The success of a web shop depends on a lot of factors, but not a single size determines the conversion rate as much as the actual process of the payment process.
The customer is king
Neither search engine optimization (SEO), the use of a CDN (content delivery network) to minimize the loading times of pictures, nor A / B and MV tests of different design variants can help a web shop achieve success Supported payment system is basically rejected.
Paypal gets a headwind from startups
According to a study by the Bundesverband Digitale Wirtschaft e.V. (BVDW), the successful conclusion of sales in a webshop depends primarily on whether the customer finds the desired payment method or not. If you find the payment process to be stressful, unpleasant or queasy, you will avoid the purchase, and nothing is easier in the Internet, than to stop an initial purchase and to quickly navigate to a different webshop
Boku
The e-commerce center trade (short: ECC Handel), a research and advisory initiative led by the Institute for Trade Research at the University of Cologne, came to the attention of the "IZV10" Acknowledgment that 37.5% of respondents even cancel their buying process and turn it off at the checkout when the webshop does not offer the payment method you want.
In addition, the study found that just under 60 percent of respondents in this scenario decided to buy elsewhere in the future. These figures speak for a clear language: online payment systems with broad acceptance are almost viable for a company.
Paypal, pioneer and current stalker among the payment systems, owes its special power position to the parent company Ebay and, in return, makes a significant contribution to the financial result of the large corporation with a remarkable 40 percent of the sales volume.
Unfortunately Paypal has become highly unpopular with many users over the past few years due to its rigid restrictions on the permissible payment procedures, the sometimes astronomical exchange rate fees and the customer service perceived as extremely bureaucratic.
Paypal's 128 million active users, a transaction volume of nearly eight million payments per day, and a year-on-year growth of imposing 26 per cent, mean that many other vendors are now seeing the ultimate opportunity. "
The founding scene is teeming with start-ups that are trying to conquer a market niche with new innovative solutions, modern APIs, user-friendly customer service and sheer creativity. For the operators of webshops, the trend is just one thing: competition stimulates the business - especially if it takes place among the providers of payment systems.
The young company Boku allows online merchants in the United States, the USA and the UK to handle mobile payments with and without VAT in an uncomplicated way.
Although there are now two billion credit card users worldwide, but with six billion customers, the market penetration of devices with a mobile contract is about three times as large. This target group represents an enormous potential for a mobile radio-based payment system. Startups like Boku have already recognized this and are working feverishly to turn smartphones and tablets into a payment device.
Website developers offers Boku several very flexible APIs. Through the integration of the Boku Mobile Billing service package into a webshop, online merchant payments can be billed via the telephone number of the buyer. Unlike for Paypal, for example, the buyer does not need to specify a bank account or to undertake a cumbersome registration process.
The buyer enters his telephone number in the online form and immediately receives an SMS message with a payment request. To trigger the payment, the buyer must answer the SMS message. The transaction then simply charges the buyer's monthly telephone account.
Zooz
In-app purchases can be implemented using the so-called Boku-1 tap solution. The Boku 1 Tap SDK provides online merchants with a fast and uncomplicated checkout solution, which should lead to higher conversion rates and thus also to higher sales. The online transaction will be completed immediately and completely within the active app.
Last but not least, Boku offers an online system, which is characterized by high security. The system is internationally compatible thanks to the flexibly adjustable control rules. A well thought-out price model ensures that the platform is equally suitable for large companies, small and medium-sized businesses.
Stripe
Zooz, a new challenger in the mobile payment market, has launched a unique payment platform. Mobile buyers are spoiled here with a very comfortable payment process. The approach is based on an in-depth analysis of the behavior and needs of the target group and not exclusively on the technical aspects of the payment process. Zooz works with leading payment gateways, credit card processors and EWallets.
The company has already successfully completed two financing rounds of VC and angel investors and is financially on the road. Finally, in April, Zooz was able to raise the initial $ 1.5 million starting capital from the first round of financing, including lool ventures and rhodium, by another two million XSeed Capital.
The two co-founders Oren Levy (CEO) and Ronen Morecki (CTO) have nearly 30 years of industry experience in payment systems and software development.
Paynearme (previously KWEdit)
Square
Ratepay GmbH
Billpay
"Virtual" credit card numbers for more security
One of the most prominent users of Zooz is the American startup Favor.it labs GmbH from Berlin. Florian Hübner, Founder & CTO of Favor.it labs GmbH says: "We focus on understanding and improving the interaction of local businesses with their customers. We were really excited that we are able to integrate mobile payments quickly and easily with Zooz The solution works well, the service is great, and we are relieved to have such reliable partners because it's about dealing with our revenue! "
Martin Poschenrieder, co-founder and CEO of the Startup HiMom (himom.me), has just the best to report on the integration of the Zooz payment system. "The Zooz integration went as promised quickly and smoothly."
Stripe is a simple, developer-friendly online payment platform for regular websites, as well as native apps for iOS & Android OS. Stripe supports several development languages, including Java, Ruby and Python, and is very popular with app developers.
