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  • 10 Best Online Payment Methods for Businesses - Online payment solutions are essential for just about any type of business. Booking and making payments online is convenient for many consumers, so it’s important to make sure your business is keeping up.
    Topics: online, payment, business, pay, best, payments, stripe, methods, businesses, platform, offers.
  • - The best ecommerce platforms for Printful users leverage native integrations and APIs to ensure you can easily automate various aspects of your print-on-demand business model. Printful is easily one of the most popular print on demand solutions in the market… Continue reading 11 Best Ecommerce Platforms for Printful Print on Demand (2023)
    Topics: tools, best, selling, platform, printful, month, demand, store, solution, print, ecommerce, sales, platforms, payment.
  • 14% more ecommerce companies in Ukraine since 2019 - The number of ecommerce companies in Ukraine has increased by 14 percent since the beginning of 2019. In the same period, the average income of domestic online sellers has grown 1.5 times. Especially, ecommerce companies located in the cities of Dnipro and Kiev have shown some significant growth in average… Continue reading
    Topics: companies, income, ukraine, whitepaper, users, study, average, online, payment, ecommerce.
  • 15 Mobile Payment Systems for Merchants - Mobile payment systems provide flexibility to consumers and merchants while unifying online and offline operations. Here is a list of mobile payment services for merchants. There are point-of-sale systems, digital wallets, mobile hardware, software for mobile and web applications, and more.
    Topics: credit, payment, payments, accept, price, online, pay, cards, systems, mobile, card, merchants.
  • 5 CBD Industry Predictions for 2022 - There’s no doubt that the CBD industry has exploded quickly since hemp first became federally legal in 2018. With the…
    Topics: marketing, cbd, legal, thc, look, industry, predictions, hemp, payment, processing, processors.
  • 5 Top Reasons Ecommerce Carts Are Abandoned and How to Give Shoppers Checkout Confidence - If there’s one silver lining about living in an era of wild uncertainty, it’s the surge in digital innovations, including…
    Topics: sezzle, cart, reasons, payment, customers, checkout, shopping, abandonment, deserted, shoppers, pay, costs, carts, ecommerce.
  • 5 Ways to Capture Millennial and Gen Z Customers - The rise of Millennial and Gen Z powerhouses and how they are shaping the shopping landscape, forcing companies to adapt or risk being left behind.
    Topics: solution, shopping, connected, millennial, flexible, millennials, gen, online, payment, z, payments, experiences, businesses, capture, banking.
  • 5 Ways to Improve Checkout Process - This is an update to a previous blog published on October 13, 2022. As we approach the busiest shopping season of the year, it’s critical to review all aspects of the shopping experience. Your goal is to make the experience as seamless, quick, and convenient for your customer every step of the way. One of the key areas of the shopping experience is checkout. We joined with payment provider and Elastic Path Payments partner Stripe, for a webinar based on recent findings from a Stripe and Edgar, Dunn and Company study regarding best checkout practices in North America. The webinar asks the critical question, “Is Your Cart Black Friday Ready?” We were joined by Kevin Flynn, Retail Industry Lead at Stripe for his insight into how best to create checkout experiences to meet customer demand and expectation. From a pool of the top 200 eCommerce businesses across the U.S. and Canada, the study found 96% of the companies surveyed had at least FIVE basic checkout errors. They include deficits in the following areas: Checkout Form Design Localization Mobile Optimization Buyer Trust Security Let’s dive into the challenges and the solutions presented in the webinar surrounding each key area… Checkout Form Design Here we see an alarming insight into the shopper experience. As many as 1 in 5 eCommerce shoppers would abandon a transaction if it took more than one minute. Challenges within the experience from the study tell us that as much as 56% of checkouts took longer than three minutes to complete. In addition to timing issues, another point of friction comes from unspecified error messages causing the shopper to abandon the transaction altogether. So how do you address this customer pain point that dramatically affects conversion rates? With easy design solutions: Support Auto Complete. As the shopper types in address or region information, allow for an auto-fill function to shave off a few seconds on the clock.   Format credit card blocks. Make it as easy as possible to enter numbers, expiration date, and the CVC security code.   Offer to save the card details. As easy as a check box, it will save time and convenience for the next visit your shopper makes to your site.   Specify the roadblock. Is it an expired card? Have they left off a number from the security code? Be upfront and clear with messaging so the shopper knows exactly what to fix to complete the transaction. Localization Payments are not created equal in the shopper’s mind. How we pay is dramatically influenced by where we are in the world. “Just as cultures differ around the world, so does the way we pay. There will be some kind of different aspects that will be reflected in payment method.” Kevin Flynn, Retail Industry Lead, Stripe From credit cards, to bank transfers, to digital or mobile wallets, the preferred payment method varies depending on geography. For instance, 40% of shoppers surveyed outside the U.S. and Canada prefer to pay with a method other than a credit card. As many as 15% of shoppers in European markets abandoned a transaction because their preferred method of payment was not available. Localization of payments is fundamental to completing the purchase. Your customers expect it. The great news is that country specific payment options boost conversion rates. Instances where customers offered optimal localized methods saw a 40% boost in incremental sales. Kevin points to methods with an uptick in popularity beyond the traditional credit card, such as Buy Now Pay Later (BNPL). The alternative, installment-based payment method is largely popular in the UK, New Zealand, and Australia, and is gaining traction across North America.   Shopping Cart & Checkout Solutions Ensure your Customer Feel Connected Up Until the End of Checkout Go to Checkout Solutions Mobile Optimization The world has clearly gone mobile. The study tells us that 56% of eCommerce traffic occurs on a mobile device. Maybe not surprising to today’s brands and retailers, but let’s look at just how mobile optimization and payment is tied to conversion rate from the shopper’s view. An overwhelming 62% of surveyed shoppers said it’s either “very” or “extremely” important that sites be mobile friendly. Front end developers need to be aware of this statistic as they format sites and the fact that abandonment rates on mobile are twice that of a desktop. The shopper's expectation is to complete the experience through checkout entirely on a mobile device. Surveyed results give us more context about the rising star of payments: Mobile Wallets. Branded options such as Google, Apple, or Samsung Pay are widely preferred across Asian and European markets, with the payment option picking up steam across North America. What are the critical points behind mobile optimization to improve conversion? Offer mobile payment or digital wallet options. Auto resize the screen specifically for a mobile device. Enable a one-click, mobile-first intuitive experience. Buyer Trust & Security The final two areas covered in the webinar are around shopper trust and security. As Kevin points out, buyer trust and payment security is a delicate balance. While customers want a rapid checkout experience, they want personal information safeguarded in the process. One of the easiest ways to alleviate shopper stress around personal security is to allow the customer to check out as a guest. Card information and personal details are not stored in the guest checkout experience as they would from a password-protected account. Additionally, Kevin shares a social media checkout option. With this alternative, shoppers trust a social media platform where their personal details are stored in a profile, and in many cases, this type of checkout expedites the process down to a single click, once the account is connected to the cart. Survey data tells us that brands are not supporting this option: Ninety percent of eCommerce brands in North America did not allow social media checkout options; those numbers were slightly lower globally with 77% in the Asia-Pacific region, and 85% in Europe not providing the experience.   In the North American region, 18% of brands did not allow guest checkout, while Asia-Pacific regions came in at 32%, while Europe came in at a slightly higher 41% not providing a guest checkout experience. Related to buyer trust, there is a learning moment for brands. If there are issues within an order such as incorrect quantities or a forgotten discount code, shoppers want to rectify the situation from a single screen or an order summary, without the hassle of scrolling back through multiple screens. According to survey results, as many as 22% of North American eCommerce sites did not offer an order summary option, with Asia-Pacific coming in at 15%, and Europe rounding out the findings at just 8%. The message is clear from consumers: make it easy, fast, and convenient or expect cart abandonment. Meet Your Customers Where They Are There are many critical findings to consider as you prep your eCommerce business for Black Friday and the holiday season. Interested in seeing the webinar in its entirety? Or check out the Black Friday Checklist we’ve compiled to meet customer demand and drive revenue during the largest shopping weekend of the year. 
    Topics: checkout, experience, improve, shoppers, payment, ecommerce, mobile, customer, ways, shopper, north, trust, process.
  • - Businesses need to stay ahead of the curve to meet their customers' needs. One such advancement for doing so is contactless payments via smartphones. Mobile payments offer a convenient, fast, and secure way for customers to pay for goods or… Continue reading 6 Best Choices for Accepting Contactless Payments in 2024
    Topics: choices, payments, features, platform, best, accepting, pay, shopify, businesses, contactless, payment, supports, pos.
  • 8 Top Payment Processors - If you’re launching any sort of business you’ve thought about payment processing. With so many choices in the marketplace, the selection process can be a daunting one depending on what works best for your business. A solutions-based eCommerce partner will help you choose a payment processor with the following in mind: Integrated payments and checkout – a seamless flow between payments and checkout increase both conversion and payment completion rates   Better pricing and total cost of ownership – getting the best rates and forecasting for what’s ahead   A simplified experience – choosing a best-in-class provider so you go to market faster with confidence When comparing payment processors we recommend you ask the following questions of the vendors your evaluating: What’s your product offering? How many types of payment are accepted? Are you adopting a more modern platform or are they legacy? What is you geographic coverage? Do they have an interactional reach? Are you priced competitively? How transparent is you pricing structure? Are there membership, setup, or possible hidden fees? What software and hardware do I need? And how is it bundled? What is your approach to integration? Having asked these questions with our own partners, and consulted the research on the myriad of payment processors and merchant services in the marketplace, here’s a Who’s Who of payment processors with some of their signature strengths: PayPal Website: paypal.com A strong performer with a robust product offering including fraud detection, point of sale, alternative payment options (like Venmo and PayPal consumer accounts) and financing options such as BNPL (Buy Now Pay Later). PayPal is well-suited for both enterprise and small/midsize businesses. Additional wins: transparent pricing, ease of use, and dedicated customer support. Stripe Website: stripe.com Analyst-backed and built for larger operations, Stripe offers a broad product menu including card issuing and treasury services, and worldwide acceptance and settlement. Stripe is an exceptionally good fit for eCommerce-based businesses. They offer flat rate pricing and don’t charge monthly subscription fees. Additional wins: highly customizable, streamlined checkouts across devices. Adyen Website: adyen.com Aside from a solid product offering, Adyen presents a tech-forward approach with a wide international footprint. Additional wins: No setup or monthly fees, customizable solutions. Braintree Website: braintree.com Owned by PayPal, Braintree is known for its diverse payment options especially in the digital wallet category. It integrates well with eCommerce businesses, but also offers in-store payment capabilities. Cybersource Website: cybersource.com Owned by VISA, Cybersource’s product offering is uniquely backed by the gold standard of security. Square Website: squareup.com For a business looking for more out-of-the-box solutions, Square offers a straightforward point of sale system geared towards mobile devices. It’s especially compatible with restaurant, retail, and professional service environments. Square offers value-adds for additional fees such as customer loyalty programs and appointment scheduling. Stax Website: stax.com Designed for high volume mid to large sized businesses, Stax offers membership tiers and value add-ons by tier including accounting software integration and a customizable portal. Klarna Website: klarna.com Another BNPL solution, Klarna offers point-of-sale loans through an app or in-store experience. This option is useful for big ticket purchases where an initial down payment is made, and subsequent payments are drawn from a credit or debit card. Typically interest-free, late fees are assessed for failed payments. Buy Now Pay Later is an increasingly popular consumer financing option.   Ultimately, choose what's best for you Payments are a complex yet integral part of the eCommerce experience. Elastic Path can help you ask the right questions when determining what works best for your business needs and the expectations of your customers.
    Topics: pricing, businesses, processors, product, best, fees, payment, additional, payments, offers, business.
