Guidelines to execute a bricks-and-clicks strategy

Online retailers are finding the bricks-and-clicks strategy to be an effective way to serve and engage shoppers. Perhaps that is why an increasing number of ecommerce merchants are setting up shop offline. It’s important to note, however, that a bricks-and-clicks business isn’t just about having a physical store and an ecommerce site. For this model to be effective, each channel must complement and add value to the other.

Guidelines to execute a bricks-and-clicks strategy:

Allow Access to Online Account Information in Physical Store

Bridge the gap between bricks and clicks by giving your customers and physical-store staff access to online account information. Doing so can enhance shopping experiences and drive sales.

Integrate Online and Offline Inventory, Fulfillment

Offer click-and-collect services that allow shoppers to buy merchandise online and pick it up at a local retail branch or service station. Many consumers would rather forgo the shipping costs and wait time and instead pick up their items at a time and place that’s convenient for them. Also, use your brick-and-mortar inventory when an item is out of stock online.

Use Online Data for Offline Selling, and Vice Versa

Data pertaining to online sales and traffic won’t just help you optimize your ecommerce site. It can also apply to offline decisions. For instance, if you see an increase in sales for a particular product on your website, you should consider promoting it offline, as well, to your brick-and-mortar shoppers.

Also pay attention to social media data such as Facebook likes and Pinterest pins. What’s trending on social sites can help with merchandising and marketing. Consider something similar in your brick-and-mortar business. Take note of the most liked, viewed, and pinned items online and then leverage that information when making decisions regarding product displays, inventory and more.

You can also use offline information to enhance your ecommerce site. Utilize in-store analytics tools, such as people counters and sensors, to better understand how your offline customers behave and then compare that with online behavioral data to spot patterns and opportunities.

Qualitative information, such as shoppers’ common questions and concerns, can also be used to improve your online shop. For instance, if your physical store associates keep getting the same questions about a particular product, there’s a good chance that online shoppers have similar queries. So you may want to include the answer in that item’s product description page.

Use Smartphone Beacons in Physical Stores

Beacons are Bluetooth-enabled devices that let brick-and-mortar merchants send customized offers and recommendations to their shoppers via their smartphones based on where the shoppers are in the store. For example, if a shopper is in the footwear department, the retailer can use its store beacons to send the shopper a coupon for shoes. Bricks-and-clicks businesses can also use the technology to send tailored offers to shoppers based on their online behavior.

Posted in Best Practices for Merchants Tagged with: account, Beacons, bluetooth, brick and mortar, business, consumers, coupon, customers, data, devices, ecommerce, Facebook, inventory, marketing, merchandising, Merchant's, Online Account Information, Online Data, pinterest, product, sales, shoppers, site, smartphone, social sites, store, website

Virtual Merchant (Element, Services and Benefits)

Virtual Merchant

A virtual merchant is a website that sells goods and services to the public via online transactions with debit and credit card processing. The end result is a fully online experience where consumers can virtually visit a store to browse goods, purchase them fully online and receive them in the mail several days later, all from the comfort of your personal computer.

Virtual Merchant Element

Virtual merchants are made up of multiple features that basically make a website into an online store. Online stores provide e-commerce capabilities in the form of processing payments for orders and then shipping the goods or services either digitally or physically. Some brick and mortar companies may create a Web presence that only describes the store or displays the goods it sells, but they may not sell anything online.

Virtual merchants are a different breed from simple informational websites, utilizing a merchant account to create a secure online storefront. Merchant accounts create a contract between the store and online credit card processing companies. As part of this merchant account agreement, the virtual merchant pays the processor vendor a percentage of each transaction made via the online store. In some cases, this fee comes out to a monthly rate with a set per-transaction fee.

Virtual Merchant Services

Many virtual merchant services exist that cater to both online and offline business presences, though many that specialize in online retail offer more features and functionalities. These service providers offer virtual terminals to create a fully-functional payment gateway for processing purchases and creating a fluid shopping experience. Companies like National Transaction Corporation stand out as among the most popular of options due to their low merchant account fees and comprehensive virtual merchant services.

Benefits of Virtual Merchant

Virtual merchants expand the functionality of a website beyond a simple informational resource into a usable storefront. As is the case with most any type of online service, a virtual merchant service will help reduce overall work and costs associated with creating an online storefront, freeing you up to run your business as it was meant to be.

Using virtual merchant services for your website can benefit business in the following ways:

1. Easily integrates with your existing website for brand continuity

2. Facilitates more positive sales experiences

3. Improves customer service levels

4. Reduces administration and maintenance times for online retail websites

5. Removes geographic barrier from consumers, allowing for national and international sales

Secure information

Making each transaction as secure as possible becomes a main selling point of any company trying to build credibility through a Web presence. Virtual merchant services become an ideal solution as they offer all the necessary security measures to protect and keep private each buyer’s payment information.

