There are currently 2.1 million online retailers in the U.S. and 7.9 million in the world. Without a doubt, building an online store is an exciting undertaking. It’s a great opportunity to expand your reach, gain new audiences, and further research and develop your product or services. The key is to make sure you partner with the right providers and...
In spite of the strict regulations and lockdowns brought on by COVID-19, eCommerce has experienced startling growth. According to the United Nations Conference on Trade and Development, there was an increase in online retail sales’ share of total retail sales from 16% to 19% in 2020. Global sales shot up to $26.7 trillion in 2019, which was an increase of...
While many are looking forward to the holidays, taking a much-needed respite from the woes of the world, scammers are gearing up for a new holiday season of swindling. This year, the Better Business Bureau (BBB) has published what they call their “Naughty List” with the top scams that can catch shoppers off guard this holiday season. Social media platforms...
When a business has been determined to be high risk, it means that credit card processors have deemed this business prone to a higher than normal rate of chargebacks and an elevated risk for financial failure. Payment processing is also at a higher risk, especially in the e-Commerce space. Merchants have assumed this risk, however, payment processors and acquirers stand...
Merchants’ “lack of routing choice” in e-Commerce costs them “billions of dollars each year”, according to the Merchants Payment Coalition (MPC). The MPC is a trade group that represents gasoline, supermarket, convenience store, as well as other retail chains. Larger merchants have been pressing for the Fed to make much-needed changes to the current rules that govern transaction routing and...
Cart abandonment is a serious problem for online retailers. There are literally hundreds of studies surrounding cart abandonment and its statistics. Some have reported that cart abandonment was as high as 80% while others have reported being as low as 55%. Barilliance conducted a study and found that the average cart abandonment rate to be 77.24% in 2016 and it...
Contactless payments have surged since the outbreak of the COVID-19 pandemic. Companies worldwide have struggled to pivot their operations to accommodate the new mandates of social distancing and limiting as much contact as possible between customers and employees. Some organizations have explored the use of the ever-ubiquitous smartphone to convert it into a powerful payment processing unit. Instead of using...
B2B E-commerce Marketing Strategies To Drive Conversion Like any other online business, your B2B e-commerce initiative cannot work effectively without a solid marketing strategy to back it up. B2B customers want timely, relevant, and accurate product/service information before deciding to purchase online. And digital marketing plays a critical role in providing them all the data they need while also increasing site traffic...
For any online retailer who desires to grow and stay on the path of online retail success, taking credit and debit card payments is an absolute must. The greatest challenge is determining the best payment processor. Choosing the wrong processor can result in paying exorbitant fees, lost revenue due to fraud, and lack of conversion due to security issues. Your...
When you decide to embark on the journey of launching your own online business, there is much to consider. The most important goal is having the capability of accepting credit payments. In order to make this happen, you will need to acquire an internet merchant account. Like any service you seek, you must be keen on knowing what you will...
