Home » Blogs » billyr's blog
» Get Beyond the Credit Card: Expanding E-Commerce Globally

Get Beyond the Credit Card: Expanding E-Commerce Globally

Submitted by billyr on 29 Jun 2009

The majority of purchases made online in the United States are paid using credit or debit cards. Worldwide, however, other payment methods are more popular. In fact, in some countries, less than half of purchases are made via credit card. E-Commerce outlets that don’t take these other payment methods into account are actively limiting their income potential.

To put this into context, recent studies show that E-Commerce sites offering four or more payment methods convert at a full 22% higher rate. In other words, adding wire transfers, PayPal, direct debit and local bank transfers can actually increase an online merchant’s conversion rate from the low 60% level to the low 80% level. With a projected E-Commerce purchase volume expected to reach over $355 Billion in North America alone over the next three years, failing to meet this requirement qualifies as a substantial business risk.

More specifically, the online spending of Europe is expected to match that of North America by 2011 or so. However, more Europeans do not hold a true credit card than do (except in the United Kingdom, where slightly over 60% hold a credit card). In the key demographics, this is even more pronounced: 53% of European consumers in the 16 – 24 age group have no credit card. The behavior exhibited in E-Commerce is therefore predictable: 56% of purchases from Germany are paid with electronic bank transfers, as are 43% of those in the Netherlands and Sweden.

Adding payment methods to an in-house E-Commerce solution can be complex and problematic. While connecting to a credit card processing service, or to an online payment method like PayPal, is relatively simple, adding Direct Debit, electronic funds transfer or systems like Germany’s Giropay require extensive development and paperwork.

A hosted E-Commerce platform such as the one offered by Plimus eliminates much of this complexity. With Plimus, merchants implicitly have access to the primary preferred payment methods for each region where they do business. In Germany, merchants have access to local systems like Giropay and Sofortueberweisung; in Japan, Virtual Currency; in the Netherlands, Ydeal; and so forth. As there is no additional cost for these methods, nor integration required to add them the merchant’s portfolio, the ROI on a potential 22% conversion growth is clearly substantial.

Click here to learn more about the payment methods offered, and for more details about the Plimus service.
 

nice

Submitted by kalayan on 20 Nov 2009.

in-house E-Commerce solution can be complex and problematic. While connecting to a credit card processing service, or to an online payment method like PayPal, is relatively simple, adding Direct Debit, electronic funds transfer or systems like Germany’s Giropay require extensive development and paperwork.auto air conditioning

Many American's are trying to

Submitted by kyri on 17 Nov 2009.

Many American's are trying to settle credit card debt, so I wouldn't be surprised if even American ecommerce shifted away from the use of credit cards and into something similar to what we see with Eurpoeans.

Looks like the author has

Submitted by kumartin... on 16 Nov 2009.

Looks like the author has massive awareness in the subject. Thanks you for the info
display stand

Shopping mall is actually a

Submitted by jhonny w... on 16 Nov 2009.

Shopping mall is actually a shopping market in a building where each and every type of thing are available specially rich people can be found here.

melbourne shopping tours

Air jordan shoes

Submitted by topboots... on 14 Nov 2009.

Thanks for your useful info, I think it’s a good topic. So would you like the info about the
jordan shoes
Air jordan shoes
ugg boots uk
classic ugg boots
Tiffany Jewelry
ugg bailey button boots
cheap jordan shoes
cardy ugg boots
Michael jordan shoes
ugg nightfall boots
ugg boots sale
sundance ugg boots
air jordan fusion 6
air jordan 6 rings
jordan shoes for sale

nice posts

Submitted by kalayan on 14 Nov 2009.

E-Commerce solution can be complex and problematic. While connecting to a credit card processing service, or to an online payment method like PayPal, is relatively simple, adding Direct Debit, electronic funds transfer or systems like Germany’s Giropay require extensive development and paperwork.oem auto parts

Alcohol Rehabs

Submitted by cliffsid... on 13 Nov 2009.

Alcohol treatment cannot be equal to drug treatment. Moreover many “exclusive” treatment services in Los Angeles make the mistake of treating alcoholics and drug addicts the same method, while if the challenge faced by one group were similar to those faced by the other. But this cleanly isn’t the case. The fact is that alcohol addiction presents it’s wounded with a unique set of challenges on the road to recovery. An exclusive Alcohol Rehabs center that fails to recognize that much, can’t ever possibly expect to help its clients get where they need to go.

The Cliffside Malibu understands the nuances of alcohol rehabilitation. Cliffside’s alcohol treatment experts are important numbers in the field, and take a fantastic wealth of knowledge to their work. Of all the fashionable alcohol rehabs existing, this is why Cliffside is the special alcohol treatment purpose for expensive clients from as far away as Thailand and the Philippines. It’s also why there should be no doubt as to where your interests will be best served.

Alcohol recovery is an extraordinarily easily broken process. To complete it successfully, you’re going to need exactly the right kind of care from exactly the right kind of caregivers. Cliffside Malibu can give it to you with their private alcohol rehab programs. All that remains, now, is for you to make the right choice. The day you arrive at Cliffside’s secluded private estate will be the day you start remembering why you ever believed tomorrow to be a thing worth looking forward to. For the sake of the people who care about you, here’s hoping you can muster the courage to do what you must.

how to earn money online and

Submitted by edward12... on 12 Nov 2009.

how to earn money online and use it for online shopping?

Thanks,
Business marketing

It is a great article which

Submitted by pilmus on 12 Nov 2009.

It is a great article which gives lot of information and facts about our network and also which will be very helpful in building our reputation all over the world
Sex Toys

interesting

Submitted by kalayan on 9 Nov 2009.

This topic was very interesting .I enjoyed well while reading.I will recommend my friends to read this one for sure.In other words, adding wire transfers, PayPal, direct debit and local bank transfers can actually increase an online merchant’s conversion rate from the low 60% level to the low 80% level.Shopping

java

Submitted by java on 7 Nov 2009.

I think paying using credit or debit cards for online shopping is very good.

commercial finance

May be because in some other

Submitted by Keith Ru... on 4 Nov 2009.

May be because in some other parts of the world people stay away from using credit cards because of the numerous frauds that they tend to listen and read regarding credit cards. People in some countries are not big spenders like Americans and they spend when they know they can repay.

Keith.

mnb

Submitted by mnb on 4 Nov 2009.

Purchases made online in the United States are paid using credit or debit cards will save the time.

flooring

It's amazing how e-commerce

Submitted by csorenso... on 3 Nov 2009.

It's amazing how e-commerce has advanced.

A couple of years ago everybody was afraid of paying with credit card.

The whole 'putting my data into a website form' was worth a scandal for many internet users.

Nowadays most married women in my neighborhood do their supermarket shopping via websites.

The future is now.

Carlos from aparts pinamar

globalization of payment systems

Submitted by ISellOnl... on 30 Jun 2009.

I wish they could get together and integrate and make it easy so we do not have to cater to ten million different payment systems.

Online Sellers