Cashing in on E-Commerce | Holiday Shopping Season Lessons

Jan 13, 2020

eCommerce is on the rise all around the globe. Why? It’s simple! All consumers need is just a click of a button to buy goods from any corner of the world. Let’s move forward to dive more into the topic and find an exceptional payments expert for you.

eCommerce Is Growing Globally

Retailers are looking for ways to take more advantage of the modern world of commerce. So, global online shopping is expected to further make customer experience more convenient and frictionless. That’s why it’s critical for merchants to provide consumers with more than one payment option.

This can never be an issue if you work with a respectable payment processing specialist like eMerchantBroker.com. Being rated the top high risk credit card processing company in the U.S. EMB is dedicated to offering the latest and safest payment processing solutions to both low and high risk eCommerce merchants. The rates are among the lowest, and the approval is without any challenges.

Did you know that U.S. shoppers who preferred to visit offline stores in 2019 accounted for 6.2% less traffic? However, sales prevailed. National Retail Federation (NRF) reports that Black Friday turned to be the busiest day for U.S. online shopping.

In 2019, the Thanksgiving Weekend witnessed about 190 million shoppers who spent an average of $361.90. This refers to both online and in-store sales. As for Cyber Monday, the latter accounted for $9.4 billion in sales in the U.S., and Black Friday resulted in $7.5 billion, as Adobe reports.

2019 Holiday Shopping

The holiday shopping season plays a critical role in growing your business. In fact, it can account for up to 40% of annual sales. In 2019, U.S. shoppers spent more time online during the holiday shopping season, according to MasterCard Inc. Specifically, electronic commerce sales hit a record high, as MasterCard’s senior adviser Steve Sadove reports.

So, even though 2019 saw a shorter holiday shopping season, U.S. retailers started their Black Friday deals earlier as compared to previous years. When it comes to Thanksgiving, the latter account for a record $4.2 billion electronic commerce sales, as Adobe reports. By the way, it’s the 1st time Thanksgiving online retail sales have topped $4 billion, thus representing a 14.5% increase from 2018.

As you see, global electronic commerce sales are on the rise. That’s with good reason: consumers visit stores less often and prefer to make purchases via their phones, tablets, and desktops.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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