Previously, we covered cards and mobile transactions. In this post we’ll explore Ecommerce as a new payment channel for your business.
Traditionally, starting a business to sell goods and services meant creating a physical space where customers make purchases. Luckily, these days you no longer need to have a physical storefront to start a business.
Since the introduction of online stores, more and more people are able to start a business or expand their existing business with little capital. Low cost and easy setup make it a much more attractive option.
Once you have a website, the next steps are to create a virtual store and set up a checkout process to accept payments. Your customers will then have the ability to buy goods or services from your business anytime, anywhere. The greatest advantage of Ecommerce is the ability to quickly expand your audience and extend your reach across the world.
More and more shoppers are browsing for the product they want in-store, but buy it online. They also prefer to shop online to avoid crowds and line ups, especially during the holidays. If you are not online, ready to accept payments, you will be missing out on potential sales and business growth.
To learn more about Ecommerce and other new payment channels check out The Merchant’s Guide to New Transactions