Customers are often on the lookout for bargains, price breaks or anything that convinces them that they are obtaining a great value for a service or product. That’s true whether they are shopping in a brick-and-mortar outlet or at a retail website.
Loyalty systems are a popular way for businesses to offer those advantages to customers, and many find they can provide an increased opportunity for customer retention and involvement. Website visitors might be more inclined to become repeat shoppers at a particular virtual storefront if they feel that they will be rewarded for their loyalty, for instance.
However, there’s a risk to this strategy for e-commerce ventures. A 2005 study at the German Institute for Secure Telecooperation noted that consumers sensitive to privacy issues might be reluctant to hand over the personal information merchants require to enroll them in a loyalty system.
In addition, experts note a loyalty program won’t reap many benefits if a retailer’s customer service experience is poor. Factors such as consumer support and ease of shipping are of particular importance, according to the website Practice eCommerce.
“There is a direct correlation between shipping days to the customer and repeat purchases – the longer it takes for a customer to get the purchase, the less likely they are to make a repeat purchase,” Jim Novo, an author and expert on customer retention, told the website.
As a result, it is important for merchants to ensure the tools they are using on their website are strong enough to support a pleasant customer experience. Their payment processing gateway and merchant account must be able to offer robust security measures, easy interaction and options for loyalty programs. If that’s not the case, it may be time for these merchants to consider a new merchant account provider and payment gateway.
Businesses that have opened a new merchant account for their retail website may soon benefit from a recent Federal Reserve Board ruling that will affect the transaction fees they pay to debit card issuers..
A strong payment platform is key as the holiday season approaches. In a tight economy, consumers may want to spread their holiday spending out over the course of a few months, which means merchants will need to have their websites optimized sooner rather than later.
The act of swiping a credit card in the checkout line of a store could soon be replaced by the act of waving a smartphone in front of a sensor, which may have greater implications on mobile commerce and internet retailers that provide..
Customers are often on the lookout for bargains, price breaks or anything that convinces them that they are obtaining a great value for a service or product. That’s true whether they are shopping in a brick-and-mortar outlet or at a retail website.
Owners of international, high risk or emerging businesses that require merchant accounts to accept credit cards online have many factors to consider when choosing a reliable merchant service provider.
Online merchants face more risk than ever. With the continued evolution of mobile payments and emerging technology, fraudsters are finding new vulnerabilities to exploit and new ways to steal money from your bottom line. Unfortunately, there’s also another culprit lurking around, often unknowingly denting your bottom line – the overuse of fraud tools.
With more individuals becoming comfortable with the concept of online dating, the industry has experienced a boom in terms of use and profitability. As a result, companies that provide this service need to ensure they’re making use of the most beneficial tools and strategies, including payment processors backed by high-risk merchant accounts.
Once a company determines it requires a high-risk merchant account, it must perfect its customer service model. In an era driven by social media interactions, the consumer-business relationship is more direct than ever before.
Established internet businesses may eventually find that the opportunity is ripe for them to expand to different international markets. This can be a critical step in the progression of any business, and entrepreneurs need to ensure they’re approaching this milestone with caution.
A new study on the buying activity of consumers using tablets may encourage more businesses to develop a mobile payment strategy that accommodates the devices. Arranging such a payment service in conjunction with offshore merchant accounts may allow companies to tap into a profitable market at a lower cost.
With the limited supply of US merchant banks that want this business and the increase in affiliate and friendly fraud targeted towards the dating industry, it is virtually impossible to keep a dating website live long-term..
Whether they are working with domestic-based merchant accounts or offshore merchant accounts, e-commerce businesses need to keep on top of the money they spend to maintain these financial tools…
