The Benefit of Multiple Payment Options Three Tips for Finding eCommerce Solutions

Written by Finance Video. Posted in First data virtual terminal, Merchant service providers, Payment processing solution

Electronic payment solutions

Did you know that eCommerce revenues are expected to top $21 billion in Canada for 2013? Growth in Canadian B2C eCommerce sales has been rising, with a 14.3% increase since the last year.

It’s important that online businesses have a variety of quick and easy payment solutions available for their customers or clients. To accept credit cards online, you will need to work with a company that offers payment processing services. Here are three things you should keep in mind while searching for the right online payment processing services for your business.

1. Providing Several Payment Solutions is Important

Did you know that some websites only offer one option for payment? Your customers might be using a Visa credit card, or they might prefer using their Paypal account. According to a study conducted by Comscore analytics, 56% of customers want to see a variety of payment options once they get to check-out. Having enough options for payment can impact whether consumers will complete the sale or not.

2. No Accounts Necessary

It can be tempting to keep already interested customers in your back pocket, and streamline future sales, by requiring them to create an account and sign in, in order to complete a purchase. Although there are benefits of this process, beware: many consumers absolutely detest having to fill out forms. Not only does it lengthen the initial payment process, but many users associate these forms with receiving a flood of unwanted promotional emails. At the very least? Allow the option of a “guest checkout.”

3. Payment Security Matters

Research by eConsultancy discovered that almost 60% of people who abandoned purchases at checkout did so because they were worried about payment safety and security. Alleviate their concerns by working with online payment processing companies that ensure safe handling and delivery of all information. Your processing company should adhere to the latest PCI guidelines concerning data security.

Does your site accept credit cards online using a secure terminal? Let us know in the comments.

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