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 … Read more

What is an internet payment gateway and how does it work?

Payment gateways give ecommerce merchants the ability to process payments online. The payment gateway connects the merchant’s online shopping cart to the payment processor. This allows for transaction authorization and the transfer of funds from the customer to the merchant’s acquiring bank.

How do I choose the right payment gateway?

When implementing an internet payment gateway, consider the following:

Features

Many gateways provide features that improve both customer and merchant experience by increasing the speed, security and efficiency of transactions. VersaPay offers several gateway solutions with features to meet your specific business needs.

Reliability

Merchants who process their transactions with a reliable gateway provider can offer customers an improved online shopping experience. Make more sales by offering a payment service that runs 24/7.

Compatibility

Will your payment gateway be compatible with your shopping cart? VersaPay offers solutions that are compatible with nearly any online shopping cart solution.

Cost

As you set up your internet payment gateway, expect to pay for:

• Set-up costs associated with implementation.
• Monthly service payments.
• Transaction fees.

Additional expenses may occur if your current provider’s gateway is not compatible with your shopping cart. VersaPay’s credit card payment gateway offers seamless integration with nearly any online shopping cart solution while providing competitive prices.

Location

If you are a Canadian merchant, it is advantageous to choose a Canadian payment gateway. While ecommerce removes geographic borders, there are distinct advantages to working with a payment gateway provider who … Read more

Good business is built on trust. When selling goods and services online, a high level of security is key to building customer trust. Here are several ways that you can increase online store security and build customer confidence.

Write and post your security policy

First, draft a transparent security policy that outlines the steps you take to protect customer information. Next, post this security policy in a prominent place on your ecommerce website.

There are several benefits of writing and posting your security policy:

• Build trust by demonstrating your commitment to protecting customer information.
• Save time by having a policy that you can refer to when questions arise.
• Achieve due diligence by having a security policy in place.

Guarantee your goods and services

Provide a customer-friendly warranty and return policy. Guaranteeing your products or services increases credibility and demonstrates your approach to customer care.

Having guarantees and warranties improves customer experience and increases the chance of sales and referrals.

Encrypt your information

An important way of increasing security is to use Secure Socket Layer (SSL) encryption. SSL encryption is an ecommerce standard, and most customers won’t provide financial information without it.

The SSL protocol encrypts information by translating financial information into a code that only your online store can decipher. A small lock in the browser window indicates the presence of SSL protocol. Another indicator of SSL is a URL that begins with https:// instead of http://. These indicators provide customers with a sense of security when shopping at your … Read more