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Choosing your payment method: a strategic choice for your e-Commerce site!

Cosmina Trifan
Cosmina Trifan
Chief Marketing Officer

The objective is simple: boost your conversion rate and thus sell more!

New studies show that in 2013 trading sites had a sales figure of up to 1 173 billion Euros, which translates into a growth rate of 13.6% at global level.

Despite this double-digit growth, e-Commerce remains structured around major and highly-specialized niche sites such as Amazon, PriceMinister, eBay, etc.

Irrespective of the actors’ size or maturity, the main problem encountered by most e-traders is the conversion rate. Despite massive investments in marketing pillars such as web traffic, social networks, web design… only 2% of the visitors are actually making a purchase on e-Commerce sites.

Facilitating action taking, fighting against shopping cart abandonment

One of the critical stages of the purchasing process on any e-Commerce site is the payment stage. This is the moment when users decide whether to make a purchase or abandon their shopping carts. Integrating an innovative payment method has never been more strategic: to convert traffic into sales, users should be given the possibility to quickly settle their purchases in a user-friendly and secure manner.

Various market solutions allow us to meet these requirements but the first question that one must ask oneself when choosing an online payment method is related to distance selling:

  • Banking solutions based on distance selling?
  • Third-party solutions based on distance selling contracts (Paybox, Ogone, Be2Bill)?
  • Solutions without a distance selling contract (Paypal, etc.)?

Last week I attended a presentation on a third-party online payment solution based on a conversion-oriented distance selling contract, Be2Bill, that I had previously heard of during the “Shake Your Ecommerce” event held in Marseille.

Be2Bill is positioning itself as a unique payment service provider that proposes both the opening of a distance selling contract and technical solution implementation with centralized access to most of the payment features:

  • 1-click payment (Amazon type) directly on product presentations (this method is already a Must-have for many of our clients apart from Magento)
  • Payment in various steps
  • Detachable freely configurable 3D secure payment (where you can define your own criteria: product, amount, delivery mode, postal code, etc.)
  • Amex, Paypal
  • Confirmation page that can be customized according to error codes in case of payment failure, thus facilitating the recovery of failed transactions

I was simply impressed by this easy-to-customize solution that you can easily integrate into your CMS thanks to its plug and play module: CSS recovery for a payment page of your chosen colors, carefully designed ergonomics that recovers all the ongoing transaction data for the new legal framework of the Consumer Rights Directive, call2action, etc. In brief, this is an interesting solution worthy of our attention that may offer an increased value added to your site payment stage.

Last but not least, this is no longer a secret for anyone: the most important thing is to identify the solution that best suits your online sales project. Sales offers have been widely diversified and technical developments have led to brand new solutions such as the Bitcoin virtual currency, Facebook Credits, or the Apple’s Touch ID.

No need to worry! Our consultants are more than qualified to help you distinguish among all these solutions. Don’t hesitate to contact me to put you in touch with an e-Commerce specialist that may quickly provide you with a solution to your online sales problems!

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