Accept credit card payments online to sustain long-term retail growth
February 04, 2014
Tools that make it possible to easily accept credit cards online will be especially valuable for retailers as digital technology continues to shape the nature of the industry.
A recent article from The Associated Press focused on the many ways in which shopper behaviors have influenced decisions at consumer-oriented businesses of all sizes. The news agency cited data from the research firm comScore that found Internet retail revenue increased 10 percent between November and December. The entire industry is now valued at $46.5 billion and is expected to continue growing into the near future. The research firm Forrester anticipates total revenue from online retail to reach $370 billion by 2017, according to the online publication AdAge.
In other words, enterprise owners who have yet to fully invest in advanced payment processing tools may finally want to consider doing so. It turns out many already have. AdAge also cited data from a National Retail Federation report that found roughly 70 percent of retailers have plans to update their existing software tools this year.
Focusing on flexible credit card processing technology is an easy way to experience meaningful business growth. Stores are simply missing out on too many revenue opportunities by neglecting to keep their online shopping stores in good shape. However, offering online transactions isn't just convenient for consumers. These tools have the opportunity to increase overall efficiency on the business side of retail. Integrated payment systems offer a convenient method for collecting financial information from purchases on a variety of channels.
Preparing for a more dynamic retail industry will require the strategic use of technology. Small and midsize enterprises will be able to experience steady growth by utilizing advanced credit card processing resources.