Cyber Monday outlook highlights importance of payment integration
November 04, 2013

Small and medium-sized businesses can better prepare for rapid increases in consumer activity by incorporating integrated payment systems into existing financial operations.

According to data compiled recently by Fat Wallet, an online price comparison resource, the upcoming holiday shopping season will likely result in a large volume of sales for brands that operate both brick-and-mortar and e-commerce channels. For example, the company found 91 percent of shoppers surveyed said they will make purchases directly from online retailers on Cyber Monday, which occurs the week after Thanksgiving. Thirteen percent said they would conduct most of their shopping on mobile devices as well. Overall, Fat Wallet determined total sales from this year's holiday shopping season will likely surpass those from previous years. In fact, 52 percent of shoppers said they expect to spend more money this year than they did in 2012.

Search Engine Watch, an online publication, said stores must take a variety of steps to ensure both their online and physical points of sale are fully connected. For example, e-commerce portals must be optimized for mobile integration. Additionally, website speeds should be fast enough to eliminate the risk of shoppers abandoning their carts before they make an actual transaction.

However, another reliable operational investment is to incorporate payment integration services to make the most out of the holiday shopping season. Many business owners spend significant amounts of time processing financial paperwork related to sales activity. As stores accept credit card payments from a variety of channels, these procedures can quickly become complicated. Advanced, fully-integrated systems make it easier for brands to organize financial information from multiple sources with as much security as possible. As a result, stores can focus on other important business tasks during the holidays and ultimately enjoy a substantial increase in revenue.

Nexus: G-WEBCD2