  • 9 Critical 2023 Trends in eCommerce Payments - 9 Critical 2023 Trends in eCommerce Payments Are you an eCommerce merchant looking to increase sales while streamlining the checkout process? If so, you need to stay on top of the current eCommerce payments trends. We've seen a big shift in how customers want to shop and pay for their purchases since the era of digital commerce came on the scene, and the landscape is only changing by the year. In the past, customers were limited to a small range of payment options, such as credit cards, for all their eCommerce payments. These days, however, buyers expect flexibility in a million different ways when it comes to paying online. In this blog, we’ll cover nine essential eCommerce payments trends for 2023 and explore how sellers can adopt or adapt their payment solutions to meet customer expectations and stay ahead of the curve.  1. E-Wallets Digital wallets, aka e-wallets, have become a popular trend for  payments both online and in-store - and they’re only getting more and more common. By the end of 2023, it's expected that over 4 billion people will use digital wallets for their purchases, with 30% of all POS payments happening via an e-wallet. Digital wallets like Apple Pay, Google Pay, and Shopify Pay make it easy to make purchases in-store and online. A lot of retailers are already on board with this trend, and it doesn't look like it's slowing down anytime soon. This makes e-wallets a critical piece of any merchant’s eCommerce payments option portfolio in order to keep up with and stay ahead of the competition. 2. Loyalty programs All great retailers recognize the importance of customer loyalty, and a great way to incentivize and build this is through loyalty programs. A loyalty program often involves offering discounts, points, or rewards in exchange for customers returning to that particular business over and over again. This can range from offering a percentage discount on future purchases to giving exclusive access to certain products or services not available elsewhere. Some businesses also offer a tiered system where bigger spenders get greater discounts. This offers further motivation to come back time and time again, creating a relationship of trust between customers and companies and building a tradition of strong sales from loyal returning clientele. 3. QR Codes QR codes were very popular back in 2010, but since then, their popularity has been on the decline - until the pandemic hit. Now they’re having a moment again! You see them everywhere these days, especially in the retail, events, and hospitality industries. For instance, in restaurants, you can scan a QR to check out the menu, place an order and even pay for your meal - no need to wait for a server. For both online and brick-and-mortar retailers, QR codes are popping up in use cases like scanning a code to get access to exclusive offers and other product lines or to get or give a referral discount.  These use cases and others make QR codes one of the critical eCommerce payments trends to look out for in 2023. 4. Cryptocurrency Cryptocurrency payments are changing the way consumers make online purchases. Paying with Bitcoin, Ethereum, or Litecoin is secure and fast: just a few clicks of the mouse and you're done.  Customers love the feeling of being “in the know” by paying with their favorite cryptocurrency, and true privacy enthusiasts appreciate the (relative) anonymity of not having to divulge all their personal information to merchants in order to make a purchase. In light of this, more and more merchants are starting to accept cryptocurrencies like Bitcoin as legitimate forms of payment. This means savvy retailers, both online and offline, would do well to look into doing the same in order to stay on-trend. Get hands on with an Elastic Path Free Trial Monetize your digital experiences and prepare for the future of retail with a Elastic Path free trial. Sign up for a free trial 5. Buy Now, Pay Later  Buy now, pay later is totally in right now in eCommerce payments trends. BNPL payment options give merchants the power to broaden their customer pool by drawing in larger basket values for low-value items and increasing purchases of high-value items that customers might otherwise shy away from. All in all, it's a convenient way to keep sales steady, even in tough economic times, with a relatively low cost to merchants.  Merchants who want to take advantage of buy now, pay later setups have lots of options, including EP Payments, which offers a best-in-class buy now, pay later program powered by Stripe. Retailers who want to stay abreast of consumer-favorite trends in 2023 would definitely do well to make this payment option a priority.  6. Payment Applications Payment apps are convenient options that more and more consumers are taking advantage of. For merchants offering these apps as a payment method, customers can enjoy a fast and simple checkout process using NFC, QR codes, or P2P networks.  Customers love the ease of use and touchless convenience of not having to whip out the plastic for every payment, and merchants appreciate the speed at which transactions take place.   Payment apps like Google Pay, Apple Pay, and Venmo are already staples in this corner of the eCommerce payments market, with new contenders consistently appearing on the horizon with a hot new feature or service.  Some payment apps even offer rewards for frequent users or bonus tracking tools, which help turn this eCommerce payment method into a bonafide customer acquisition and retention tool.  7.  Biometrics Biometric payments are becoming increasingly popular with consumers due to their extra level of security and convenience. Merchants who offer biometric options allow customers to use their fingerprint, facial recognition, or iris scans to authorize payments instead of passwords or PIN codes. This makes fraud a lot harder since biometric data is unique to each person, making it practically impossible for thieves to copy.  This kind of verification can help make customers leery of giving out their personal data online feel more secure and willing to part with their cash. This gives eCommerce merchants leverage to attract more customers in less time by offering a uniquely secure checkout experience. 8. Voice-Enabled Payments Voice commerce, a realm of commerce technology that includes voice-enabled payments, is becoming super popular for its ease and simplicity. This technology is exactly what it sounds like: merchants that provide voice-enabled payments give customers the option to input and confirm their payment info using only their voice.  This technology has the potential to revolutionize how people make payments in much the same way that voice-enabled tech like Siri and Alexa revolutionized personal productivity.  In fact, merchants can leverage voice assistants like Alexa to enable customers to make purchases and pay bills with just a few words.  Its modern-day convenience at its finest: voice-activated payments save customers time and hassle, which creates a frictionless checkout experience, leading to quicker sales and higher average order values.  9. Near-Field Communications Near-field communication (NFC) is a short-range wireless technology that merchants can use for pairing devices, exchanging data, and making payments. The technology is similar to Bluetooth but is more secure and faster. It’s currently in use by retailers for everything from quick contactless payments to easy device connections.  Not only is it great for quick payments, but merchants can use NFC to create customer loyalty and entice new buyers. NFC can be used to give points to loyal customers, hand out coupons for future purchases, or reward winners for giveaways and drawings in real time, adding an exciting extra layer of gamification to an eCommerce brand’s brick-and-mortar presence.  EP Payments: The eCommerce Payments Solution From Elastic Path Having cutting-edge and in-demand eCommerce payments options for your customers is a critical piece of a smooth buying experience. Giving consumers the option to pay their favorite way, both online and offline, differentiates good brands from great brands (and good revenue from great revenue), and the better your tools and technology, the easier it will be to achieve that “great brand” status.  If you're an eCommerce merchant looking to level up your payments game, EP Payments from Elastic Path might be just the eCommerce payments solution you’ve been looking for. Reach out to us today to find out more about how EP Payments can help you streamline your checkout process, enhance customer satisfaction, and build brand value along the way.
    Topics: online, trends, technology, ecommerce, critical, way, pay, payments, merchants, purchases, payment, customers.
  • - Rapid growth in ecommerce sales and digital adoption across the globe opens up a world of opportunity for businesses looking…
    Topics: gdp, ecommerce, trillion, stripe, customers, growth, payment, business, market, guide, businesses, expansion, global, step.
  • - How do you choose between Affirm vs Afterpay when selecting a BNPL provider? The demand for Buy Now, Pay Later (BNPL) opportunities has accelerated significantly in recent years, and this has led to an increase in the number of service… Continue reading Affirm vs Afterpay: Which BNPL Is Best?
    Topics: payment, fees, app, affirm, bnpl, youre, afterpay, best, credit, pay, payments, vs.
  • - Making the choice between Affirm vs Klarna can be a struggle. Both of these Buy Now, Pay Later services are extremely popular, thanks to their ease-of-use, convenient sign up, and the growing demand for flexible payment options. Currently, the global… Continue reading Affirm vs Klarna: Battle of the BNPL Services
    Topics: battle, payment, affirm, interest, services, bnpl, card, savings, youre, pay, credit, klarna, payments, vs.
  • Amazon Pay introduces Checkout v2 - Amazon Pay, which lets customers use their Amazon information to shop on third-party sites, has introduced version 2 of its checkout technology. The upgrade enables a faster and more secure checkout. The modernized web checkout technology can replace existing Amazon payment and address widgets.With Checkout v2, Amazon Pay offers merchants… Continue reading
    Topics: v2, amazon, introduces, customers, online, pay, ecommerce, process, experience, payment, checkout.
  • - Ecommerce giant Amazon has announced that it will make changes to its payout period. Sellers in the United Kingdom and Europe will have to wait until a week after the delivery of an item to receive their proceeds. The change will come into effect in phases in the upcoming month,…
    Topics: united, payment, paid, europe, payout, sellers, delivery, kingdom, advance, period, sales, amazon, changes.
  • Amazon fined €746 million for violating privacy rules - Amazon has been hit with a fine from the European Union. They will need to pay 746 million euros for processing personal data that’s in violation of the General Data Protection Regulation (GDPR). The tech giant is already planning to appeal against the decision. Amazon revealed the news in a… Continue reading
    Topics: protection, violating, amazon, million, data, strategy, whitepaper, eu, fined, personal, rules, payment, fine, banking, privacy.
  • Amazon is adding a Venmo checkout option next year - PayPal today announced that Amazon.com will be adding a Venmo option to checkout for users in the U.S., starting next year. The news arrived as the online payment giant announced solid third quarter results, with a 13% year-over-year revenue increase. Beginning at some point in 2022, Amazon shoppers will be able to link their accounts […]
    Topics: checkout, pay, users, currently, adding, using, statement, amazon, techcrunch, payment, customers, paypal, venmo, option.
  • Amazon reaches deal to continue accepting Visa payments worldwide - Amazon and Visa have resolved their simmering dispute over payment fees in the UK and elsewhere, Reuters has reported. Amazon threatened to stop accepting Visa in the UK starting January 19.
    Topics: techcrunch, continue, fees, card, recently, amazon, payments, worldwide, accepting, visa, uk, deal, spokesperson, payment, reaches, stores, cards.
  • - Amazon is convinced of the added value of the digital euro, which the European Central Bank (ECB) aims to introduce. The company has built a prototype for its application in ecommerce payments. The central bank for the eurozone is exploring the possibilities for a digital currency. It is intended to…
    Topics: european, amazon, bank, ecommerce, ecb, central, digital, payments, innovation, euro, payment, prototype, accelerates.
  • Announcing BigCommerce + Bolt One-Click Checkout - Consumer expectations aren’t what they used to be. The last two years have accelerated changes in what consumers expect to…
    Topics: checkout, network, experience, payment, ecommerce, ready, customers, oneclick, announcing, bigcommerce, bolt, merchants.
  • Apple announces ‘Tap to Pay’ feature that will allow iPhones to accept contactless payments - Apple has announced plans to introduce a new Tap to Pay feature for iPhone that turns the device into a contactless payment terminal. The company says that later this year, U.S. merchants will be able to accept Apple Pay and other contactless payments, including Google Pay, by using an iPhone and a partner-enabled iOS app. […]
    Topics: payment, iphones, app, techcrunch, platforms, allow, feature, tap, pay, contactless, announces, payments, apple, merchants, iphone, later.
  • Arrow saves online shopping carts in Southeast Asia - Even in markets where credit card penetration is high, shopping cart abandonment is still a major source of concern for online vendors. Now imagine the situation in Southeast Asia, where many countries have scores of e-wallets, buy now, pay later services and other forms of payment. Bank transfers are also popular option for online purchases, […]
    Topics: asia, major, arrow, online, abandonment, payment, checkout, merchants, saves, shopping, cart, liat, southeast, techcrunch, neo, carts.
  • Balance raises $25M in a Ribbit Capital-led Series A to grow its ‘consumer-like B2B checkout platform’ - Balance, a payments platform aimed at B2B merchants and marketplaces, has raised $25 million in a Series A funding round led by Ribbit Capital. Avid Ventures participated in the financing, in addition to existing backers Lightspeed Ventures, Stripe, Y Combinator Continuity Fund, SciFi VC and UpWest. Other individual investors that put money in the round […]
    Topics: raises, platform, grow, consumerlike, series, terms, payment, geron, merchants, b2b, balance, marketplaces, techcrunch, ribbit, capitalled, payments, company, checkout.
  • - BigCommerce (read our full BigCommerce review) serves as a way for legitimate businesses to make a fluid move to online selling. By legitimate, I mean that the majority of plans from BigCommerce provide extensive tools and product options for turning… Continue reading BigCommerce Pricing Plans (2023): How Much Are You Going to Pay With BigCommerce?
