fostering transparency and wonderful buyer satisfaction.

3. Present Wonderful Buyer Assist

Equip your Buyer Assist staff with the data and instruments vital to deal with buyer considerations promptly and professionally. Coaching is vital to resolving points effectively and sustaining a constructive buyer expertise.

4. Doc and Observe Buyer Interactions

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

5. Examine and Reply to Chargebacks

Upon receiving a chargeback notification, it is best to promptly examine the case, accumulating related proof comparable to order particulars, communication historical past, and proof of supply. Ought to this occur to you, please attain out to threat[at]fastspring.com. 

6. Collaboration is Key

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

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

8. Constantly Enhance

Conduct periodic assessments of your chargeback administration course of, in search of suggestions out of your buyer staff and from prospects themselves. Determine areas for enchancment and implement methods to reinforce the general buyer journey, finally decreasing chargebacks and fostering a constructive relationship along with your prospects. For subscription administration, yow will discover out extra info from Visa and Mastercard on cost reminders.

Observe the above eight steps to guard your corporation from fraud and chargebacks whereas constructing sturdy buyer relationships. Implement clear insurance policies, talk proactively, supply wonderful buyer help, 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 charge calculated?

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

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

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

A: Your chargeback charge mustn’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 charge is below management as quickly as potential if it does start to rise.

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

A: Easy reply: Sure, they’ll. Chargeback information is routinely 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 gives 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 help. Arrange a demo or attempt it out for your self.

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