Retail and Global Payment Services

For anyone in the retail trade, the changes in how customers shop and pay for retail goods is obvious. Online shopping has become a force to reckon with today and if you aren’t part of the solution then you will become part of the problem. With the introduction of global payment services for the retail sector a whole new world of casual online shopping has been introduced. When it comes to higher returns on investments, you just can’t beat this new shopping online method. By staying on top of the latest methods for online payments and making the jump from national to international many retailers are finding the net is the place to be.

New Methods of Payment Abound

Not that long ago the internet was seen as a catalog for retailers. The idea of buying online was dismissed as unsafe and impractical. Today there are numerous methods for paying online for that shirt or pair of shoes you just fell in love with, including third party vendors and in-house services. What works for you depends on your customers buying habits. With cash buying on the way out, plastic credit cards and bank cards growing steadily and online purchases increasing year to year, retailers need to stay aware of changing buying habits. One trend is the growing use of bank cards for smaller purchases. These trends mean that retailers online need to have global payment services that can absorb these costs and still allow customers from anywhere to make that purchase with security and ease.

Smartphones and Global Payment Services

Of course, the biggest shift in the last few years has been the growing use of smartphones for everything from email and texting to maps and shopping. Today’s young smartphone user takes out their phone at the start of the day to check messages and the latest news, leaves it within reach throughout the day for updates and even uses it to purchase last minute buys on the way home. No matter what you sell on the web, if you don’t have a plan to allow them to buy directly from their smartphone you are leaving money on the table. From local merchants who offer easy ordering of groceries they plan to pick up on the way home to world wide industries that discount through social media for impulse buying online, your global payment services portals need to be ready to handle the constant flow of traffic.

Extending the Retail Reach

The latest innovations that make good use of this shift in buying include combining instore buying with online purchasing. Retailers who carry a wide range of goods can have customers view other color options online, order and arrange delivery, all from the retail location. Clothing retailers can install smart devices that show customers accessory options in the dressing room that are ordered as they try on their outfits and are ready for purchase when they step outside the dressing room. All of these innovative uses of the net’s global payment services networks allow retailers to extend their selling reach and help customers make smart purchasing decisions. In the end it is a win-win decision for both parties.