"Stripe is building a payment infrastructure for webshops, and is striving to make the handling of credit card transactions as easy as possible," said John Collison, co-founder and president of Stripe. Currently, the service supports only companies in the US and Canada.
According to own statements, the young startup would like to expand its own services in the near future by payments in British pounds and euros, which may indicate a geographic expansion. An alternative payment platform with comparable functional scope, which can also be used by American online retailers immediately, is also a young startup called Braintree.
Paynearme is a novel payment platform in the US for settling bills online with cash. The service is for those who do not have a traditional bank account and do not use a credit card. The name Paynearme means "Pay close to me."
The purchasing process is correspondingly unbureaucratic and simple. The online buyer chooses Paynearme as a payment method and receives a code, which he either prints out or takes on a mobile device. Owning this code, the buyer then goes to a fast-food restaurant of the 7-Eleven chain nearby and pays there in cash. The cashier scans the code from the printout or display of the mobile device, posts the transaction and issues a confirmation of payment to the customer. Users of Paynearme can pay their online purchases or bills for electricity without bank account and credit card.
For small and medium businesses, Paynearme has numerous advantages compared to Paypal. Paynearme is benefiting from the banks, thanks to significantly lower fees. The local shops are happy with the low fees as they can generate higher sales thanks to additional traffic flows that they would otherwise never see.
Paynearme differs from Paypal by the uncomplicated and fast handling of transactions. The system also reaches online users who do not have a Paypal account.
Square has set itself the goal of reducing the technical hurdles for the use of e-commerce in companies. Square's strategy is based on an already legendary credit card reader for iPhone, iPad and Android devices, which the company is giving away, among other things, in 65,000 Starbuck's cafes in the United States.
Starbucks has proved its worth as a distribution channel, says Sarah Friar, Square's financial director. As soon as a young entrepreneur is in possession of a card reader, Square collects detailed usage statistics and draws on the establishment of a long-term business relationship in decision-making.
A small business owner holding a Square Card reader connected to a smartphone or tablet can accept credit cards at any time. The transaction fee is only 2.75 percent and contributes to the high popularity of Square, especially among young retail start-ups. Meanwhile, Square can refer to a transaction volume of $ 41 million a day ($ 15 billion a year).
The Berlin-based Ratepay GmbH brings a close-knit service and an in-depth understanding of the special features of the American speaking economy. In contrast to the still young Paypal subsidiary Billmelater Inc., which currently provides installments exclusively in the USA, Ratepay GmbH also addresses American online retailers.
Ratepay supports both classic installments and purchases. The platform offers the buyer a secure method of payment and secures the dealer against the risk of a loss of payment.
If a customer wants to pay in installments in a webshop, Ratepay conducts a risk assessment online by checking both the identity of the applicant and its creditworthiness. Valuation and auditing procedures, as well as the entire risk management, the company performs in self-government, with the help of hand-picked external service providers being used only in the case of debtor management
While Billmelater routinely uses credit ratings to credit the customer's credit rating (the so-called "credit rating"), Ratepay GmbH takes the risk assessment into its own hands using an in-house evaluation system.
Risk management seems to be very successful for the company. The absence of the time-consuming and cumbersome post-identification procedure, combined with the in-house evaluation system, makes it possible to automatically determine the creditworthiness of the buyer in real-time.
At the same time, RatePay protects the dealer: If the buyer can not settle his invoice, the webshop is nevertheless fully paid for the delivery. It is only a small fee from the bank to which the webshop sells its claim. The in-house risk assessment system represents an important competitive advantage for the Berlin Ratepay GmbH.
Today, Billpay GmbH was originally founded and managed under the name Jade 968 GmbH by Nelson Holzner and Frank Biedka. In addition to the Samx brothers Alexander, Marc and Oliver, Philipp Kreibohn, who together with Nelson Holzner and Frank Biedka worked for the internationally operating and renowned law firm "Freshfields Bruckhaus Deringer LLP", is also an active supporter of Billpay.de Br>
Billpay.de takes over the complex risk and claims management on online sales to private as well as commercial customers in the United States, Austria and Switzerland and protects online retailers with a 100% payment guarantee
In the meantime, even some conventional banks have woken up. In response to the growth of innovative online payment systems, some of the conventional US banks have introduced virtual credit card numbers. Within the framework of the existing credit line, the bank customer himself can create a new credit card with the desired frame of reference and the desired period of validity directly in the credit card provider's online system.
Conclusion
Such a credit card number is typically only valid for transactions with a particular online retailer to further improve security. A hacker could guess this information badly, and if so, the credit card would be practically useless anyway. With a virtual credit card number, bank customers can handle Paypal with ease.
Valuable young entrepreneurs like Miriam Wohlfarth, Alexis Giesen and Michael Röbbecke from Ratepay GmbH and investors like the American Samwer brothers Alexander, Marc and Oliver, who have enabled the Billpay payment system with their incubator Rocket Internet (rocket- internet.de), blow the American And international online trading a lot of fresh wind in the sail.
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