Digital paymentsPCI-DSS

5 reasons to ENABLE digital payments for you store

By November 23, 2017 No Comments
PCI-DSS Compliance and Digital Payments

If you are still trying to capture clients the old-fashioned way, you might be missing out on some great opportunities. We give you 5 reasons to explore the online world, and enable digital payments for your customers.

Technology is evolving

Times are changing; and they are changing fast. Can you believe that it was only 12 years ago when we were still using videotapes to watch movies? I didn’t even had the time to fully explore the evolution of a music tape to a compact disc, and from a compact disc to an mp3 player. In my childhood, I only had a discman for a couple of years before changing it to these tiny devices that allow you to directly upload music without inserting a disc or a cassette.

Technology is travelling at a mind-boggling speed, and we have to constantly keep up with it, or else we risk being left out. However, despite the strong global adoption of digital payments and services, there are many companies that still count entirely on their physical establishments to capture clients.

5 reasons for enabling digital payments for your store

If your company is still operating purely offline, you might need to consider adopting a digital strategy in order to reach a much bigger share of potential clients.

Don’t panic: going digital doesn’t mean closing out your physical establishments, and forgetting about in-store purchases. On the contrary; a strategy that includes both offline and online payments has proved to be the winning one, so make sure that you are covering both possibilities to reach all your current and potential clients.

So, if you are looking for a way to complement your physical store and boost your sales, keep on reading and we will share with you the reasons to open your brand to plenty of new opportunities.

1. Online shopping for non-grocery items is surpassing in-store purchases

According to Fox Business, for the first time ever online shopping is surpassing in-store purchases for non-grocery items. The evolution of mobile and desktop devices has provided an incredible convenience for people, and it is not a surprise that shopping online is becoming the preferred way for buying products.

With the shopping trend clearly leaning towards online purchases, companies that still don’t have a digital platform to sell their products online are missing out on a great opportunity. In 2016, an estimated 1.61 billion people worldwide bought an item via their desktop or mobile device at least once, and these numbers seem to be growing. By 2021, over 2.41 billion people are expected to purchase goods and services digitally.

2. Greater international reach

Going digital and enabling online shopping for your clients significantly expands your reach of potential ones. It not only means that more people will be able to buy your products and services from the comfort of their own home, but you will have an international scope as well.

By providing the convenience to purchase goods without having to visit the physical store, people who don’t have access to your stores will be able to purchase as well. From all over the world. Which will result in more sales!

3. Security

In-store purchases are not necessarily more secure than their online alternative. In fact, digital payment providers are so concerned with eliminating any risk associated with data breaches and identity theft, that online payments have become even more secure than offline ones.

By enabling digital payments for your store with a trustworthy provider, you will be able to undertake all the necessary security measures to protect credit card data. Solutions such as PCI-DSS compliance, SSL protocols, encryption and tokenization provide a safe environment for your clients, and make them trust your company.

Additionally, you have a better control over possible data breaches and theft, which translates in fewer losses, and improved customer satisfaction. If you want to read more on the safety measures that companies undertake to protect data, click here.

4. Join the $2.290 trillion e-commerce industry

The e-commerce industry is facing an immense growth, and there is no doubt that it has a huge potential to generate sale opportunities both for B2B and B2C companies.

According to the annual growth projections from Statista, the retail e-commerce sales will only keep growing for the next 4 years.

With these growth projections, enabling digital payments will put you one step ahead of competitors, and will increase your overall customer satisfaction, resulting in more sales.

5. Digital presence will boost your in-store purchases

In the last few years, we have been observing an interesting shopping trend phenomenon called ROPO, or Research Online Purchase Offline.

It refers to a purchasing behavior in which the customers go online to do their research and identify their products of interest, and then go to the physical store to buy them. According to AdWeek, 81% of the buyers start their buying decision process on the Internet before going to the store – meaning that just the fact that you are present online will have a positive impact on your in-store purchases.

If you are ready to go digital and enable online purchases, you will definitely need a payment solutions provider. Luckily, we’ve got your back! MYMOID is a fully digital and 100% secure payment platform that provides you the complete set of innovative solutions you will need to get started. Contact us here for more information!

We also recommend you the following readings for additional information:

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