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Beginners' Guide to E-Commerce
By:June Campbell
Introduction
Accepting Credit Card Transactions
Merchant Accounts
About Chargebacks
High Risk Processors
Internet Merchant
Account
Credit Card Processing
Services
Setting Up: The Technology
Shopping Carts
Ecommerce: The Dark Side
Credit Card Fraud
Internet Shoplifting
Piracy
Tips for Protecting
Yourself Against Online Credit Card Fraud
Alternative Ecommerce Methods
Telephone Billing
Services
Electronic Payment
Systems
Person to Person Technologies
(P2P)
One Stop Shops
International Merchants
Definitions
Beyond Ecommerce
Introduction
You have something you want to sell on the Internet. Maybe it's
a book, or a CD or
a piece of software you wrote. You are in luck. The time has never
been better.
Internet shopping has become a mainstream activity. Increasing numbers
of people
are willing to open the wallet to purchase items or services over
the Net.
"But," you say, "How do I collect the money from
the customer?"
Good question. There are several methods of collecting monies from
online sales.
Many online merchants offer 2-3 choices of payment methods so customers
will
have options.
1. First, you can ask online customers to send
you a check. When the check
arrives and clears the bank, you deliver the product. If this is
your only method of
transacting a sale, you will lose many, many customers. The Internet
is based on
impulse buying. Very few people will go to effort of writing and
mailing a check,
and then wait several weeks for delivery. Most merchants offer this
option to
accommodate people who do not have credit cards.
2. Persons who are already accepting credit card
transactions for products or
services they sell offline can ask web customers to phone or fax
you with their
credit card information. Then, you can process the transaction manually.
Please
avoid asking people to email you their credit card information.
Almost everyone
knows that email is insecure and this request will damage your credibility
in the
eyes of potential customers. If you opt for the phone method, be
prepared to handle
calls 24/7. The Internet is a global community and people expect
to shop at their
convenience.
You will attract more sales if you provide an 800 number. However,
be aware that
800 numbers are not globally accessible. You risk losing international
sales if this is
your only method of transacting payments.
Asking customers to phone in their credit information will generate
more sales than
asking for checks. However, your sales will be increase considerably
if you provide
a means for customers to make their payments online.
3. You can accept credit card transactions online
over secure lines.
Internet merchants indicate that this method is the single most
effective means of
conducting transactions. Without the ability to process credit cards,
your online
sales will be a fraction of what they could be. More about this
later.
4. You can use alternative methods of accepting
online payment. There are
several alternative technologies available. Each comes with its
own strengths and
weaknesses. Your choice will depend upon your individual situation.
More later.
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