The Bitter Truth About Credit Card E-commerce vs The Competition

In an exclusive interview by Jennifer LeClaire published in the E-commerce Times, CEO of AIS Media, Mr. Thomas Harpointner, reveals the ‘Seven Deadly E-Commerce Sins‘.

The entire interview is very informative, I highly recommend taking a look. Quoted below is a just one Q&A which directly relates to the world of online payments. For me it is ‘the bitter truth’ since we use and support so many alternative methods of online payment.

ECT: I’ve read that a lack of payment options can really hinder conversion rates. Is that true? Is it a sin in the consumer’s eyes to limit the options?

Harpointner: Over 90 percent of all online purchases are made with a credit card. If you’re serious about selling online, your Web site MUST be able to accept all major credit cards in order to effectively compete. Accepting credit cards also gives your company an established and professional image and helps give more customers the confidence necessary to do business with you.

Third party payment processing services such as PayPal are fine to offer as an option but should by no means be your only method of accepting payment. If a customer has had a negative experience with such a service, he/she is likely to shop elsewhere. Giving customers the option to place their order online and mail in their payment can also increase sales. Look for the “offline processing” feature in the shopping cart system you choose.

Here is the entire story : www.ecommercetimes.com/