Did you know, according to eMarketer, online sales passed the $1 trillion mark in 2012 for the first time? While one-third of 2011 e-commerce transactions were for travel and booking services, the fact is that all business-types utilizing online payment systems have access to a lot more potential income than they did in the past. If your business is looking for a relatively simple way to increase the amount of money you can bring in, consider implementing card processing online. Here are three ways it can help.
- Access to Online Revenue
- Convenience Equals Consumers
According to Norton, cybercrime costs American citizens $110 billion a year. By utilizing quality card processing online, you can avoid this fate for yourself and help protect your customers from predators. The trick is to make sure your provider of payment processing services is up to Payment Card Industry Data Security Standards (PCI DSS). These safety protocols apply to all organizations, regardless of their size or transaction amount. So long as you accept, transmit, and store cardholder data, these protocols will have you covered.
Are you aware that $1.25 billion was spent on Cyber Monday, the internet’s version of Black Friday, in 2011? That accounted for 12% of all online sales in the month of November. Many start-ups rely on services like Paypal to process payments online. While that is fine for a short period of time, the fact is not everyone is comfortable with using that form of payment or having to create a separate account for the purposes of shopping.
Offering card processing online gives you access to new customers whether you need to process business to business payments or business to consumer. Both of these buyer types have unique needs and require different processing services. For instance, if you are dealing with government or corporate buyers, you need to invest in level 3 processing services. Level 3 transactions, one of three levels, include item descriptions, quantity, discount qualifiers, and originating postal code.
Michael Bonfils of Search Engine Watch points out that credit cards are the most popular type of payment in the United States when it comes to online transactions and off. What this may translate to if you do not offer online credit card processing is lower sales for your company because you are effectively inconveniencing potential customers. Whether you work mostly with other businesses or private individuals, give them an easy way to buy to improve your sales.
As you can see, using card processing online can open your company up to a vast pool of potential income, protecting you and your clients while you do so. Companies specializing in b2b transactions exist as well as those for business to consumer outfits. What are you waiting for? Increase your income potential today! Continue reading here.