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[May 9th, 2001]
To accept credit cards online, three distinct e-commerce components are required: a card-not-present merchant account, a payment processing system, and a secure order interface. These components compose the infrastructure of an e-commerce website – a platform that should provide security, speed, and convenience to both customer and merchant alike.
If you are a web merchant, you realize that real-time credit card processing is increasingly central to the success of your online business. And it's self-evident that e-commerce systems (from shopping carts to payment processing services) should be as reliable as they are scalable - so your business can mature, grow, and prosper.
By itself, real-time credit card processing is a fantastic thing. But here's the problem…
Many merchants never look beyond “real-time” to understand what features and conveniences are included in a comprehensive payment processing service. Currently, there are numerous e-commerce vendors offering real-time payment services. However, many of these solutions fail to provide the tools you may need to achieve the business goals you've set for yourself.
So if knowledge is power – and e-business is powered by technology - it pays to understand all the potential features and benefits of the technology you depend on. In other words, providers of partial or rudimentary e-commerce products won't tell you about what's missing or deficient in their solutions. That's up to you to figure out.
Beyond real-time and automation, here's a checklist of important features to look for when selecting an e-commerce solution to meet your business goals.
Flexible Shopping Cart Software
Before your customers check out, they will need to check in. That's why a customizable, feature-rich shopping cart is vital. A flexible shopping cart (one that integrates seamlessly with your site) will facilitate fluid, shopper-friendly e-commerce. And the more options and choices your shopping cart provides, the freer and more comfortable your customers will feel. A worthy objective.
Secure Hosting / Rapid Transaction
Two words: industrial strength SSL encryption and a non-nonsense high-bandwidth data center for your secure hosting. I realize that's more than two words, but reliability and security are e-commerce lynchpins.
Virtual Terminal
A real-time automated credit card system for your website will eliminate the need for awkward manual processing of online orders. But what about orders taken by phone, fax, or in person? A virtual terminal will give you flexibility to take orders offline as you simultaneously accept credit card payments on your website.
Recurring Billing
Selling a service online? Providing subscriptions? Have distributors or returning clientele? If so, a recurring billing feature is more than a nice convenience.
Support of Multiple Business Models
You may be selling shippable products at the moment, but what if you want to include downloadable goods? Or a subscription service? Flexible e-commerce is scalable e-commerce – and you can judge a provider by the range and depth of the business models they support.
Comprehensive Reporting
If you're serious about your e-business, it means having access to client billing and transaction data. A web-based administration center will give you the ability to administer your account, to generate manual transactions such as authorizations, captures, credits, or voids, and to track transaction activity through comprehensive online reports. Third-party payment processors often lack this crucial business fundamental.
Effortless Implementation and Easy Storefront Management
Today, implementation of e-commerce solutions are getting quicker and easier. But make sure your storefront management software is user-friendly and comprehensive (so you can change pricing, add or delete products, modify attributes etc) so you won't be dependent on costly 'experts'.
Real Time Tax /Shipping Calculation
Online shoppers want to know tax and shipping details. Solid e-commerce products will allow you to add tax and shipping costs in real time - and account for pricing by state or by International order. That's a great convenience for your customers – and all pricing worries are dispelled quickly.
Merchandising Features and Customer Accounts
Want to boost sales at your online storefront? Here's a way to actually market with your shopping cart by presenting complementary products to shoppers or by creating an up-sale process that corresponds to customer selections. Also, customer accounts can be set up to provide frequent shopper programs, discounted pricing, and special product availability.
Customer Support and Integrated Systems
Your e-commerce is only as good as the customer support that comes with it. Seek out a vendor with superior, round-the-clock customer service. Also, look for integrated systems that consolidate your e-commerce platform: your merchant account, payment processing, and order interface/shopping cart software. Now you have a streamlined system and consolidated customer service, too.
Once you understand the spectrum of features in an e-commerce technology, you can grasp their corresponding benefits and what those benefits will mean to your business. Once the benefits become clear, selecting an e-commerce provider will be an informed, intentional decision.
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