The end result becomes that the payment process is protected through secured-socket layering (SSL) encryption to prevent data interception during an order, and account information is stored in multi-tiered firewall protection.

Straightforward online ordering

The most important part of any online purchasing experience is the ease of the ordering process. Through the use of features like a shopping cart, purchasing all items in the cart and creating an account to remember purchasing information all contributes to customer retention. When a consumer chooses to buy their goods online, a typical order processing form will entail entering credit card and billing address information as well as a shipping address and shipping options.

Each of these functionalities is ultimately governed through virtual merchant software to ensure a seamless and painless experience. The software is often available in one of two formats, either hosted or in-house. As a hosted solution, the virtual merchant service maintains the payment portal and allows you to edit its look and essentially create your store on their servers and databases. As an in-house solution, you install the software onto your own website servers and integrate the merchant application into the existing website. Both offer inherent benefits from customization to reliable management, but it ultimately depends on a company’s overall needs.

Posted in Best Practices for Merchants, Credit card Processing, Credit Card Reader Terminal, Credit Card Security, e-commerce & m-commerce, Electronic Payments, Internet Payment Gateway, Mobile Point of Sale Tagged with: credit card processing, debit and credit card processing, digitally, e-commerce, hosted, low merchant account fees, merchant account, online retail websites, online transactions, payment gateway, payment process, per-transaction, processing payments, processing purchases, processor, secure, store, storefront, transaction, virtual merchant, virtual terminals, virtually, website

Cash Back Credit Cards vs. Store Credit Cards

If you want to make the most out of your shopping adventures, you need to have a credit card that helps you save money. The question is, which option is better for you? Some people automatically think about store credit cards, and others go for cash back credit cards. Before you apply for a card, assess which type of card would be more beneficial for your personal needs.

Cash Back Credit Cards

The main perk to having a cash back credit card is the fact that you can use it anywhere. It still acts as a traditional credit card. The only difference is that you get rewards from the money you spend on it. The average cash back credit card offers 1% cash back on all purchases. Some may also pay an additional 2% to 5% cash back on select purchases made with the card. Example, the Citi ThankYou Preferred Card offers 2 reward points per $1 spent on dining and entertainment. Blue Cash Everyday card from American Express offers 3% cash back at supermarkets, 2% cash back at gas stations and 1% on all other purchases. You could earn a great deal of your money if you choose the right cash back card and use it correctly.

The problem with cash back credit cards is that the rewards structure can sometimes be confusing. The Discover It Card features an attractive rewards program, but its 5% cash back offer changes every three months. It may be on home improvement purchases during one quarter, but during another quarter, it may be applicable on purchases at gas stations and for holiday shopping. You have to keep up with the rewards calendar to get the most out of your credit card. You also have to consider any fees associated with your credit card. Some cash back cards on the market have an annual fee, and many have a slightly higher interest rate than the average card. Review the terms of any card you are considering for so you can pick the perfect one for you.

 Store Credit Cards

Store credit cards are usually easy to apply for and just as easy to obtain. Some of them can be used like regular credit cards, and others have to be used at a specific store. For instance, the traditional Walmart credit card can only be used at Walmart, but the Walmart Discover card can be used anywhere Discover is accepted. You need to know this about your card before applying for it. Many people get a store credit card because they receive some type of introductory offer when they apply for one. You might be able to save 10-15% off your initial purchase, or you might get a certain amount of cash back after making your first purchase. These offers are designed to lure you into getting a card, even though you may never use it again. What you may not realize in the euphoria of the introductory offer is the very high interest rate you typically have on a store credit card.

When you start looking at store credit cards, consider what kind of rewards you can get and how those rewards are accumulated. Do they only come from purchases at that store, or do they come from any transaction? Are you required to use rewards in the store, or can you use them online? Does the card have an annual fee? You must go through this type of analysis before deciding if a store credit card is worth getting.

Are Cash Back Credit Cards Better Than Store Credit Cards?

In our opinion, yes. This isn’t because we’re biased towards cash back cards. We just like the idea that you can earn rewards wherever you make a transaction. You aren’t limited to one store, either in the way you spend money or the way you collect your rewards. In addition, store cards usually have a higher interest rate. With that said, there are people who benefit from store credit cards because they shop at those stores all the time. If you spend thousands of dollars a year at Lowe’s for your construction company, a Lowe’s credit card may provide substantial savings for your business.

Don’t get overly excited when you reach the checkout counter. That one-time savings on a store credit card may not be worth it in the end. Think over your shopping habits and see if a cash back credit card is more suited for your needs. If so, you have plenty of them to choose from.

