Jan 23, 2014

Shopify Goes Mobile – How Have They Benefited From Doing So?

Shopify

The major e-commerce platform that is Shopify have recently made the major step to develop its online services into mobile services. In case you didn’t know, Shopify is the eight-year old Ottawa-based website which allows those to create their own shops online, and earn a profit through any sales that they happen to make.

The company made the move in early January, and introduced the mobile POS service as an app for the Apple iPhone. Although the days are still early, so far over 1,800 merchants have ordered it, and an Android version is expected, too. Product manager for Shopify Mobile, Carson Brown, says that they did so in order to provide its merchants with a better experience. The development was decided finally after polling its clients and finding out that a “large portion” had already turned into competitive mobile products. This shows that Shopify as a company are listening to feedback from its merchants, and will re-develop itself if needed in order to fit their needs, increasing their reputation as an e-commerce platform in the process.

Although there is both the online service and the newly-made mobile service, the two aren’t that different at all. Carson Brown also states that by developing a mobile service, they are “taking away lots of complexity” for its current merchants, and therefore making Shopify that little bit more convenient and present within the everyday busy lives of its clients. Not only this, but those behind the decision to develop Shopify into a mobile app recognize that they need to provide this edge that will more than likely keep their merchants using their services, as opposed to losing them to other gateways that are modernizing and simplifying their products first. Louis Kearns, director of payments, says, “It’s relatively easy for an online retailer to switch over to another gateway if you’re not providing everything they need”.

Overall, Shopify’s recent decision to go mobile is certainly showing to be a wise one. It is predicted that by the end of the year, Shopify will have about 160,000 merchants signing up. The service includes a monthly fee for its merchants, meaning that they will be earning a significant amount of profit if this many people really do join the platform. Going mobile is sure to give Shopify that much-needed edge in today’s e-commerce market, and sets its services apart as being simple, convenient and easy to use when on the move. Best of luck, Shopify!

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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 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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