The choice between different payment solutions is imposed on online sales sites. It is both a guarantee of seriousness for the consumer and an effective means of reassuring them, hence the importance of offering a range of payment methods in order to attract new customers and retain others. A strategic act when we know that the site sector is becoming more and more competitive. The e-commerce barometer shows still exponential growth in ecommerce, marked this year by a boom in sales on marketplaces and m-commerce. For ISO Merchant Services this is important.
Solutions According To the Needs of the Company and Its Customers
Before offering payment methods on an online sales site, it is important to understand the needs of the business and the specificities of the market. The effectiveness of payment methods depends on several factors:
- The company’s strategy and its needs (commercial issues, number of sales, national, European or international catchment area, etc.),
- The characteristics of the products sold (services, luxury products, etc.),
- The price of the product,
- Customers and target markets.
The Bank Card, the Great Classic
It is one of the most commonly used means. Via a payment network (Visa, MasterCard, American Express, JCD), all you have to do is use your bank card to finance the purchase. The customer communicates certain confidential data such as the 16-digit number, the 4 digits of the validity date and the last 3 digits of the pictogram on the back of the card. In order to avoid fraud and to reassure the purchaser, online stores use, for example, the SSL protocol which makes it possible to encrypt the messages transmitted.
Payment Methods Facilitating the Purchase
E-merchants choose this type of payment if they want to conquer a market, facilitate the transaction or encourage reluctant customers to purchase.
3 times free of charge: This financing solution allows a buyer to pay in three monthly installments. This means is particularly suitable for small one-off expenses (furniture, computer equipment, clothing, gifts, etc.).
Online credit: It also makes it possible to spread the payment by monthly installment. It is interesting for small purchases.
Payment by check: It happens that Internet users are reluctant to give their credit card number on an online site. It may be wise to offer them payment by check. One drawback: this mode involves manual processing.
PayPal: During the purchase, the Internet user pays via an account of the company PayPal, which he funds by order of transfer by e-mail. Setting up this system is a good way to reassure customers that the sale is safe. This service is chargeable. Depending on the offers that PayPal offers, 1.9% to 3.4% + 0.25 € are deducted from each transaction.
Means of Loyalty
Do you want to retain your customers? Several solutions are available to you.
Private cards: They give the buyer a flexibility of payment (payment in several monthly installments, postponement of 3 months) with key advantages (accumulation of points, voucher).
The one-click shopping system: Loyalty tool par excellence, it gives the possibility of purchasing any product with a single click, after recording data during a previous order.