Listen to this Article
Alternative payment systems are on the rise, and it's turning out to be a win-win scenario, with multiple payment options boosting sales and increasing revenues for ecommerce merchants, while at the same time, opening up payment options and increased privacy for a wider variety of consumers.
GoECart remains at the forefront of this area of ecommerce, boasting an extensive payment support approach that is fully compatible with all leading payment gateways and processors. In addition to standard payment methods including real-time credit cards, major credit and debit cards, and e-gift certificates, GoECart supports TeleCheck and PayPal Express Checkout, with Google Checkout integration in the works and expected to be announced soon. GoECart merchants can accept virtually any form of payment in any currency.
What the Experts Are Saying
Forrester Research, in their recent report, The Checkout Tools That Boost eBusiness, states, "As online businesses struggle to find ways to maintain double-digit growth year after year, a slew of options that aim to boost checkout conversion have emerged as promising tools in the quest to grow sales. PayPal, Bill Me Later, and Google Checkout, as well as a few other upstarts, are solutions with the potential to address eCommerce dilemmas of stagnant conversion and shopping cart abandonment rates."
According to research firm CyberSource (a payment option supported by GoECart), merchants who support payment types beyond credit cards (gift certificates, e-checks, etc.), typically see significant increases in online sales. And merchants who offer more payment types have lower shopping cart abandonment rates and up to 20% higher order conversion on average.
MarketingSherpa's Ecommerce Benchmark Guide 2007 reports that shopping cart abandonment rates have dropped because consumers have more options from which to choose. A few years ago, online purchases were paid solely by credit cards. Today, these choices have multiplied: 17% of the large eCommerce web sites they studied in their audit between Dec'06 and Jan'07 accept PayPal and Bill Me Later options.
This is good news for merchants, says MarketingSherpa, because the service charges of the new payment providers are lower than the amounts charged by credit card companies, and, because it has sprouted new groups of potential customers, namely those who wish to defer payments and those who are concerned about privacy (which may account for up to 30% of the online population).
PayPal is the easiest way for web merchants to accept credit cards on the Internet. PayPal allows businesses and customers to securely, conveniently, and cost-effectively send and receive payments online. PayPal offers a global, real-time payment solution built on its existing financial infrastructure of bank accounts and credit cards. GoECart was one of the first shopping cart solutions to receive PayPal certification. GoECart's integration with PayPal allows online merchants to accept secure payments from their customers using any of PayPal's payment options.
Because of GoECart's special partner relationship with PayPal, GoECart merchants would soon qualify to receive massive discounts on payment processing via PayPal. Please send e-mail to mailto:Sales@GoECart.comto inquire more.
With Bill Me Later, customers do not need to provide a 16-digit number when making a purchase, nor do they need to set up an account in advance. Using minimal information provided by the customer at point of sale, a real-time credit decision is made. Once the purchase is authorized and settled, Bill Me Later sends the customer a bill with flexible payment terms similar to those of a credit card.
Bill Me Later allows merchants to offer a better buying experience while enjoying increased sales, average order value and repeat usage, and lowering transaction costs.
Additionally, Bill Me Later gives merchants access to previously unreachable customers: those who, because of security concerns, are reluctant to use their credit card for phone or web shopping; those who do not have their credit card at hand at the time of transaction; and, in some cases, those who do not have credit cards.
Google Checkout is a checkout process that you integrate with your website, enabling your customers to buy from you quickly and securely, using a single username and password. And once they do, you can use Google Checkout to charge their credit cards, process their orders, and receive payment in your bank account.
Online shoppers often start with a Google search. Google's search advertising program, AdWords, helps them find you through targeted text ads that appear beside Google search results. Now you can add the Google Checkout badge to your AdWords ads, which highlights your store and tells potential customers that shopping with you will be convenient and secure.
Lengthy checkout processes frustrate online shoppers who then frequently abandon their shopping carts. When your store accepts Google Checkout, your customers needn't be among them. The purchasing information of every Checkout user is stored in a single account, so they can buy from you by simply providing their username and password
From November 8, 2006 through December 31, 2007, Google Checkout merchants can process their Google Checkout sales for free.
Click here to sign up for your FREE Google Checkout Account.
Boasting nearly 40 years of experience, TeleCheck (a subsidiary of First Data Corporation) is a leading Check Payment Processing company that offers a range of eCheck payment options to customers. Their expertise in the field has enabled them to create products and services that empower customers by reducing their operating expenses and enhancing cash flow, resulting in greater sales.
Online shoppers often start with a Google search. Google's search advertising program, AdWords, helps them find you through targeted text ads that appear beside Google search results. Now you can add the Google Checkout badge to your AdWords ads, which highlights your store and tells potential customers that shopping with you will be convenient and secure.
With the industry's most comprehensive risk management and recovery programs backing up their products and services, TeleCheck also offers unmatched security to its customers.
In line with GoECart's commitment to build partnerships with industry-leading service providers that offer the highest grade of service, this integration enables merchants to securely and conveniently accept electronic check payments in real-time over the Internet.
Increase Your Sales and Profits
If increased sales and profits along with a growing and satisfied customer base are among your top priorities, web merchants would do well to look into expanding your online payment system options.
With the industry's most comprehensive risk management and recovery programs backing up their products and services, TeleCheck also offers unmatched security to its customers.
Did you know that GoECart offers unbeatable rates on merchant accounts and online credit card processing solutions?
Listen to this Article