Online credit card processing attracts sales from Web-savvy customers
January 17, 2014
Consumer-oriented technology trends typically provide valuable insights for retailers into ways to improve their electronic payment systems. As more small enterprises find a niche in today's high-tech business environment, understanding the kind of devices their target customers own offers hints into which transaction channels can ultimately be the most lucrative.
Shoppers have more access to the Internet than ever before
Gallup recently released the results of a survey highlighting the many ways Americans' tastes in technology have changed over the years. The report compared 2013 data with the results collected from a similar study in 2005. Between those years, consumers gave up their basic cellphones in favor of more smartphones and tablets. Many individuals now forgo desktop computers for more mobile-friendly devices such as laptops. Seventy-three percent of more than 1,000 people surveyed said they have reliable WiFi access in their own homes. Similarly, 62 percent are able to access the Internet through their smartphones.
Houston Chronicle said having a deep understanding of shopper behaviors and preferences is crucial for long-term business success. No retail manager wants to lose customers simply because their company is unable to offer the convenience of an e-commerce portal. As more Americans have access to Internet-capable mobile devices, they may be less interested in visiting brick-and-mortar stores to make purchases.
Investing in advanced payment processing technology will help small and midsize enterprises find affordable ways to accept credit cards online. This newfound flexibility will ultimately keep store performance levels competitive with those of other establishments. Running a business in today's market requires the ability to swiftly adapt to industry changes. Utilizing technology that follows consumers to their preferred online channels will eventually lead to a long-term increase in sales.