    Topics: bigcommerce, pay, youre, yes, pricing, plan, plans, going, payment, fees, need.
  • Briqpay raises 2 million euros - Briqpay, a Swedish company that offers solutions for B2B payments, has just closed a seed round of 2 million euros. The funding round was led by Swedish private equity firm eEquity. With the help of this money, Briqpay wants to become the leading B2B payment supplier. Almost a year ago,… Continue reading
    Topics: system, b2b, swedish, million, solutions, euros, round, briqpay, eequity, solution, raises, payment, ecommerce.
  • - Many British Amazon merchants are at a loss after the platform froze payments, leading to numerous questions and complaints from traders. Some of them claim to be in financial straits due to the situation.In many cases, sellers are unsure about the exact reasons behind the blockade and are clueless about…
    Topics: uk, despair, payment, business, traders, freeze, british, vat, seller, sellers, united, amazon, kingdom, tax.
  • - There are a host of different payment platforms that you can partner with to process payments for your digital business. However, finding the right one is often difficult, especially when you consider the variable rates and different features offered by… Continue reading Checkout.com Review (2022) – Fees, Solutions, and Features
    Topics: major, risk, solution, fees, platforms, different, support, payment, payments, store, solutions, features, checkoutcom.
  • - Coinbase Commerce is a merchant payment solution that helps online businesses accept cryptocurrency payments. The platform leverages blockchain technology in order to facilitate digital asset payments for its customers. Coinbase Commerce is available to an array of business sectors and… Continue reading Coinbase Commerce Review (Sep 2021): Everything You Need to Know
    Topics: sep, coinbase, review, payment, account, payments, customers, cryptocurrency, commerce, using, know, wallet, service, need.
  • - Educators and content creators looking to sell their courses online want a platform that effectively enables them to do this. This means finding software that comes with a generous range of features at a realistic price so that they can… Continue reading CreativeMindClass Review (Feb 2022): The New Course Builder on the Block
    Topics: payment, classes, review, creativemindclass, block, platform, course, feb, posts, courses, class, students, work, builder.
  • Crypto-Commerce: Banking on Blockchain for B2B Payments - Editor's Note: This post was originally published July 29th, 2019 and has been updated for relevancy After significant hype with the rise of cryptocurrencies, there was a ‘Blockchain winter.’ The predictions for rapid adoption by 2020 never materialized; however, the underlying technology, Blockchain, still holds promise, especially in the B2B payments space. B2B payments have seen consistent growth for several years (40% in the US from 2014-2020). This trend is expected to continue with a CAGR of 21% from 2021-2030. With 88% of businesses believing that API technologies will affect payments the most over the next few years and 65% of companies preferring a single or integrated payments solution, the momentum could soon turn into a ‘Blockchain Spring.’ How Blockchain for B2B Payments Works Blockchain’s foundation is distributed ledger technology  (DLT). Transactions are  distributed, with records verified by a network of computers versus by one party or bank, and visible to all parties versus held in a central database. They’re also  immutable  as once recorded, they cannot be altered, reversed, or tampered with. When a buyer or seller submits payment information to the chain, a digital “block” is created and distributed to the network. Multiple computers compete to unscramble the block, and the first to successfully do so shares it with the network for verification. Verification includes confirming funds are available, sender and receiver are reputable, and the request is legitimate. Once verified, the transaction is authorized and posted to the ledger and designated parties are updated in real time. Blockchain Benefits for B2B Payments Faster Settlement Blockchain cuts central banks out of the process, dramatically speeding up settlement. Unlike banks, which can take up to five business days for cross-border transactions, the 24/7 availability of the network supports real-time to next-day fund transfer. Blockchain’s transparency and automation also save both suppliers and buyers the manual processes of phoning or emailing each other and updating their respective records in multiple systems. Frictionless Payments The ability to place one-touch orders directly from equipment and sensors on the job site, within a manufacturing plant or even operating room is an emerging opportunity in B2B. The “smart contract” property of blockchain supports automated device-to-device transactions when certain conditions are met, cutting out traditional invoicing and payment processes entirely. Integrated with payment networks and headless commerce applications, smart contracts and IoT may be the  future of replenishment  and other micro-transactions between B2B buyers and sellers. Pricing and payment terms are set into the smart contract, with buyer and seller notified of each transaction upon execution and pushed back to their respective systems of record. Looking for a B2B eCommerce Solution? Elastic Path is Transforming B2B Commerce Experiences Quickly & Efficiently While Driving Substantial Revenue Growth. Chat with an expert today to see how our flexible, composable solutions can speed up your time to market, reduce costs, and improve your customer experience. Talk with an eCommerce Expert Proactive Fraud Prevention The public, distributed ledger serves as a “single source of truth” for both buyers and suppliers. While blockchain may not eliminate the need for outside verification agencies reduces settlement risk and makes it easier to track down fraudulent activities. Prevent “False Positives” For AR and AP departments, tighter fraud controls can lead to more false positives, increasing card declines for good accounts, delays in invoice processing, and can hurt the buyer-supplier relationship. Blockchain’s network-based verification and immutable record recognizes more good transactions and fosters trust between parties. How Institutions are Already Banking on Blockchain Stablecoins A Stablecoin is a digital currency pegged to a ‘stable’ reserve asset, like the U.S. dollar. These remove the significant volatility seen in more well-known cryptocurrencies like Bitcoin and Ethereum, which are tied to being ‘mined’ by computers. Stablecoins assuage some of the concerns over cryptocurrencies for business, though significant questions remain. Legislation remains one of the unanswered questions that will significantly impact the future of these coins. Momentum continues to build towards answering these questions. As recently as December 2021, the U.S. Congress considered the regulatory path forward. Open APIs Visa, MasterCard and Amex are in an arms race to patent and ship new blockchain payment technologies. Their open APIs such as Visa’s B2B Connect allow fintechs and other financial institutions to build custom solutions and payment integrations on top of their respective blockchain infrastructure, including smart contracts and expedited payment settlement to enhance their B2B services. The B2B Blockchain Challenge...and the Future While banks and fintech companies are wasting no time embracing Blockchain, the challenge for B2B merchants remains to be the on and off-ramps (how they can turn good old dollars into digital coins with ease and low risk). Several fintech and ACH companies are attempting to solve these issues with B2B specific offerings. We can expect that, as the blockchain market matures, banks and fintech companies will continue to open their infrastructure and APIs to third-party developers, including B2B merchants. Technology vendors may also begin to integrate blockchain technologies into their commerce solutions. Stripe, for instance, says it is still in “Early Innings,” there is no doubt the “winter” is thawing, and we will continue to watch as this space evolves.
    Topics: distributed, companies, cryptocommerce, banking, transactions, blockchain, b2b, verification, payment, payments, network, smart.
  • Ecommerce Product Releases: September 16, 2021 - Here is a list of product releases and updates for mid-September from companies that offer services to online merchants. There are updates on team productivity tools, small business financing, subscription sales, logistics, and managing campaigns on Amazon.
    Topics: platform, merchants, announced, square, services, companies, ecommerce, payment, product, releases, commerce, partnership.
  • Egypt’s e-commerce platform Wasla nabs $9 million from retail finance provider Contact - Contact Financial Holding, Egypt’s non-bank consumer finance provider, has invested $9 million in the country’s e-commerce super-app Wasla, setting the stage for the rollout of new online shopping capabilities, products and regional expansion. Contact has been in the business of consumer finance since 2001, while Wasla was founded in 2018 by Serag Meneassy and Taymour […]
    Topics: million, finance, introduce, provider, payment, wasla, techcrunch, set, ecommerce, financing, including, retail, nabs, experience, platform, egypts, business.
  • - EverCommerce is a relatively unheard-of concept in the ecommerce marketplace at this point – but it’s quickly generating attention. Designed to be the leading service commerce platform, Evercommerce promises business leaders a vertically tailored set of integrated SaaS solutions supporting… Continue reading Evercommerce Review 2023: All the Pros and Cons You Need to Know
    Topics: cons, tools, solutions, pros, marketing, need, evercommerce, companies, billing, management, payment, know, review, service, solution.
  • Everything You Need to Know About Buy Now, Pay Later - The yearly increase in demand for online shopping has meant alternate payment methods like buy now, pay later(BNPL) has continued to gain momentum. Accelerated by the COVID pandemic, the adoption & use  is more widespread than ever, delivering tangible business benefits to vendors and shoppers. These deferred payment types allow customers to keep shopping as they normally would during uncertain economic times or facilitate making larger purchases that they might not otherwise be able to afford by paying them off over time.  In this post, we'll explore what buy now, pay later is, how it works, and why you (and your customers) might want to take advantage of its benefits. What Is Buy Now, Pay Later? (BNPL) Buy now, pay later payment options are a form of installment loan. With this payment type, a shopper's purchase is broken up into equal installments, the first of which is due at the time of sale. The rest of the amount is then charged to their debit or credit card at a set rate, such as every two weeks or every month until the total amount is paid. These buy now, pay later plans allow shoppers to receive their purchase immediately while splitting the cost into installment payments rather than paying all at once. This can be a huge help to buyers struggling to make ends meet in a down economy or to consumers who are eager to make a large purchase but don’t have all the funds they need at the moment. However, while the trend to buy first and pay over time with deferred payments, like BNPL arrangements, is definitely growing, it's important to consider how this payment setup will affect your cash flow and point-of-sale operations overall.  Next up, we’ll dive deeper into how buy now, pay later works, and what types of BNPL programs are available.  How Does Buy Now, Pay Later Work? Certain providers may offer plans that come without any interest or fees, while some plans may include both. Many buy now, pay later companies only need a soft credit inquiry to approve a purchase, which doesn't have a negative effect on a customer's credit rating and can make the process of using BNPL less intimidating. On the other hand, some require a hard pull of a consumer's credit report, which can result in a slight, temporary credit score dip and may make a customer think twice about buying their items.  Buy Now, Pay Later Pros And Cons Buy now, pay later payment methods have a lot to offer to both consumers and merchants, but it's not all sunshine and rainbows. While cash-strapped shoppers can still make purchases in lean times, offering BNPL options can be costly to merchants. Many popular BNPL companies charge fees ranging from 2-6%, on top of other existing costs such as credit card processing fees. Over time, these costs can really add up and cause merchants to doubt whether offering a buy now, pay later program is really the best option.  Below, we'll examine not only these considerations but a full range of pros and cons of starting or continuing a buy now, pay later program.  Pros of Buy Now, Pay Later Fast Rollout and Easy Approval: Buy now, pay later programs are relatively easy to set up and can be implemented quickly, both for brick-and-mortar locations and eCommerce stores. Merchant approval is also usually fast, so you won't have to wade through endless paperwork or invasive info-gathering from your service provider.   Boosted Sales: This can be a great way to increase sales figures by allowing people to buy things they otherwise may not be able to afford. Having these options available is particularly useful when the economy isn't doing so well, and people tend to go for payment deferment or credit deals.   Higher Purchase Amounts: Consumers are more likely to buy more when they can pay in installments, as opposed to paying the full amount upfront. This can be a great way to increase your average order value and boost sales overall.    Interest-Free Options: If a shopper takes advantage of the interest-free options offered by some buy now, pay later providers and pays off their balance on time, buy now, pay later can actually put them ahead financially by helping them save money when they need it while avoiding extra fees by paying it off on time.  This creates goodwill between you and your buyers, making it more likely that they'll visit again, buy more, and potentially even use your buy now, pay later program again.    