Accepting Payments Online Is Crucial to Your Retail Business

These days, it’s difficult to make your business thrive if you aren’t accepting payments online. Technology is developing by the minute, and as this continues to occur, less of your customers will be willing to pay using any method aside from an electronic transaction.

A survey by Parade magazine found that 85 percent of those who use the Internet are regular online shoppers. If your business doesn’t accept online payments, you are missing out on a huge amount of potential sales.

Why Do Consumers Prefer Online Payments?

It’s not hard to understand why online shopping has become a preferred choice for many. Buying what you need from the comfort of your own home will always be an easier option. However, one issue with ordering products and services on the Internet is security. If you want your business to begin accepting payments online, you will not only need to set up an online payment gateway, but you’ll also need to ensure that your customers’ private information will be safe. The way to do this is to process your transactions using a PCI compliant payment gateway like Allied Wallet.

What Can Accepting Payments Online Do for Your Business?

Boost Sales

Experts have estimated that 80 percent of impulse buys wouldn’t occur if the online merchant didn’t accept online payments. Unless you offer a product or service that can’t be found elsewhere, your business is going to fall behind the competition without an online payment system.

Improve Your Reputation

These days, almost all businesses are accepting payments online. If yours doesn’t, you will appear less professional than your competition. It takes a lot to succeed in a competitive market, and you won’t be able to stay ahead if your customers don’t trust in the security of the transaction process on your website or supply the ability to use credit and debit cards to make purchases.

Even if a customer is willing to use another payment method, he or she may find the process frustrating and choose never to purchase from you again. Negative reviews stick around forever. Choosing a secure payment gateway like Allied Wallet will help you build a solid reputation that will bring your business even more success.

The Payment Method of the Future

Most people have a handful of credit cards, and the amount of products and services purchased online using a credit card has been increasing by about 15 percent each year. The use of checks, on the other hand, is steadily declining. In 2005, it was estimated that only 11 percent of all purchases were made using a check. Since then this figure has continued to fall.

What Is PCI Compliance?

PCI stands for “payment card industry.” The PCI Data Security Standard (PCI-DSS) is a set of required standards that help ensure that online payments are processed securely. The PCI-DSS was created in 2006 to help improve the online shopping process and make things safer for consumers and business owners.

Allied Wallet is fully compliant as a PCI-DSS payment provider, which is why thousands of online merchants from all around the world put their trust in us. If your business needs to begin accepting payments online, please contact us today to discuss how we can help. We have successfully processed over a billion dollars in transactions, building a strong reputation for safety and security that is recognized by companies all over the globe. Get started now!

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