Straight Talk about the Internet
What is a E-Commerce and all the hype behind it?
Originally, the soul purpose of the Internet was to
share and exchange information, but today's web sites
are designed with so many more objectives. In addition
to the colour, graphics, interactivity and entertaining
nature, web sites have become an integral tool for
marketing and sales. E-Commerce is the term we use to
refer to online merchandising and the processing of
financial transactions over the web. E-Commerce is
quickly becoming the norm rather than the exception.
Many companies have found E-Commerce to be a vital tool
keeping them on the competitive edge.
How can I accept online payments for my business?
You will need a web site if you do not already have one.
Next, your objectives will include establishing the
resources to gather detail from you web site visitors in
the way of credit card numbers, expiry dates, value of
purchases, name, address, phone number and so on. This
data must be sent over the Internet in a secure manner
to protect your customer's confidentiality. Credit card
authorization must be completed immediately and
confirmation of sales and transactions must all be
generated to complete the sale.
You may choose to make arrangements directly with your
bank. You will need to establish a new and unique credit
card merchant account even if you have an existing
account for instore use. Banks deem, that Internet
transactions are far more risky and as such will
probably require a security deposit amounting from
$1,000 to $10,000, depending on the nature of your
sales. One-time software and setup fees, plus flat
monthly and transaction fees will apply. Many find that
these costs are too great.
The alternative which is catching on in great popularity
is to subscribe to third party services that will offer
everything you need at reasonable monthly rates. Such
processing companies provide all of the tools needed to
accept secure credit card transactions over the
Internet, including real-time authorization, voids,
returns, settlement and other payment management
capabilities.
Some web host companies will also offer these services
and may do so by partnering with financial institutions
or private companies.
What about an alternative approach to compete for
online business?
If you are not ready to initiate E-Commerce on your web
site, the natural alternative is to get a toll free
(800) telephone number and incorporate this into your
marketing. Encourage your web site visitors to call toll
free for inquiries and/or order products and services.
Your existing credit card merchant account may allow you
to accept purchases without the card holder's presence,
but be aware that there is a substantial risk. Toll free
numbers are very accessible these days, even for very
small businesses. A low monthly flat fee and time
charges allow for easy budgeting.
You may want to consider accepting cheques from your
customers based on conditions that are clearly
stipulated on your web site. Conditions can include
delaying shipment until the customer's cheque has been
cleared. Accepting money orders and certified cheques
may be acceptable methods of payment from your
customers.
I'm an honest business operator. How can I build a sense
of trust and credibility with potential customers over
the Internet?
Your customers want to know as much about you as
possible. Your web site should include your company
name, your physical location, contact names and
information. Provide all the information you can about
products and services offered, purchase agreements,
refund policies, methods of payment, terms of service
and shipping information. Be available to your
customers. Provide service, follow up e-mails and
telephone calls within 24 hours and make no promises you
may doubt you can keep.
Authenticate your products and services with as much
detail and background information as possible. You
should strongly consider including customer testimonials
on your web site. Ask these customers for permission to
use their comments and preferably to include contact
information, ideally an e-mail link.
Your integrity will make, or break you!
Need assistance?
Ask your webmaster for help. Your webmaster should be in
a position to offer some advice or assist you in
coordinating and implementing E-Commerce solutions for
your web site.
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