Convenient and Easy to Set Up: We all love the convenience of apps, and thankfully, many buy now, pay later providers have built-in apps to help customers find deals and manage their payments. The fact that they don't require separate applications or additional processing times makes them almost as easy to use as entering a credit card number. This simplicity makes it a no-brainer for many consumers to take advantage of BNPL offers, creating more opportunities for them to shop with your brand.   Cons of Buy Now, Pay Later Higher Payment Processing Costs: As mentioned earlier, BNPL programs are associated with higher costs to merchants, typically between 2-6% of the purchase value in addition to standard credit card processing fees. These additional costs can eat into profit margins and water down the benefits of higher sales and overall larger purchases that buy now, pay later options can create.    Risk of Default: Buy now, pay later programs are essentially loans that customers take out, and even the most well-intentioned consumers can sometimes default. This can end with the merchant being left "holding the bag" for a customer that now can't afford to pay them back for the purchases they made.    Late Fees: If customers forget to make a payment or don't have sufficient funds in their linked bank account, they're likely to run up against a late fee. While these tend to be reasonable flat-rate fees similar to those charged by credit card companies, they can add up over time and create a feeling of "buyer's remorse" for your customers.   High Interest Rates: BNPL apps sometimes come with interest-free agreements, but only for a limited time. Other apps charge interest regardless. In either case, if a buy now, pay later provider charges interest, either with or without an interest-free period, those interest rates have a tendency to be even higher than credit card interest rates, which can make it harder for consumers to pay off their purchase and actually make them less likely to do so over time.  Want to learn more about Composable Commerce Essentials? Explore Composable Commerce here Types of Buy Now, Pay Later Loans Overall, there are two types of BNPL loan types: loans with interest and loans without. Let's take a look at how they both work and which one is likely to be a better deal for merchants or their customers. Loans With Interest These in-the-moment loans give the consumer the opportunity to make their purchase right away, with interest rates comparable to those of a credit card. These providers will sometimes offer interest-free periods similar to promotional rates on new credit cards in order to entice new buyers to "take the plunge." Interest-Free Loans While these types of loans might seem too good to be true for a consumer, they're the opposite for a merchant. With these types of loans, the merchant pays a fee to the third-party lending company rather than the consumer paying interest on the loan, essentially paying for the privilege of giving their customers the option to use a buy now, pay later service. Generally, both buy now, pay later loan types will have a fixed repayment timeline. For example, if a customer is interested in an item that comes with a no-interest four-part installment plan on a $1,000 purchase price, they'll pay $250 a month for four months, starting at the time of sale. These timelines usually have fees and deferred interest charges attached to them if a customer is late for or misses a payment, creating incentives for consumers to make their allotted payments on time and in full.  Differences Between Third-Party and Credit Card BNPL Offers The form of buy now, pay later offered by credit card companies works a little differently than third-party point-of-sale financing, such as through an app. For one thing, BNPL offers are typically only available at the time of purchase but can show up as an available option on qualifying purchases on a consumer's statement. These plans can also carry a monthly payment fee in addition to the monthly installment amount, and some also charge interest in addition, which can make them more costly to consumers than using a credit card.   For merchants, too, the differences usually come down to costs, such as the dual costs of processing both a credit card and a buy now, pay later option for a consumer versus the costs of credit card processing alone.  6 Buy Now, Pay Later Examples While there are dozens of buy now, pay later options available for merchants, there are a few that hold a larger market share or are more widely used than the rest.  Let’s take a look at five of the largest and most trusted BNPL providers from around the world.  1. PayPal PayPal might be more well-known as a secure online payment system or person-to-person cash transfer app, but it's also a BNPL lender.  Its star lending product is called Pay in 4, which gives consumers the option to split the cost of a purchase into four scheduled payments without interest. This service is only available if the purchase is between $30 and $1,500 (compare this to services like Affirm can loan up to $17,500). Its interest rate stands at 24%, putting it in about the middle of the pack for comparison-shopping consumers.  2. Klarna Established in Sweden in 2005, Klarna now boasts a customer base of over 85 million and collaborates with hundreds of thousands of retailers worldwide.  Depending on the borrowing type, Klarna may run a soft or hard credit check on potential customers. Interestingly, instead of setting strict borrowing limits, however, Klarna employs a metric known as Purchase Power. Its website describes it as "an estimated amount based on factors such as your payment history and outstanding balance with Klarna."  Those with good credit and a good payment record could be eligible for larger loans from Klarna than from other BNPL vendors. The maximum interest rate, if applicable, is 25%. 3. Affirm Affirm is one of the most popular buy now, pay later vendors, and can be found as an option to pay at big-name brands like Amazon and Target.  For shorter-term loans (such as four payments with a two-week gap in between each), consumers have no interest or fees to pay with Affirm. Longer-term loans might have interest rates from 10 to 30% APR, based on credit score, but still no fees.  4. Afterpay Afterpay originated in Australia but is now owned by Block, formerly known as Square. It's even bigger than Affirm, securing partnerships with over 100,000 retailers.  One of its most noteworthy functions is its smart credit limit tool, which establishes a personal spending ceiling for purchasers based on their credit background, which can help consumers to stay within their means and avoid buyer's remorse later on. It also sends out reminders for people to make their payments, and its virtual card service is easy to use.  Unlike Affirm, Afterpay has late fees. Consumers who make on-time payments can avoid them. Interest rates are the same as Affirm, within the 10% to 30% range. 5. Shop Pay Installments Shopify has its own BNPL system known as Shop Pay Installments, made possible by a partnership with Affirm. When business owners use Shopify for their online store, their customers can purchase items in four interest-free payments, and the seller still receives the full amount up front.  This buy now, pay later system also allows small businesses to benefit from the same advantages that bigger retailers enjoy - like a larger average order cost and fewer abandoned carts.  6. Stripe Stripe also offers BNPL for retailers selling high value products for conversion boosting and retailers selling low value products that want to increase cart size and their customer pool. Stripe supports Affirm, Afterpay/Clearpay, and Klarna with repayment options of 3 or 4 interest-free installments. How to Get Started With Buy Now, Pay Later Buy now, pay later services are becoming increasingly popular as a way to make online shopping more convenient and affordable. With these payment options, shoppers can purchase items in the moment and pay for them later in smaller installments, making it easier than ever for customers to manage their finances while maintaining their standard of living.  If you're a business that wants to jump on the BNPL bandwagon and take advantage of this growing trend, EP Payments, powered by Stripe, from Elastic Path might be just the solution you need. Just get in touch with one of our experts today to find out more about how EP payments can help you increase sales and average transaction value while also building customer goodwill and loyalty.   
    Topics: interest, payment, card, know, pay, bnpl, buy, need, later, consumers, purchase, credit.
  • - Shopify is the leading ecommerce platform in the world. Period. Near-on, every online merchant has heard of it, and thousands upon thousands of stores have built their success based on its feature-rich software.  Part of why Shopify is so popular… Continue reading Everything You Need to Know About Shopify Plus Pricing
    Topics: plus, enterprise, shopify, payment, know, need, plan, pricing, stores, access, shopifys.
  • Ex-Chime engineers raise $4M for B2B payments infrastructure startup Streamlined - While working as the head of treasury at Braintree, Boris de Souza once discovered a $90 million payment that went “missing” for over two weeks because of poor payments infrastructure. “It was my first week on the job, and I received an email from a client saying ‘I think you shorted us $90 million,’” he […]
    Topics: techcrunch, engineers, million, ecommerce, businesses, infrastructure, startup, raise, 4m, payment, souza, b2b, business, exchime, streamlined, payments, ach.
  • Expand Payment Options to Convert More - Essential features for many online stores in 2022 include enhanced chatbots, virtual product sampling, and real-time order tracking. But what happens once shoppers reach the checkout page is equally important. Plenty of issues — such as limited payment options — can interrupt the process.
    Topics: payment, payments, convert, stores, expand, consumers, shoppers, order, merchants, pay, options, mobile.
  • Founded by ex-Braintree and PayPal execs, Pagos raises $10M to offer API-driven payment intelligence - Pagos, a payment intelligence infrastructure startup founded by former Braintree and PayPal execs, has raised $10 million in seed funding. Started earlier this year, the remote-first Pagos is building a data “platform” and API-driven micro-services that it says can integrate with any payment stack. The end goal is to drive better performance and “optimization” of […]
    Topics: techcrunch, pagos, raises, founded, execs, payments, payment, customers, paypal, intelligence, team, companies, offer, bäck, services, data, exbraintree.
  • Four New Countries and Launch of Multi-Currency for WooCommerce Payments - Our native payment solution, WooCommerce Payments, is available in four more European countries! If you’re a merchant in Spain, France, Germany, or Italy, you can now benefit from a secure and fully integrated solution that supports new local payment methods. In this latest iteration of WooCommerce Payments, we’ve also introduced Multi-Currency. You now have the […]
    Topics: know, local, store, available, customers, solution, woocommerce, countries, multicurrency, launch, payment, payments.
  • Here’s Why PayPal Should Acquire Pinterest - PayPal has denied published reports that it is interested in acquiring Pinterest. Nonetheless, if consummated, the transaction might be the first of many similar acquisitions as platforms seek vertical integration. In this post, I'll address why it makes sense for PayPal to buy Pinterest.
    Topics: integrated, seek, paypal, pinterest, creators, pay, processing, payment, industry, acquire, heres, vertical.
  • How much do Latinos use social media to sell? - For Mexicans, Brazilians, Argentines and Colombians that the merchant is not a scammer is one of the biggest concerns when buying through social networks.
    Topics: colombia, argentina, latinos, media, security, payment, brazil, mexico, commerce, social, networks, sell, channel.
  • How to Accept Payments Online for Free [7 Top Payment Providers] - If your ecommerce business isn't offering your customers multiple ways to make payments online, you're leaving money on the table. While there's no way to escape some transaction fees and currency fees, there are ways to reduce payment processing costs and receive payments online for free.
    Topics: providers, processing, payment, accept, free, online, mobile, customers, website, payments, pay, credit.
  • - Accepting a payment online is easier than ever before. Whether you’re a retail shop with a simple website, or a startup ecommerce store interested in accepting online transactions, there’s always room to expand your business with help from online payment… Continue reading How to Accept Payments Online in 2023
    Topics: accept, customer, online, payment, credit, payments, processors, processing, processor, card.
  • - Once upon a time, visiting a Shopify store—or any ecommerce outlet—meant that customers had to drag out their wallets. It was a cumbersome process. Browse an online store, pull out the credit card, enter in 16 digits into the payment… Continue reading How to Add Apple Pay to Shopify
    Topics: security, add, shopify, youre, using, customers, apple, payment, store, know, pay.
  • How to Collaborate with Brands as a Content Creator [Expert Tips] - Welcome to The Creative, a series that gives content creators actionable advice from professionals in the creator economy. Whether you're a seasoned creator or just starting out, read The Creative to learn how to grow your platform, improve your content, and stay ahead in the ever-shifting creator landscape.  As a content creator, I've found the most common question other creators in my circle ask is, "How do I collaborate with brands?" And it makes sense that it's top of mind for so many creatives since brand deals are among the primary sources of income for podcasters, influencers, YouTubers, streamers, and more.
    Topics: scott, creators, podcast, brands, collaborate, expert, payment, brand, work, content, know, tips, creator.
  • How to Select the Right Payment Gateway and Payment Processor for Your Ecommerce Business - With more than one in five retail dollars now spent online, identifying the right payment processor and payment gateway is a "make or break" decision.
    Topics: select, provider, customers, gateway, making, credit, business, shopping, payment, right, processor, online, card, ecommerce.
