The online face of a company has never been more important – and this issue is arguably most significant when it comes to the transfer of money for a product.
All the marketing, sales and web development investment that has gone into your business proposition is essentially aimed at that moment when a person is convinced enough about the service to hand over a given quantity of cash – but until the transaction is confirmed you can still lose the sale, which should demonstrate why your payment gateway is so crucial.
When a firm signs up to merchant accounts on the internet to process customer payments, they might only be concerned with how much it will cost, yet this fails to take into account the potential for checkout basket abandonment that a poor system could bring with it. The consumer may have been impressed by your product, but they also need to trust the payment process if you are going to make the sale.
In simple terms, your payment gateway needs to transmit an air of professionalism and functionality, leaving no room for the customer to doubt whether they are going to have problems with the process, both in terms of a security perspective as well as from a convenience point of view.
While the internet has been around for long enough for people to generally trust using their cards online, if the information shown on-screen is in anyway incorrect or oddly presented, plenty of users would back away. The same goes for the functionality of the online merchant account; if the payment system is struggling to cope with a transaction then it will lead to abandonment.
From a base of professionalism and functionality, you can use the international merchant accounts to expand your reach or produce a more impressive platform on which your customers can spend their cash. While you should always aim for simplicity on a payments page, it can help to give additional options for specific demographics.
For example, many organisations have an international client base and such customers might prefer to carry out their transactions in their own currency or another specific money, perhaps the US dollar or the euro. Anything to help your prospective customer feel more comfortable about their purchase is going to help you and this type of option may help boost your geographic reach.
Whether your firm deals in services or physical products, delivery will be important. There should be no doubt in the buyer’s mind as to how they will be getting their purchase – it should be completely clear to them which areas of the world you operate in and what this means for possible customers.
The expansion of a firm to meet international demand is a hugely encouraging step, but it goes without saying that the organisation needs to be ready to meet such demand before going ahead with it – everything related to the logistics of getting the item or service to the buyer must be researched thoroughly so as not to disappoint them after the payment gateway.
Elliot Robinson is a professional adviser in finance and business sector working for the last 10 years. He has sound experience in online payment gateways and shares few tricks to carry out online business successfully. For more information http://www.firstatlanticcommerce.com/merchants/international-merchant-accounts.aspx