April 22, 2010

What is ecommerce?

Electronic commerce, or ecommerce, is the exchange of goods and services on the internet. Over the last few years, millions of sellers and buyers have entered the electronic marketplace. Currently, billions of dollars in transactions occur every year online. Ecommerce is expected to grow exponentially over the coming years.

Ecommerce provides a platform for business-to-business and business-to-customer transactions.

Business-to-customer transactions

A business-to-customer (B2C) transaction occurs when a business sells goods or service to a customer. Performing online B2C transactions is also known as etailing, which is the internet equivalent of retailing in the bricks and mortar world. Etailing enables businesses to sell their products and services directly to customers over the internet.

VersaPay offers several products to facilitate B2C transactions.

Instant online web stores

VersaPay is proud to partner with Shopify to provide a simple way for merchants to sell goods online. With Shopify, you can set up an online store in minutes. All you need is an ecommerce merchant account. Contact us for a rate quote to get started today.

Hosted checkout

If you have an online store and need a checkout system, Versapay provides hosted checkout solutions. We take care of the SSL-encrypted secure order page. The hosted checkout integrates with your website or online store and allows you to accept online payments. We take care of the PCI compliance and encryption so you can concentrate on your business.

Credit card payment gateway

If you’ve already built an online store and checkout system and simply need a means of facilitating online transactions, working with VersaPay provides a safe and reliable payment gateway. The gateway is SSL encrypted, so you don’t have to worry about the security of your online transactions. Further, VersaPay can integrate with almost any shopping cart on the market. Our fully customizable solutions mean that you can process transactions without your customers ever leaving your branded pages.

Business-to-business transactions

Business-to-business (B2B) commerce occurs when one business sells goods or services to another. B2B transactions can involve one business performing transactions with one—or thousands—of customers and suppliers online.

Ecommerce can be a great solution for new businesses looking for a sales platform, or for new businesses seeking to expand market share. If you have questions about how to leverage online transactions in your business, speak with a VersaPay relationship manager today.