  • How to Sell CBD Online - The CBD market is booming, and the growth of eCommerce will only amplify it. Now is the time to build and launch a CBD online store. Learn how to build your website and get the top tips for boosting your CBD sales. Why you Should Look to Start a CBD Online Store? 1. The CBD Market is Growing CBD is a budding business.The cannabidiol (CBD) market is booming but starting this post with a pun was unavoidable. In a report released from the Brightfield Group, a company specializing in predictive consumer and market intelligence for the CBD and cannabis industries, they noted CBD sales are expected to reach $20 billion by 2022, with a compound annual growth rate of 147%. While forecasts aren’t set in stone, historical numbers can’t lie. Ninety-seven percent of cannabis users primarily took CBD for chronic pain relief, while 50% of 100 respondents said they used CBD to reduce stress or anxiety. Looking at the same CBD usage statistics, 45% stated they took CBD to improve a sleep disorder, most commonly insomnia. Numbers aside, it’s hard to miss the explosive growth and use of CBD products. People of all ages, backgrounds, and lifestyles seem to be avid consumers and it feels like almost everyone has experimented with various forms of CBD for one reason or another. It is truly becoming a mainstream component of today’s culture, which means there is a huge market opportunity for business owners. Whether you’re already in the CBD business, or looking to break in, now is the time to launch your online store. For those with brick-and-mortar shops who might be wondering whether to expand, you honestly don’t have a choice. Taking an omni-channel approach to your CBD business will be the key driver behind continued success and growth, because if you don’t, your competitors will. 2. ECommerce in General is Exploding In the United States, sales of CBD in the e-commerce channel are forecast to increase from approximately two billion U.S. dollars in 2021 to more than six billion U.S. dollars by 2026. The new shopping mindset of the consumer is pushing more companies than ever to turn their sights to the internet, and you don’t want to get left behind. 3. The Constraints around CBD Have Loosened The passing of the 2018 Farm Bill federally legalized the production and sale of industrial hemp in the U.S., the plant where CBD derives. Legislation helped facilitate explosive growth in CBD products by reclassifying CBD and disassociating the compound from its cousin, THC, giving growers and businesses the ability to legally manufacture, sell, and ship hemp-derived products. This in turn gave consumers easier access to CBD, and as we know today, convenience in shopping is everything. Positive public perception surrounding weed in general is on the rise with legislators on both sides of the aisle looking to support the full legalization of cannabis. More than two in three Americans (68%) support legalizing marijuana, maintaining the record high level, according to a Gallup poll. The same research shows Democrats (83%) in support of full legalization, with Independents coming in at 71%, and Republicans on the fence at 50% supporting full legalization. 4. Consumer Demand is High From recreational use to treating everyday anxiety and stress, or even alleviating the symptoms of more serious medical conditions like Parkinson’s or PTSD, the reasons for consuming CBD are expanding, and just as with any product, consumers like having options. You can find CBD coffee shops as well as established spas offering CBD massages. Companies even sell CBD pet products. From CBD oil to gummies, chocolates, creams, supplements, vapes, or even chap stick and nasal spray, manufacturers and distributors are getting more creative with what products they’re infusing with CBD. The Bottom Line is Consumers Want CBD. The Demand is There. Nine million people started using CBD for the first time due to the pandemic; on average Americans spend an average of $20–$80 per month on CBD. One in three American adults have used CBD oil, and over 66% of the population is familiar with the product. Moreover, about 40% are using it for chronic pain relief. What does the average CBD oil user look like? 20% of U.S. adults aged 18-29 personally use CBD products, with the percentages decreasing as the age groups progress. An expanded customer base means more potential sales and opportunities for your CBD business, but it also means you need to find and define your ideal customer and product. The first step, however, is making sure your business is legal. Ensuring you Sell CBD Online Legally The answer to the question, “is it legal to sell CBD online?” is yes and no. If you’re looking to expand your existing company or are interested in starting an online CBD business, I’m sure we don’t have to tell you this, but we’ll restate it anyways – selling CBD oil or other products, online or in-store, is not the same as selling marijuana. They are different; marijuana is in fact still federally classified as a Schedule I narcotic by the Drug Enforcement Agency (DEA). A Quick Overview: CBD vs. THC Without getting into the weeds, the high-level differentiation between the two is that the compound CBD is typically extracted from the hemp plant, while tetrahydrocannabinol (THC), is extracted from the cannabis plant. CBD contains minimal to no traces of THC and is non-psychoactive, so it does not affect the brain the same way that THC does (also, if you caught that last pun, I promise there are only one or two more). While federally legal, CBD is still highly regulated both nationally and at the state level. The Farm Bill shifted oversight from the DEA to the Food and Drug Administration (FDA), which means there is a whole array of testing that needs to be done and labeling regulations that must be meticulously followed. States also have the final say as to whether it’s legal to buy, possess, manufacture, or sell CBD products within their borders. Using hemp-based CBD for recreational or medicinal purposes remains illegal in in Idaho and Nebraska. Do’s and Don’ts of Selling CBD Know your state-by-state laws. CBD sellers and buyers should know where CBD is legal. This is a two-way street. As a business owner however, you need to ensure that your online CBD store is built to handle the varying regulations. To legally sell CBD, all products must be within the THC limit of 0.3%. You need to be 100% positive the products you're selling, or if you’re manufacturing and providing wholesale options, that your CBD products follow this guideline and don’t surpass the legal limit. Do not make health claims. The FDA has issued warning letters against making health claims. While both marijuana and CBD have documented health benefits, there is only one FDA-approved drug that contains CBD at the moment, the epilepsy medication Epidiolex.  Some states have legalized medical marijuana and the grip on CBD is loosening, so the opportunities for researching cannabis and running studies to understand marijuana and CBD benefits are expanding. Until it’s been thoroughly vetted however, it’s best to steer clear of making health claims. Finally, your products must be labeled correctly. Your label has to say CBD (among other things). This is essential for you to not only ensure your FDA compliant, but for shipping carriers to acknowledge and mail your products. Finding a CBD distributor whose products comply with FDA regulations is vital, and just like your customers would expect to trust you as a business, you need to know you can trust your source. There are many components to a CBD business, and your distributor is just one piece of the puzzle. Starting a CBD Online Business So you’ve decided to dive in. You’ve researched how to sell CBD oil (or other CBD products), sculpted a business plan, and are now ready to build and launch your brand. There are several pieces you need in place to start selling and making revenue. 1. Finding a Reputable CBD Supplier If you already own a CBD shop, you can skip ahead to part 2. If you’re just getting started and are looking at reselling CBD products that have already been manufactured or are interested in creating your own, you need a high-quality CBD supplier. There are a number in the market today, both U.S.-based and international that you can choose from. Many wholesalers in the U.S. have been sourcing their CBD from Europe, where farmers have had years more experience in growing hemp, so sourcing from abroad is an option. With the 2018 Farm Bill in place, I would expect the national options to be on the rise. Regardless, there are two key documents you’ll want to make sure any distributor has - the cGMP and COA. Certificate of Analysis (COA). Make this mandatory and make sure you know how to read a COA report. It is essential for you to vet the quality of the products or CBD extract you’re purchasing and ensure you’re running a legal business. The COA is a report that provides the test results and analytics (usually run by a separate 3rd party lab), of the supplier’s CBD goods. It will confirm what plant species the CBD was extracted from, the levels of CBD and THC, and verify you’re within your legal 0.3% limit. The COA will also give you a detailed analysis and the percentage breakdown of the other components that might be found in the CBD, including heavy metals, pesticides used on the plant (sample below), and terpenes, an aromatic oil that is secreted from the plants (it’s what gives off that skunky or sweet smell). If you’re ever in doubt, you can always get a test run yourself. Neither you nor your customers should be surprised by what’s in your products and you don’t want to be responsible for health risks. Source: AZWholeistic.com Current Goods Manufacturing Practice (cGMP). GMP is set of rules and regulations set forth by administrations, like the FDA, to ensure that products are safe for human consumption by outlining standards for how they’re manufactured, cleaned, packaged, and handed. Manufacturing facilities that meet these standards will be given a certificate, which is a good indicator for you that their practices conform to FDA and individual state guidelines. 2. Building and Launching CBD Websites Your online store will be your most powerful tool for driving revenue, so you’re going to want to make sure it’s aesthetically pleasing and user-friendly. Ecommerce platforms come in many shapes and offer a myriad of capabilities and features. There is no one-size-fits-all solution. You’ll want to pick one that meets your business requirements. Option 1: Pre-Built Templates If you find yourself short of a web developer and need a solution that provides front-end themes, store templates, and other UI components out-of-the-box, companies like Shopify and BigCommerce might be a good choice. Platforms like these will also include other business critical features like shopping carts, but often provide flexibility when it comes to customizing. Option 2: Custom Stores If you want to provide a unique shopping experience tailored to your brand and consumer and have decided to go with a custom front-end, you will need an ecommerce solution that provides core services and features like shopping carts, checkout processes, and catalogue management. These pieces will have to tie seamlessly into your website and companies like Elastic Path or Commerce Tools will offer the type of solutions you’ll need. Either way, an attractive website with easy-to-understand navigation and fast loading times will make your users’ journey convenient and frictionless, the key to a higher conversion for you. Due to the nature of the CBD and marijuana industry, insurance companies, merchant account providers, and payment processors consider CBD businesses ‘high-risk.’ Many won’t take you on as a customer. Payment gateways and payment processors are no different, but there are a number that specialize in helping high-risk CDB businesses such as Payment Cloud or Easy Pay Direct. Make sure that whichever provider you choose, you can seamlessly integrate it with your full eCommerce platform or cart and checkout process. Without the ability to accept credit cards and process payments, an online store is pointless. A note on cannabis-focused cryptocurrency You can accept payment types outside of the typical credit card payment. For example, CBD companies like BlueBird Botanicals accept cryptocurrency on their website. Accepting and processing cryptocurrency payments gives you a broader array of payment pathways you can give your customers, many of whom may be trading cryptocurrencies. From household names like BitCoin, to industry specific options like HempCoin, there are a number you can look at. There is some concern that cryptocurrency will fail soon and that this link between industries will flop by association. However, it hasn’t yet and there seem to be close cultural ties between Cryptocurrency providers and CBD supporters, which is why many speculate the two industries have looked to each other for support. 4. Shipping Carriers With CBD being federally legal, you won’t face a lot of restrictions here, if you make sure you follow the guidelines of whoever you decide on using. The United States Postal Service has guidelines on shipping hemp-based products. UPS will carry your CBD products, just make sure you’re keeping tabs on what’s required. Top Challenges with Selling CBD Online & Suggested Solutions Everything we’ve discussed so far is just the tip of the iceberg. Once you’ve guaranteed your CBD products are legal, built your website, and found funding, the real eCommerce challenges begin. 1. Banking and Payment Processing  We just walked through a short overview of why these are important but finding a payment processor and merchant account for your company is probably one of the most frustrating parts of bringing your CBD business plan to life. Providers that specialize in helping ‘high-risk’ merchants usually have higher processing fees, more restrictions, and will give you less time to solve chargeback issues. If you’re only selling CBD products online, you’ll have to choose a 3rd-party provider that will process payments for CBD goods out of the gate. If you sell other goods and have decided to expand your product catalogue to include CBD, you already have these systems and providers in place. This means you may need more than one, and your back-end website logic will have to treat CBD products differently. You’ll have to handle any payment restrictions or limitations at the product-level. This will add a lot of complexity to your site architecture and will require a higher degree of customization in the back end. Resources for Finding online CBD Payment Processors or a Merchant Account for CBD The Best CBD Merchant Account Providers CBD Payment Gateways 2. Risk of Losing Access to your 3-party Providers You’re at the mercy of whichever merchant account provider, eCommerce solution, or payment gateway you choose. It’s not unheard of for these companies to update their acceptable use policies on a whim and add new limitations to what their platforms can be used for. With CBD still a gray area legally, you’re pretty much always at risk of losing access. Tip for Reducing Risk: Build a website that decouples your front end, or what the customer sees, from the back end and take a component-based approach to building your eCommerce experience. This is a technical tip but taking these steps will give you the flexibility you need to switch vendors quickly if needed and will give you complete control over your website.  What we mean by this is, don’t lock yourself into a single vendor that offers everything ‘out-of-the-box’ with a particular list of integrations they suggest using. Giving yourself options and flexibility will reduce the risk of you losing the ability to keep your business running. 