Setting up shop online when you have a good product, a niche market and an efficient ecommerce platform is so easy these days. But to stand out in a robust, crowded market and actually succeed is a different story.
A lot of folks may be visiting and browsing through your page (if you’re running a website) or your social media account (if you’re plying your wares through Instagram or Facebook) but are they clicking that “add to cart” button and parting with their hard-earned cash?
One of the many nuggets of wisdom I picked up from people who’ve been running an online business for several years now is that you have to make it ridiculously easy for possible customers to pay you.
In this day and age of instant gratification, people aren’t going to buy if they have to go through a time-consuming process that will delay their purchase, no matter how fantastic or life-changing your product is!
Most online sellers provide several payment options that include the traditional methods: money transfers through banks and remittance centers for conventional, old-fashioned customers; and the digital wallet, GCash for the more tech-forward patrons.
So, having a convenient payment system is essential if you want your online business to succeed.
With GCash, payments are sent from the customer’s GCash account to the seller’s account at the speed of a text message by just keying in the seller’s mobile phone number. It’s so convenient and easy for everyone because payments are sent real-time, which allows sellers to verify purchases at once. This makes transactions faster and more reliable, translating to higher conversion and sales.
Providing a digital payment option has a lot of benefits to online sellers and business owners in terms of convenience, speed and security. Digital wallets like GCash minimize instances of shopping cart abandonment because they enable shoppers to make quick payments without having to leave the page or website.
Transactions with mobile wallets are also highly secure against identity theft and fraud because customers don’t need to provide credit or debit card numbers, and other financial information to make online purchases.
Indeed, GCash has made a real difference for home-based entrepreneurs.