Home > Features > Maximizing Profitability on Global Traffic • Bookmark   • Newsletters   • Register Search Options

FEATURE

Maximizing Profitability on Global Traffic

Maximizing Profitability on Global Traffic

December 2, 2013
Text size: 
View in Digital Mag
Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
  39.66%
Yes, but in a few years
  36.87%
No
  23.46%
Out of 179 votes. Results based on votes submitted by members of XBIZ.net social network.

" Whether they happen to be buying from Chicago, Germany, Ireland or anywhere else, being able to accept their payment in whatever form suits them best is the fastest and easiest way to raise your profitability across the board. "

As emerging markets continue to gain momentum and an increasingly large percentage of sales come from people using payment methods other than credit cards, companies interested in maximizing their profit potential are becoming acutely aware of the importance that needs to be placed on monetizing products and services globally.

A variety of payment options exist and consumers are choosing non-credit card forms of payment for many reasons. Some do not have access to traditional credit cards, and many prefer the speed and simplicity of popular mobile payment options like Qooqo.com even when they do have credit cards available. Others wish to avoid the bitter aftertaste that some credit card payment recurring billing schemes have caused. Obviously, it’s a good idea to offer more than one payment option for your potential customers, but what matters most is making sure those options include an effective payment choice for each market you want to monetize.

For example, credit card usage has some level of acceptance all over the word, but with less than 25 percent of the consumer population in Germany using credit cards to make purchases online, you simply can’t afford to make that the only payment choice available if you wish to be successful in that region. PAY4 offers the processing services needed to unlock European markets, and even more importantly, we have extensive expertise that we pass on to our clients who want to make their sites and payment pages more effective when reached by European customers. Rather that the 25 percent coverage of credit cards, solutions like SEPA Direct Debit covers all of Europe, and while strictly American consumers may not be familiar with it, customers in all 33 countries of Europe are ready to buy things from you with SEPA Direct Debit right now — if you are willing to give them the opportunity to pay you with it.

Innovative processing solutions can also provide important value in other ways. The specific payment options that are the most likely to add value to your particular site vary depending on the specific business model and approach you take. However, as an example, PAY4’s SEPA eMandate solution is terrific for merchants looking to reduce junk orders and avoid fake data at the point of sale because it couples online bank transfer payments with SEPA Direct Debit payments to secure the initial payment while running recurring billing only on valid accounts without all the fake data and fraudulent chargebacks scamming shoppers have made commonplace with credit cards recently. This kind of protection can have a dramatic impact on your profitability and peace of mind.

Even among experienced site owners, one cause of hesitation seems to be the mistaken belief that implementing global payment methods will be unduly complicated. In fact, all of the payment options provided by PAY4 can be integrated into any site by any webmaster with even a very basic understanding of simple HTML. The complex part of processing happens externally from your site so the integration is a very simple matter of turning on payment options or adding them to your existing cascade.

There are many reputable processing companies on the market and each has its own strengths and weaknesses. Choosing the billing partner that fits your needs best is something that often comes to do interpersonal rather than technical differentiations. Finding an innovative company to work with that answers your questions in a timely manner, provides direct contact with skilled professional support, had a long established reputation in the industry and works to maximize your revenue is an essential part of succeeding in any modern online business. Having the best content and the most traffic are crucial aspects of turning a profit, but at the end of the day they won’t amount to much if the customer you brought to the point of sale is unable to complete their transaction. Whether they happen to be buying from Chicago, Germany, Ireland or anywhere else, being able to accept their payment in whatever form suits them best is the fastest and easiest way to raise your profitability across the board.


LEGAL PERSPECTIVES

The Skinny on the New DMCA Requirement

The requirements under the Digital Millennium Copyright Act (DMCA) have changed, but the sky is not falling. We have, even as a law firm, been hit with an unbelievable amount of spam sent out by law firms... More »

2017 Outlook: Legal Matters Around the Corner

The adult entertainment business’ legal community recently weighed in the top issues that companies and the industry, as a whole, should be concerned about. XBIZ asked industry attorneys to discuss... More »

Fraudulent Brazilian Trademark Registrations Running Rampant

Although you might not think often about protecting your trademark rights in Brazil, you need to — even if you don’t yet have a single Brazilian customer. Scammers are constantly looking for... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.

UPCOMING EVENTS

The European Summit

Mar 04 - Mar 07
Barcelona-Sitges, Spain

The TEA Show

Mar 05 - Mar 06
Hollywood, CA

Phoenix Forum 2017

Mar 23 - Mar 26
Tempe, Arizona

EXXXOTICA Denver

Mar 31 - Apr 02
Denver, CO.
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!