By Fernanda Mathias
The payments environment evolves fast and has become a complex global network. Technological advances have changed the way people purchase and deal with payments.
Research shows that the number of consumers making mobile purchases doubled from 2010 to 2017. In 2020, 45% of consumers used their smartphone for mobile shopping.
If you own an online shop, this is the time to evaluate your planning and what you can offer to your customers to increase profit and improve customer experience.
Here are a few tips to help you rethink your online business strategy.
Adopt alternative payment options
Accepting debit and credit cards as a payment option is an essential step for online businesses. Once your e-commerce business has this payment platform, you can then add alternative payment methods such as digital currencies and offer multiple payment options to your customers. — With iPayTotal, the integration is seamless and will not change your business model.
Digital currencies, or cryptocurrencies, were a significant breakthrough for the e-commerce universe. They are a fast, cheap and secure way for merchants to provide services and goods. They also have many advantages compared with credit cards and other payment methods.
Bitcoin is already known as the most popular digital currency, and its popularity keeps growing with the market’s recent news. Large corporations like Tesla have started accepting the coin as a payment option, bringing more attention and value to it.
Improve your online shopping experience
The online shopping experience is as important as the product itself. You may have a great product and business model, but if your customer cannot purchase the product, you will end up with an empty cart.
There are many reasons behind cart abandonment, such as insecure websites, slow platforms or poor payment solutions. Luckily, there are effective ways to solve these problems if you make the right choices.
Make sure you have a safe shopping environment
Fraudulent activity is still a significant threat to merchants who own online businesses. Cybercriminals are more creative in their attempts to steal customers’ information, money and the merchant’s revenue.
A report recently stated that in 2019, unauthorised financial fraud losses across payment cards, remote transactions and cheques in the UK totalled £824.8 million.
Merchants must be prepared with the best tools to prevent their businesses from online fraud.
A simple solution to change your business
iPayTotal can help you transform your online business strategy by providing every tool you need to succeed as an online merchant. When it comes to Bitcoin payment processing, we are leaders providing high-quality services at fair rates for high-risk businesses and pay-outs in Bitcoin.
We have a clear perspective on the future of payment processing trends. We can offer the best solutions for high-risk merchants who need multiple payment alternatives to ensure a safe environment and a transparent operation.
Contact us today at iPayTotal to find out more about our customised payment solutions.