Posted in Electronic Payments, Financial Services, Gift & Loyalty Card Processing, Visa MasterCard American Express Tagged with: %, accumulated, American Express, annual, assesses, average, beneficial, calendar, cash, cash back, checkout, credit cards, dining, Discover, earn, entertainment, fee, improvement, interest, lowe's, market, money, online, pay, points, preferred, purchases, quarter, rate, rewards, savings, shopping, store, traditional, transaction, walmart

VeriFone Increases Speed and Versatility of C-Store Management with New POS and Site Management Solutions

VeriFone Systems, announced today the availability of Commander Site Controller, the company’s next generation site management solution, and Ruby2 a touch-screen point of sale (POS) solution, both designed to provide greater efficiency, faster payment acceptance and new management capabilities that maximize profit potential for convenience store retailers.

Commander Site Controller is purpose-built for rugged c-store environments and combines site, payment and forecourt control in one device, creating additional flexibility in store configuration. Its future-proof system architecture includes expansion slots and ports for additional capacity and functionality. Additionally, Commander Site Controller features 100 percent IP communication for increased speed of EMV transactions.

Ruby2 is the next evolution of VeriFone’s Ruby POS platform, a 20-year leader in the petroleum industry. It features a fully-touchscreen console that increases checkout speed by providing fast and efficient order and payment processing, and a smaller footprint for increased counter space.      Ruby2 is compatible with the latest VeriFone product offerings, including customer engagement media solutions, site management software to efficiently manage multiple locations seamlessly, and the latest in fuel control management.

VeriFone is taking petroleum retail and c-store operations to new heights of efficiency and manageability. These next-generation systems build on the success of  Sapphire site controller and original Ruby POS systems with the ability to expand in order to meet customers’ future needs.

Commander Site Controller’s cloud based management software platform – Commander Console—enables owners to remotely and simultaneously complete PLU price changes, tax rate adjustments, fuel price changes and promotional updates in real time for multiple site locations from any web enabled device or mobile app for iOS and Android tablets and smartphones.

Ruby2 will be available this fall on certain networks while Commander Site Controller is available today on certain networks.

 

Posted in Credit card Processing, Electronic Payments, Mobile Point of Sale, Point of Sale Tagged with: acceptance, app, architecture, capabilities, capacity, command site controller, convenience, EMV, engagement, expansion, forecourt, iOS, management, mobile, networks, payment, plu, point of sale, POS, retailers, ruby 2, rugged, seemlessly, site, Smartphones, store, systems, touch-screen, touchscreen, transactions, verifone

All about (MOTO) Merchants and Internet (Card not Present) Merchant Accounts

(Moto) Mail Order/Telephone Order Merchant – In the realm of credit card processing is defined as a merchant who manually keys in over 50% of their transactions and an Internet Merchant is one who accepts transactions over the Internet via an E-Commerce store with an online gateway or who submits transactions manually through a Virtual Terminal.

Qualified Transaction Conditions (For MOTO/Internet merchants the Mid-Qualified Rate is essentially the Qualified rate as these merchants never swipe a credit card through a terminal.)

One electronic authorization request is made per transaction and the transaction date is equal to the shipping date. The authorization response data must also be included in the settled transaction.

Additional data (sales tax and customer code) is required in the settled transaction on all commercial (business) cards at non-Travel & Entertainment (T&E) locations.
The authorization request message must include Address Verification Service (AVS), which verifies the street address and the zip code of the card holder. NOTE: The only way this happens is if your software is set up to do this, or, if you are using a terminal, then if you capture the AVS information at the time of keying in your transaction.
The settled transaction amount must equal the authorized amount.
The settled transaction must include the business’s customer service telephone number, order number, and total authorized amount.
The transaction is electronically deposited (batch transmitted) on or 1 day after authorization date.
The transaction/shipping date must be within 7 calendar days of authorization date.

Non-Qualified Transaction Conditions
One or more of the Qualified or Partially Qualified conditions were not met.
Commercial Card without the additional data.
The transaction was not electronically authorized or the authorization response data was not included in the settled transaction.
The transaction was electronically deposited (batch transmitted) greater than 1 day from transaction/shipping/authorization date, or:
The VISA Infinite card was accepted.
Commercial Card Additional Data

MasterCard

Corporate Data Rate II (Purchasing cards): Sales Tax and customer Code (supplied by cardholder at point of sale) Corporate Data Rate II (Business and Corporate cards): Sales Tax International Corporate Purchasing Data Rate II: Sales Tax and Customer Code (supplied by cardholder at point of sale)

The following information must also be provided: Merchant’s Federal Tax ID; Merchant Incorporation Status; and Owner’s full name if the merchant is a sole proprietor.

Visa

Purchasing cards: Sales Tax and Customer Code (supplied by cardholder at point of sale) Corporate and Business cards: Sales Tax

Posted in Credit card Processing, e-commerce & m-commerce, Electronic Payments, Internet Payment Gateway, Mail Order Telephone Order Tagged with: address verification service, authorization, avs, batch, business, corporate, credit card processing, data, e-commerce, electronically, entertainment, fax order, gateway, internet, internet merchant, keying, mail order, moto, phone order, qualified, settle, store, telephone order, transactions, transmit, travel, virtual terminal