Update online shopping carts to maximize payment processing efficiency
November 08, 2013

North American retailers can enhance revenue streams by investing in electronic payment systems to accept credit cards through online shopping portals.

Consumers across the entire continent have taken strongly to e-commerce options in recent years. According to a survey from the market research organization NPD Group, 63 percent of Canadian shoppers said they purchased goods online in the last six months. The industry has charted steady growth as well. Ottawa Citizen, a daily newspaper, cited data from Statistics Canada that found the total value of Internet retail within the country reached nearly $19 billion in 2012. That number is 24 percent larger than it was in 2010. These trends present unique opportunities for businesses that want to find ways to satisfy customers with convenient shopping options that fall in line with changing consumer preferences.

"People are becoming so much more savvy and you need to appeal to the masses every way that you can," Sandy Silva, a fashion analyst at the NPD Group, told Ottawa Citizen.

The same patterns are also occurring in the U.S. Internet Retailer, an online e-commerce intelligence resource, reported on recent findings from comScore that said American consumers spent a total of $53.3 billion on items purchased over the Internet in Q3 2013 alone. During the same quarter last year, that total amounted to $46.5 billion.

As consumers across North America continue to opt for e-commerce channels when buying goods, retailers may want to update their existing online shopping cart technology to enable maximum efficiency and organization for backroom processes. The ability to accept credit card payments from consumers while allowing individual transaction data to be seamlessly integrated with brick-and-mortar establishments can serve as a valuable advantage for retailers in an increasingly competitive environment.

Nexus: G-WEBCD2