3. Tying State Regulations into your Cart and Checkout Process If you’re selling a mix of products that aren’t just CBD-based, you need to make sure your online store can implement product-based shipping rules that will guarantee you stay within safe shipping zones depending on what’s in your customer’s cart. Different taxes may also apply to different goods and depending on the state, so your shopping cart will need to be able to access the right data and apply it accordingly. 4. Competition and Differentiating your Business Earlier in this post, we talked a lot about the extensive market opportunity that CBD provides business owners and how the rise of ecommerce is geared up to support the continued growth of the industry. Unfortunately, with opportunity like this, comes great competition. The ‘green-rush’ is very real. Everyone, from your next-door neighbor to your local coffee shop, gas station, and even multi-national organizations are looking to take advantage of this increase in market demand. Many pharmacies and retailers now carry CBD products. The good news is, it’s still not a reality to sell CBD products on major platforms like Amazon and eBay. Tips for Beating the Competition: This is why it’s vital you build a trustworthy brand that consumers will love and follow. This starts with you providing a custom, customer-centric online experience. It’s like that saying where you have seven seconds to make a first impression. In this case, your website will have to do that for you. 5. Marketing CBD: Advertising and Promotions Anyone’s initial thoughts on how to build awareness and beat the competition would be jump on the online advertising bandwagon. Sorry again, but you’ll face huge limitations here as well. Google and Facebook Ads will not run CBD ads. This means you can’t leverage some of today’s biggest consumer platforms to market your products, like Instagram, in the same way other retailers can. This is a key reason you see brands vying for the attention and support of influencers, which, is a great tactic to explore. However, short of getting the Patriots’ tight end Rob Gronkowski to partner with you and publicly back your business and product, you’ll have to get a little more creative in how you advertise your business. Tips for Advertising your CBD Business Focus on increasing website traffic with an SEO strategy and blog posts. We can’t state this enough, but your website is really the heart of your business. Build and implement a solid SEO strategy around CBD keywords and your products. Start a blog and publish regular, educational, and informational content. The goal here is to establish yourself and your business as an industry leader, or at the very least, as a knowledgeable and trustworthy brand. Blogs are also a powerful tool to connect to other 3rd party CBD companies or industry publications. Offering to link to them in exchange for a mention on their site will increase your backlinks and make you more favorable in Google’s eyes.   Leverage industry publications. Speaking of publications, there are several marijuana and CBD magazines and sites with both print and digital editions, all of which offer advertising in one form or another and have Facebook and twitter followers in the thousands. Take a look at some of our favorites: Cannabis Culture Magazine Marijuana Business Daily Leafly’s Blog Emails. Seems basic but drive site visitors and blog readers to subscribe or leave their email so you can continue to send them information. Tradeshows. This is huge. Due to limitations surrounding online advertising, you may want to place a higher priority on making it to in-person events. There are several shows globally, multiple times a year - and they’re expanding rapidly. Tradeshows are not only a great place to meet potential customers and other CBD business owners (if you’re B2B) but also CBD suppliers, growers, manufacturers, labs for testing and analytics, flavor suppliers, and distributors. You might even meet a law firm or eCommerce platform that specializes in CBD. CBD Expo CannaCon Top Features to Look For in an eCommerce Solution for CBD We’ve talked a lot about how your website will be the key to success for your CBD business. All aspects of your business will flow through that online portal and because you’re selling regulated goods, some aspects will be more difficult to manage. Here’s the three key attributes you should look for when building your eCommerce site: Scalability. Whether it’s handling a larger volume of traffic and order placements, to a growing product catalogue, your site, and primarily your cart and checkout process, should be able to grow with you as your business scales. Flexibility. You need to seamlessly integrate with a multitude of 3rd party providers that address steps across the entire customer journey to keep the engine running. Just as you should be able to easily weave one into your architecture, should you be able to replace one. When your payment processor decides to stop handling payments for CBD products you don’t want to be stuck and risk losing the ability to accept credit card info. If you’ve decided to accept bitcoin payments for your products, you ecommerce site will need to be able to handle multiple payment types. Long term, as you expand, you might want to start using multiple languages and accepting foreign currency. You will also need to implement a variety of tax specifications and shipping regulations by state. If you decide to include an age-verification step in your checkout process, your site will need to be able to accept and process this data. Speed. You lose revenue for every millisecond your site doesn’t load. We’re not kidding. Amazon did a whole study on it. Your site’s architecture and the tech stack that supports it will directly impact your site performance. Building your eCommerce Experience with Elastic Path You only get the true flexibility you need from an eCommerce site that has an API-based architecture that decouples your front-end from your back end. Yes, I’m talking about headless, but merely picking a headless solution isn’t enough - you need a headless approach that is also ‘services based’ (meaning each part of your eCommerce journey is a separate microservice component that can be assembled together). We’re not talking about using a platform like BigCommerce, Salesforce, or Shopify that offer a form of ‘headless,’ where the APIs are bolted onto the infrastructure already in place, but about building CBD websites with a natively microservices-based back end completely built on APIs. This will enable you to create an eCommerce site with fit-for-purpose components and provide only the features you need. You can learn more here, about why a headless approach to ecommerce is the best option for regulated or high-risk businesses. With Elastic Path you can easily manage complex back-end logic and alleviate many of the challenges you’ll have to face when building and launching your online CBD store. Let us know if you want to learn more about how Elastic Path can help you launch and manage your CBD business.
    Topics: business, products, need, youre, cbd, sell, payment, ecommerce, marijuana, online, site.
  • - Many people might have thought that crypto was a fad but the data points to the fact that it is far from a fad. There are various use cases for cryptocurrencies and the technology that powers it, the blockchain. It… Continue reading How to Sell NFTs on Shopify – The Complete Guide
    Topics: website, guide, creating, selling, payment, sell, nft, shopify, nfts, complete, store, digital.
  • How to Supercharge Your Ecommerce Conversions with Buy Now, Pay Later - Does this sound familiar? You’ve got tons of traffic, conversion-optimized product pages, and a sleek and seamless checkout process. And…
    Topics: conversions, conversion, supercharge, shoppers, customers, purchase, ecommerce, cards, pay, payments, buy, payment, credit, later, bnpl.
  • In Amazon scuffle, Visa’s loss could be Affirm’s gain - Let's look at why BNPL is becoming a more attractive payment option for big e-commerce companies like Amazon and Walmart, as well as merchant marketplaces like Square and Shopify.
    Topics: affirms, payment, gain, transaction, customers, credit, loss, fees, scuffle, transactions, visa, visas, techcrunch, bnpl, amazon, cards.
  • Kevin raises $65M as it charges ahead on account-to-account payments over point-of-sale terminals - Payments remains a very fragmented business around the world: depending on where you’re buying or selling something (and whether you are selling online or offline) you will have different “standard” payment methods, currencies and settlement schemes and more. Today, a startup called Kevin that’s taking one piece of that puzzle — payments made from account […]
    Topics: terminals, electronic, sale, tamosiunas, 65m, pay, raises, payments, kevin, card, physical, ahead, point, techcrunch, payment, accounttoaccount, charges, pointofsale.
  • - Swedish fintech Klarna now has more than 100 million European users on its platform. It has also achieved a 14 percent year-on-year GMV growth in the second quarter in Europe. Within the United Kingdom, the GMV growth was even higher, 26 percent. The Swedish payment service provider Klarna is well…
    Topics: european, united, users, europe, growth, gmv, million, reaches, pay, position, klarna, payment, company.
  • Lack of payment methods leads to loss of money - Online retailers in the UK lose more than 1.8 billion pounds (2.13 billion euros) annually due to the lack of payment methods available for their customers. This was discovered in new research amongst regular online shoppers. New research shows the importance of offering multiple payment methods on websites of online… Continue reading
    Topics: money, research, pay, payment, methods, lack, billion, loss, retailers, respondents, leads, online, euros.
  • Look for Linio to conquer the Home category - This marketplace celebrates nine years in Mexico and wants to become the expert in all household items; from furniture to robot vacuum cleaners.
    Topics: category, linio, marketplace, online, products, need, million, mexico, latin, look, america, payment, conquer.
  • Make it Big Podcast: Optimizing Checkout for a Frictionless User Experience - Welcome to The Make it Big Podcast, a bi-weekly audio series about all things ecommerce by BigCommerce. In this episode,…
    Topics: big, frictionless, checkout, average, order, user, fast, podcast, click, product, payment, optimizing, payments, buy, way, experience.
  • MaxRewards banks $3M to reveal best payment methods that reap the most rewards - MaxRewards is a digital wallet app that manages credit cards and automatically activates benefits like rewards, cashback offers and monthly credits.
    Topics: methods, techcrunch, app, khan, watson, reap, maxrewards, cards, banks, card, credit, reveal, user, company, payment, rewards, 3m, best.
  • Montonio is building the payment and checkout solution to rule them all - Meet Montonio, an e-commerce checkout solution created by a small startup based in Tallinn, Estonia. The company just raised a $12 million Series A funding round (€11 million) led by Index Ventures. It wants to become the only tech partner you need to run a small and medium e-commerce shop. Montonio is a multi-faceted product […]
    Topics: product, building, handles, ventures, techcrunch, solution, payment, montonio, startup, pay, process, rule, company, payments, checkout.
  • NayaPay secures $13 million, largest seed funding in South Asia for its messaging and payment app - Pakistan-based fintech platform NayaPay has raised $13 million in a seed round to roll out its multi-service messaging and payment app, and to build payment acceptance and financial management tools for businesses in the South Asian country. NayaPay CEO and founder Danish Lakhani told TechCrunch that the super-app allows people residing in Pakistan to send […]
    Topics: pakistan, south, techcrunch, seed, million, funding, secures, bank, payment, messaging, payments, round, digital, largest, capital, nayapay.
  • Omnichannel, a key element for the future of commerce in Mexico - If you are a business owner and looking to increase your sales during this pandemic, this interests you.
    Topics: key, future, business, payment, different, commerce, omnichannel, physical, digital, element, technology, online, sales, businesses, mexico.
  • One-Click Checkout with EP Payments Boosts Conversions & Checkout Speed - Customer expectations are escalating rapidly, and what people learn to love in one industry—like effortless food delivery—increasingly defines what they expect from other industries. These ever-shifting expectations put pressure on businesses to meet their customers where they are—delivering products faster, cheaper, and more seamlessly than ever. Most checkout experiences have upwards of 18 fields, adding to a long, complicated checkout process and giving customers the perfect opportunity to abandon their carts. According to the Baymard Institute, 70% of customers will leave when the checkout process takes too long. Other research finds that most sites only need eight form fields for a checkout flow. Watch our webinar to learn how to overcome the five common checkout mistakes that over 90% of brands make. At Elastic Path, we obsess over checkout optimization, to help brands improve their conversion rates continually. We’re thrilled to offer one-click checkout for all businesses using EP Payments, powered by Stripe, at no extra cost.  How easy is it for customers to use one-click checkout? See for yourself: the examples below showcase the benefit of a simple and intuitive checkout flow for your customers.  One-click checkout relies on the largest “rapid checkout” network in the industry; with Stripe’s 30M+ known customers, one-click checkout auto-fills your customers' payment and shipping details so they can check-out in a single click. Enabling one-click checkout is easy; simply add and customize the payment element on the frontend, your customers will enjoy an easy and secure checkout experience.  EP Payments Support Complex Checkouts Across Brands & Channels Go to EP Payments Drive Tangible Business Results: Increase conversions. Reduce cart abandonment by creating a frictionless, fast checkout experience. One-click checkout increases conversion rates by over 7% for known customers. Speed up checkout. By optimizing the process, customers can check-out in just six seconds— nine times faster than anonymous customers. Optimize the user experience. A simple checkout flow creates a better user experience for returning customers. Known customers purchase four times more often than anonymous customers. The one-click checkout experience is just as safe as it is simple for customers. The sensitive data is encrypted to keep it secure, and as a certified PCI Service Provider Level 1, EP Payments one-click checkout meets the highest level of certification available in the payments industry. Other benefits include: 1. Saves Customer Payment Info Customers that choose to save their payment details and shipping address to your one-click checkout-enabled storefront experience a quicker checkout. It auto-fills saved payment details and a shipping address with just a few simple steps. 2. Security: Mobile Verification When customers use one-click checkout on a new site or new device, they’ll receive a one-time code to verify their identity. 3. Improve Checkout Speed Enable buyers to check out in just six seconds—that’s nine times faster for known customers versus anonymous customers. Optimizing checkout speed and ease of use is critical for an exceptional checkout experience. Existing customers can visit EP Payments to turn on one-click checkout. If you’re a new customer, we’d love to chat with you today to see how EP Payments and one-click checkout can supercharge your conversion rates.
