GLOBAL ECONOMY,
ELECTRONIC MP3 PAYMENTS AND YOU
The irony of the
situation is: as the markets become
bigger, the market places become
smaller. Today, any body can purchase a
product from any where in the world and
sometimes they do so with out knowing
that they are doing it. The internet and
e – commerce has advanced so much that
you can shop in an hour what you would
shop in a day, previously. And even
better, you can do all this right from
your desktop. The online merchants are
facing huge demand that they are finding
it difficult to serve their customers
online. In a few cases the merchants are
forced to sacrifice their local stores
to keep up with online customers. If you
are an online merchant, then you should
have realised by now that the future is
electronic payments, online transactions
and keystroke marketing.
Many of the people in the
market who still have physical stores
think about shutting them down and focus
on online business, eliminating huge
amounts of overhead. This thinking
becomes much stronger when the cost to
maintain the physical store becomes very
high. In addition, the online shopping
is a lot cheaper and convenient for the
customers that travelling, which costs
fuel that is becoming costlier by the
day. Which ever way one looks at it
shopping over the net is more
convenient, cheaper and easier.
If you are an online
merchant then the types of electronic
payments that you offer to you customer
will determine your success. The online
banking industry has grown very quickly
to become a technologically advanced
industry. They now offer several
solutions which have made it extremely
easy for the consumers to pay for what
they have bought. The online merchants
can now maintain their storefront also.
Providers of Merchant
Service are firms who offer their
services to ecommerce vendors who are
domestic or international. For most of
you, the current service provider for
your electronic payment needs is either
a credit card processor or your local
bank. Unfortunately, these providers
leave you with only one option in most
cases. However, the merchant has many
options now. You can choose from an
array of payment options and also tailor
the processing solutions by your self so
that if best suits your business. A few
of the hot services offered by the
service providers are multi currency
processing, retail merchant accounts,
high risk merchant accounts both off
shore and domestic and online merchant
accounts. Some of these accounts come
with unlimited processing volumes and
virtual terminals for credit cards.
The pitfalls or
challenges that are faced by this
industry are online fraud, chargeback’s
and identity theft. These not only
affect the customers but also the
merchants and their providers.
Therefore, the merchants cannot be
carefree or else they will burn their
hands.
Today, most of the
merchants do business with the service
providers than going directly to their
banks. The reason behind this is that
these companies are focused on service
industry and therefore provide much
superior services than the banks. Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |