Consumers like payment options and retailers need to comply

Order Management

As the economy normalizes and retailers return to profitability, expansion is likely on the minds of many merchants. Some will want to move from one city to the next, others to another state and perhaps another country. In the latter case, retailers need to consider a variety of changes that may impact doing business in another country.

For instance, new research suggests that while credit cards are the de facto way that shoppers pay in the United States, that may not be the case elsewhere in the world. The ZippyCart report found that South American consumers, many of whom are just being introduced to eCommerce, are hesitant to trust retailers. They don't want to input credit card information at just any retail location, which in a way similar to American shoppers a decade ago.

So how can retailers adjust to this obstacle? ZippyCart suggests offering more payment options. This will require a bit of research on the behalf of the retailer as, depending on the target market, shoppers may prefer different means of paying. In Africa, for example, eCommerce wallet M-Pesa is the preferred payment method of choice among online shoppers. Globally, PayPal, Google Checkout, SagePay, WorldPay and NetBanx are favorite payment tools.

"Online retail sales are projected to increase by leaps and bounds," the news source explains. "When the customer base is ready to buy, your business should also be geared up really well towards providing payment systems that customers want to use. In doing so, you can rest assure you are doing the best to increase your online store's sales."

Managing a variety of payment options

While accepting a variety of payments is a surefire way of securing sales from customers who might otherwise abandon their shopping carts, accepting a number of payments also adds another level of complexity to retail operations. Merchants will need to work with multiple payment vendors and set up their eCommerce sites to be able to handle all these different payment methods.

Retailers should utilize eCommerce software to help integrate their website payment processing systems, not to mention giving their customer service and sales teams added ability to process payments outside the shopping cart. This can make the management of all these different payment systems much easier for merchants, helping to consolidate orders and sort transactions, regardless of the way they choose to pay.

Leave a Reply

Your email address will not be published. Required fields are marked *