    Topics: customers, checkout, oneclick, boost, conversions, simple, payments, fast, ep, speed, known, experience, payment, times.
  • Online retailers: Stop trying to beat Amazon - It’s a matter of building a loyal customer base that comes back time and again for the reliable, personalized service provided by a platform that offers and delivers exactly what consumers want.
    Topics: amazon, retailer, stop, online, network, techcrunch, trying, beat, payment, point, distribution, retailers, customers, data, compete.
  • Ownit helps brands sell products, at the point of discovery, with one click - Its technology connects social, commerce and payment options at the point of discovery with little interruption to you social media scroll.
    Topics: media, shiue, sell, pay, techcrunch, companies, social, discovery, payment, nejati, products, checkout, click, point, brands, ownit, helps.
  • - PayPal is offering passkeys outside of its US home market for the first time. The user-friendly login feature becomes available in Germany and the United Kingdom. “Passkeys are designed to replace passwords and allow seamless logins for consumers across devices and platforms”, PayPal wrote when introducing the service in the…
    Topics: passwords, online, germany, platforms, introduced, uk, payment, google, wrote, paypal, passkeys, introduces.
  • - For years, purchasing on account was the most popular payment method in Germany for online shoppers. However, in 2022, PayPal took over that place. At least 29.6 percent of online purchases were paid for with this payment method. The estimated online net sales in Germany for last year are 85…
    Topics: online, payment, share, paypal, account, offer, method, germany, sales, retailers, purchasing, popular, place.
  • - Online payment provider Paypal is under investigation by the Federal Cartel Office (FCO) in Germany. The company has allegedly hindered market and price competition in its terms and conditions, the German watchdog says. Paypal is currently one of the leading online payment methods in Germany: it is used by over…
    Topics: payment, methods, investigated, price, dominant, watchdog, german, antitrust, online, market, fco, paypal, office.
  • Payrails emerges from stealth with $6.4M led by a16z to build the OS for payments - Payments — taking and paying out money — remains a fragmented and complex area for merchants, marketplaces and others that do business with multiple parties online. As it grows — from $1.5 trillion today to $2.9 trillion by 2030 — that complexity will grow, too. Today, a startup is coming out of stealth with a […]
    Topics: stealth, techcrunch, build, a16z, system, delivery, payments, hero, os, payment, money, work, solution, solutions, led, payrails, 64m, emerges.
  • Paysafe acquires SafetyPay - Paysafe has announced that it has singed a definitive agreement to acquire SafetyPay. The London-based online payments company will pay about 375 million euros for SafetyPay in an all-cash transaction. SafetyPay, founded in 2007, is an ecommerce payments platform that enables online transactions via several open banking and electronic cash… Continue reading
    Topics: paysafecard, paysafecash, safetypay, payment, acquires, shop, online, solutions, platform, payments, paysafe.
  • Picking a Processor: How Security Leads to Success in the CBD Industry - In the year 2022, if you’re in the business of, well, business, setting up an ecommerce platform on your website…
    Topics: online, business, industry, help, ecommerce, payments, processor, success, cbd, security, picking, payment, leads, merchant, processing.
  • Potential winners and losers line up as Plaid pushes deeper into payments - So now Plaid says it’s a payments company. It was only a matter of time, really.
    Topics: users, techcrunch, payment, line, winners, plaid, initiation, service, potential, pushes, deeper, losers, transfers, today, payments, ecosystem, tool.
  • Preferred payment methods in Europe 2021 - Online retailers in Europe need to offer all kinds of payment methods if they want to reach as many customers as possible. Every country has its own preferences. Let’s have a look at the preferred payment methods in Europe in 2021. There are so many online payment methods in Europe.… Continue reading
    Topics: wallets, method, payment, methods, card, bank, visa, preferred, europe, cards, digital, online.
  • - Are you in the market for a business bank account? Great – because you’re in the right place. This review looks at two well-known options: Starling Bank and Revolut Business. Starling is a UK-based bank offering personal and business banking… Continue reading Revolut Business vs Starling (2023): Everything You Need to Know
    Topics: need, starling, payment, revolut, business, vs, payments, account, money, free, exchange, know, bank.
  • - Selling CBD on Shopify, or anywhere online, can be an extremely profitable endeavor, but there are some restrictions and regulations you must abide by in order to successfully run a CBD business without any problems.  The hemp-derived and CBD (cannabidiol)… Continue reading Selling CBD on Shopify in 2022 and Beyond
    Topics: selling, sell, products, business, youre, payment, shopify, hempderived, cbd, cbdfriendly.
  • - Making the choice between Sezzle vs Afterpay can be difficult. Both of these tools offer buy now pay later solutions, to ensure you can access the products and services you need quickly, even when you don’t have all the cash… Continue reading Sezzle vs Afterpay: Which BNPL is Best?
    Topics: payment, dont, sezzle, need, bnpl, youre, afterpay, best, pay, owe, credit, vs.
  • - Shop Pay Installments is a payment solution offered by Shopify that lets users buy more expensive products without leveraging credit card debt. Below, you’ll learn about the benefits of Shop Pay Installments for businesses, how it works, and how to… Continue reading Shop Pay Installments — Everything You Need to Know
    Topics: shop, payment, customer, need, shopify, paid, payments, know, customers, installments, pay, usd.
  • - Let’s look at some key features firts: PayPal Shop Pay Alternatives If you want to chuck both Shop Pay and PayPal, you can go with Stripe, Apple Pay, or credit cards. Overall rating Shop Pay: ⭐ 4.7/5 PayPal: ⭐ 4.5/5… Continue reading Shop Pay vs PayPal 2024: Battle of the Titans
    Topics: payments, pay, vs, battle, paypal, store, payment, shop, titans, dispute, charges, shopify, days.
  • - Shopify POS vs SumUp POS: Which point of sale system will help your business achieve new heights in the months and years ahead? Both tools are excellent solutions for commerce companies, offering access to powerful reporting, analytics, and payment processing… Continue reading Shopify POS vs SumUp POS 2024: Battle of the POS Systems
    Topics: shopify, tools, sales, vs, companies, features, battle, plan, systems, payment, pos, range, sumup.
  • Silverflow nabs $17M for its updated, cloud-based take on payments processing technology - When it comes to online payments, the front end of the system has seen a massive amount of disruption in the last several years, with companies like Stripe, Adyen, PayPal, Square and others building APIs that make it very simple for online merchants to integrate easy payment services into their checkout flows. But when it comes […]
    Topics: cloudbased, providers, data, updated, payments, services, technology, legacy, silverflow, techcrunch, systems, nabs, 17m, processing, payment, transactions, vries.
  • Spanish flower delivery startup Colvin raises 45 million euros - Colvin, a flower delivery startup from Spain, has raised 45 million euros. It will use the new funding to expand its operations in Europe, starting with France. It will also invest further in its platform, and expand the team to about 300 people. Colvin currently operates in Spain, Portugal, Italy,… Continue reading
    Topics: flowers, startup, colvin, payment, million, expand, raises, spanish, euros, delivery, team, flower, whitepaper.
  • Stablecoin, CBDCs Could Improve Ecommerce - Digital currencies have the potential to expand ecommerce, lower transaction fees, eliminate chargebacks, and prevent fraud. So far, however, volatility and its fear have stopped most merchants and brands from accepting cryptocurrencies. But this could be changing.
    Topics: improve, digital, card, fees, merchants, bank, payment, cbdcs, ecommerce, currencies, transactions, stablecoin, stablecoins.
  • Text Commerce Is Upfront Permission to Sell - Text commerce is the process of obtaining payment and shipping info from shoppers upfront as well as permission to send offers. The model can solve multiple hurdles for merchants.
    Topics: service, text, wine, shipping, sell, payment, upfront, permission, ecommerce, address, coffee, business, messages, commerce.
  • - When you start an ecommerce site you realize that there are loads of items that need to be checked, cross-checked, and tested to ensure that your customers have a quality user experience. From the website design to a sleek, quick… Continue reading The 14 Point Ecommerce Launch Checklist (Mar 2022)
    Topics: payment, checklist, launch, product, site, website, point, mar, customer, page, pages, customers, shipping, ecommerce.
  • - If you’re looking for some free Shopify alternatives, you’re in the right place. According to our research, Square Online is the best choice if you're looking for a free alternative to Shopify, because of its generous free plan, and Ecwid… Continue reading The Best Free Shopify Alternatives for 2023
    Topics: payment, website, alternatives, shopify, tools, plan, options, online, marketing, store, free, best.
  • The Ultimate Guide to eCommerce Payment Processing - eCommerce is booming, and with more people shopping online than ever before, having a streamlined and efficient payment process is essential. However, with so many payment methods and processors available, and so many new payment trends, it can be overwhelming to know where to start. When you have a reliable eCommerce payment processor, platform, or service provider, you spend less time maintaining the back end of your commerce experience and more time managing orders, improving customer experience, and expanding your business. Having a great payment processing setup gives you the freedom to work on business priorities, such as landing new clients and providing customers with a sterling experience. In this ultimate guide to eCommerce payment processing, you’ll learn everything you need to know about accepting payments online – from understanding the different types of payment methods to choosing the best payment processor for your business. What is eCommerce Payment Processing? eCommerce payment processing is the process of accepting online payments. eCommerce payment processing first involves the customer inputting payment information, which a payment gateway validates and uses to process the transaction via a merchant account. The goal of eCommerce payment processing is to provide a secure, reliable, and convenient way for customers to pay for online purchases – while also ensuring that sellers receive payment quickly and efficiently. As digital commerce has grown, reliable and secure payment solutions are necessary to handle the high volume of online transactions. eCommerce payment processing is now crucial for any online business, as it allows merchants to accept payments from customers worldwide. And with the growth of mobile and digital payments, eCommerce payment processing is set to become even more important in the future. What is a Payment Gateway? A payment gateway is a software application that makes it easy for businesses to accept and process customer payments online. Payment gateways act as a bridge between a merchant's website and the financial institution handling the customer's payment, ensuring that sensitive information such as credit card details are appropriately encrypted.  While most payment gateways come with fees, there are many different options available on the market today. Businesses can choose the one that best fits their needs and start accepting payments online quickly and easily. Payment Gateway Examples With a bevy of choices available, choosing the best payment gateway for your business can be hard. Here are some of the leading payment gateways that could fit your unique business needs: PayPal: PayPal is a popular online payment gateway that allows individuals and businesses to make and receive payments online. Users can link their bank account, credit card, or debit card to their account and use it to make or receive payments for goods and services.   Stripe:  Stripe integrates with business websites and mobile apps, allowing customers to enter their payment information and complete a transaction securely. Stripe often processes payments, deducts fees, and transfers the funds directly to a business's bank account.   Square: Square is a digital payment processing platform with a range of features and services for businesses, including point-of-sale (POS) hardware and software, online payment processing, invoicing, and analytics. The platform is designed to be easy to use and accessible to businesses of all sizes, with no setup fees, monthly fees, or long-term contracts.   Elastic Path Payments Powered by Stripe: Elastic Path Payments, powered by Stripe, is a fantastic all-around eCommerce payment processing solution for businesses of all sizes. With a robust and secure payment processing platform and a broad range of plug-and-play integrations and solutions, this state-of-the-art payment system will propel your business to a new level of efficiency and profitability.     Get hands on with an Elastic Path Free Trial Start building the commerce experience your unique business demands with a free Elastic Path Commerce Cloud account. Get in touch with us and we will setup a Free Trial store for you for six weeks. Sign up for a free trial Factors to Consider When Choosing an eCommerce Payment Gateway While many payment gateway options are available, brands should still look for a few specific factors when choosing a payment gateway. Here are some of the key factors brands should consider when choosing an eCommerce payment processing system:  Security: To protect your business from the stress and potential liability of a data breach, be sure that your payment gateway is as committed to security as you are and can protect your business’s and clients’ sensitive information.    Integration: Your payment gateway should seamlessly integrate with your website or eCommerce platform to ensure a smooth checkout process for customers.   Fees: Consider the fees charged by the payment gateway, including transaction, monthly, and setup fees, and make sure they’re affordable for your business.   Customer Support: Pick a payment gateway that offers reliable customer support to address any unforeseen issues during the payment process. What is a Payment Processor in eCommerce? A payment processor is a third-party service provider that facilitates transactions between a merchant and their customers. Payment processors handle the authorization, processing, and settlement of payment transactions in a secure environment.  eCommerce payment processors act as a bridge between the merchant's bank account and the customer's bank account, ensuring the secure transfer of payments. While payment gateways act as a conduit between the merchant and the payment processor, it is the payment processor that handles the actual transaction. Best Practices for eCommerce Payment Security Making online purchases is simple and convenient, but has historically also come with risks, particularly regarding payment security. As a result, businesses need to take extra steps to secure their eCommerce payment processing systems and protect their (and their customers’) sensitive information. Here are eCommerce payment security best practices: Use HTTPS and SSL encryption for security: HTTPS and SSL encryption ensures that all data transmitted between the customer's browser and the website is encrypted and can’t be intercepted by hackers. Implement two-factor authentication: Two-factor authentication adds an extra layer of security by requiring customers to enter a code or use a separate device to confirm their identity before completing a transaction. Store customer data securely: Proper storage of customer data incorporates a range of techniques, including using strong passwords, limiting access to sensitive data, and regularly backing up data to prevent loss in the event of a breach. Conduct regular security audits and updates: Security audits and updates involve regularly reviewing and updating security protocols, testing for vulnerabilities, and staying up-to-date with the latest security threats and technologies. Streamline Your eCommerce Payment Processing with Elastic Path Clearly, eCommerce payment processing involves many moving parts. Your customers expect a strong, seamless commerce experience, and will do business elsewhere if paying is a hassle or their data is breached. At Elastic Path, we’re dedicated to providing the best eCommerce payment processing solutions for businesses of all sizes. Our experts are always on hand to assist you in choosing and setting up an eCommerce payment solution that works for your brand. Get in touch and learn how Elastic Path can provide an eCommerce payment processing solution that serves your customers, boosts your brand, and grows your business.
    Topics: payment, gateway, customers, guide, online, data, fees, payments, business, processing, ecommerce, ultimate.
  • - Welcome to our ultimate Sezzle review. If you run an online business you know how crucial it is to offer your customers the right payment solutions at checkout. Imagine offering only Sripe as the payment option for shoppers on your… Continue reading The Ultimate Sezzle Review (Dec 2021): A Pay Later Service for Online Shopping
    Topics: online, dec, customers, customer, product, ecommerce, pay, shopping, later, credit, solution, sezzle, review, ultimate, payment, service.
  • - In this Tide vs Revolut Business review, we’re zoning in on two of the most popular business banking services on the market. However, if you don't have time to trawl through my entire Tide vs Revolut Business review, here are… Continue reading Tide vs Revolut for Business: What You Need to Know
    Topics: need, payment, revolut, tide, business, vs, payments, spending, account, free, exchange, know, team.
  • Tired of Customers Abandoning Their Online Shopping Carts? Here are 7 Foolproof Strategies to Improve the Checkout Experience - Here are seven tips to improve ecommerce checkout impact, including making costs and fees clear upfront, offering multiple payment options, making the online checkout button easy to find, and ensuring the user has a secure checkout experience.
    Topics: online, experience, options, strategies, improve, foolproof, add, process, checkout, pay, payment, customers, customer, cart.
  • Top 10 Things Customers Expect from Your Online Store - Customer experience is key to any online shopping scenario. Shopping behaviors dictate these experiences and if you’re paying attention to your bottom line there are a few rules to follow: 1. Omnichannel Experience: Allow your customers to shop any way they choose. What that usually means is a blended, omnichannel approach from discovery to purchase. Your customer may start in a brick-and-mortar store window shopping for their next couch, but the transaction may occur on a tablet as they settle in for the night streaming their favorite show. What that means for you isa consistently branded, fully optimized experience across all platforms. From store, to smartphone, to laptop, the experience is seamless. 2. Clear Shopping Interface: One of the key detractors for an abandoned cart is always a clean interface with the shopping cart in clear view. One of theUser Interface design champions is Amazon. With the uncluttered layout and icons (including shopping cart), the user is guided through their shopping journey from search to checkout. 3. Visual Appeal: In addition to clear focus towards checkout, shoppers respond to pleasing layouts (more UI driven design). A trend in the mobile commerce world is the adoption of integrated design. More and more apps are turning to animation and card layout design to entice the user to engage in any way they choose. Here is an example of the card layout design. 4. Robust Search: The larger your product catalog, the more important site search is to your ecommerce success. While it's rare to find an ecommerce site without a search box, it happens, even among some of the most famous brands. Search result usability is also important. Customers expect filtered navigation to further refine results by attributes that are meaningful to them (category, price, star ratings, color, size, etc.). Killer search result pages provide filters, the ability to sort results, prices, stock availability, large thumbnail images, product description snippets and add-to-cart/add-to-wish list buttons. When it comes to product search, Elastic Path partners with Algolia to enable product catalog sharing. Elastic Path offers the script to push the catalog from Elastic Path Commerce Cloud to Algolia. With an integration partner for functions like search, you ultimately build better user experiences with easy implementation and quicker speed to market. 5. Customer Reviews: Customer reviews are known to increase conversions by as much as 270%, with a majority of shoppers (82%) seeking out negative reviews. Word of mouth matters, and shoppers not only seek it out they clearly trust it. 6. Chatbots Shoppers: Prefer the ease of contacting a chatbot to resolve cart or order issues versus making a time-consuming live call and be subjected to the dreaded call queue, or the slower pace of waiting on an email inquiry response. Aside from customer support, product suggestions are a chatbot use case to guide your customer towards purchase, much like a personal shopper. You may also see applications in weather, online banking, news, or even ordering a pizza. Chat is good for business. Research shows sales activity transacted through chatbots, digital voice assistants, and messaging is expected to rise from $41 billion in 2021 to $290 billion by 2025 according to Juniper Research. Read more about top chatbot providers in the market. 7. Personalization: With so much competition in the marketplace it’s important for brands to differentiate themselves with unique experiences. A growing demand for personalized shopping, often tied to social media, is highly sought after among online shoppers. With the ability to curate personal collections and browse influencer content, shoppers are enticed by product suggestions specifically tailored to their style. 8. Payment Methods: Allow customers to pay with any method they choose. Alternative payment options like digital wallet options from Apple, Google, or Samsung are widely accepted and favored for their touchless function. A growing trend in mobile payment is the BNPL (Buy Now, Pay Later) option from vendors like PayPal and Klarna. BNPL provides a broader payment solution for those on a budget who seek big ticket items. 9. Quick Page: Speed The albatross of all shopping experiences. The slow page load. You have a matter of seconds to impress a shopper once they arrive at your site. The good news is you have established metrics and UI/UX design methodologies in your corner to optimize the experience. 10. Easy Checkout: The checkout process can be tedious enough with entering multiple fields on a smaller smartphone screen. It’s frustrating to get so close to the “place order” finish line then have the burden of a forced account sign up. It most likely results in an abandoned cart. Create more options for shoppers by allowing them either path to purchase; create an account, or simply checkout as a guest.
    Topics: shoppers, customers, customer, things, store, shopping, cart, expect, design, online, search, payment, path, experiences, product.
  • Trustshare runs escrow infrastructure as a service to facilitate online sales - Meet Trustshare, a London-based startup that is working on escrow infrastructure for online classified, B2B marketplaces, trade directories and more. It’s a white-label platform that can be integrated with online marketplaces in just a few lines of code. If you’ve ever tried to sell something expensive on the web, you know that it’s hard to […]
    Topics: uk, know, techcrunch, sales, infrastructure, payment, trade, facilitate, money, checkout, runs, online, escrow, marketplaces, service, trustshare.
  • Understanding and Troubleshooting Failed Orders - Why do orders fail in WooCommerce? Is there a site problem? Can it be fixed? Learn why orders fail, how to solve common issues, & how to prevent future errors.
    Topics: gateway, card, woocommerce, understand, order, failed, solved, payment, steps, fix, message, customers, status, error.
  • Using Amazon Pay to Create a Customer-Centric Checkout Experience - Shopper experience lies at the heart of ecommerce. Businesses can succeed or fail depending on how seriously they take customer…
    Topics: payment, pay, amazon, customer, create, process, experience, trust, using, shoppers, customercentric, checkout, merchants.
  • - Expense management for your business can be complicated and expensive if you're forced to issue cards from traditional banks.  For example, the exchange rate might not be in your favor, and each card might come with account costs that can… Continue reading Wallester Business Review (2023): Is This Payment Solution for Your Business?
    Topics: payment, plan, wallester, card, expense, solution, cards, virtual, spending, account, review, free, business.
  • - Accepting cash for your products during in-person interactions is easy. Customers pick a product, hand you their money, and you deal out some change if need be. This physical exchange is quick, simple, and easy to understand. But when it… Continue reading What is Shopify Checkout? Everything You Need to Know
    Topics: customers, click, customer, customize, shopify, order, know, payment, page, need, image, checkout.
  • With founders hailing from Colombian unicorn Rappi, payments startup Yuno raises $10M from a16z and LatAm VCs - As the Latin American startup scene has matured, founders and executives of multibillion-dollar companies in the region have started to move on to new ventures. On Wednesday, TechCrunch reported on Mara, a São Paulo-based startup that aims to “reinvent” the grocery shopping experience for the underserved in Latin America, and its $6 million raise. One […]
    Topics: startup, raises, vcs, rappi, companies, pain, payments, solution, unicorn, experience, latam, yuno, hailing, payment, latin, techcrunch.
  • - In this Gumroad review, we’re looking at an innovative ecommerce sales platform, designed for the budding creator economy. Launched in 2011, Gumroad is a straightforward shopping experience that helps you to start selling products instantly. In recent years, Gumroad has… Continue reading Your Go-To Gumroad Review (Updated for 2023)
    Topics: payment, payments, products, theres, goto, review, product, gumroad, ecommerce, customers, help, sales, updated.
  • Your Startup Guide For Selling Wholesale to Other Retailers - Is selling wholesale worth it as a small business? A $10 trillion industry, wholesale can be a profitable sales channel for any retailer. Learn how to set up your channel and start selling wholesale items today with this guide.More
    Topics: retailers, order, startup, shopify, selling, customers, store, product, payment, guide, business, products, wholesale.
  • - eBay sellers in Germany can no longer accept cash payments from customers when they pick up their orders. Click & collect is still available, but payments must be made through the “existing standard payment processing”.eBay Germany informed affiliated retailers of this policy change via email last Friday, and it went…
    Topics: cash, germany, customers, pickup, ebay, selfcollection, payment, sellers, discontinues, standard, option, orders.
  • - Dutch payment service iDeal has been acquired by the European Payments Initiative (EPI), a collaboration of European banks. Payconiq, technology provider of iDeal and Belgian payment platform Bancontact, has also been taken over. iDeal is to form the basis of a Europe-wide payment system, according to EPI. iDeal was founded…
    Topics: dutch, ideal, european, service, banks, payment, payments, acquired, plans, online, payconiq.
  • - Last year, more than 1.2 billion payments in the Netherlands were fulfilled through iDeal, the popular local payment method. This is an increase of 7.9 percent compared to 2021. The online payment method shows strong growth, despite a decrease of 5 percent in ecommerce purchases within the country. iDeal was…
    Topics: increased, method, market, transactions, vital, payment, dutch, ideal, european, payments, ecommerce, purchases, netherlands.
  • - Consumers’ pursuit of more affordable prices is fueling cross-border shopping behavior, according to a consumer study conducted by Worldline in six European countries. The study reveals that approximately half of consumers regularly shop outside of their domestic markets. “The primary driver behind this behaviour are the better value and product…
    Topics: increases, consumers, shopping, payment, online, crossborder, worldline, value, technologies, shoppers, price, wallets, study, drive.