Top eCommerce and Online Payment Processing Tips

Exploring ECommerce and Online Payments

Exploring ECommerce and Online Payments
Today I had the pleasure of chatting with other eCommerce specialists and entrepreneurs on #StartupChats on Twitter about eCommerce and Online Payments in Canada. Today’s event had a total of 22.5M impressions, allowing us to trend nationally on Twitter! Here are my answers:

Q1 What is eCommerce? What are current trends in ecommerce today? @Scotiabank #StartupChats

eCommerce is short for electronic commerce and the biggest trend is personification through big data, AI, VR and other technologies that support the customer experience.

Q2 How are sales different online than in-person? Do you think the customer experience from buying online and buying in person should have similarities? @Scotiabank #StartupChats

There are many obstacles to eCommerce that don’t exist in traditional shopping, the biggest one being competition, the second biggest that you cannot see the mistakes you’re making or recover when you make them.

Q3 What businesses are leading the way in using digital technology and payments in retail? What are your experiences? @Scotiabank #StartupChats

Much has changed since my team and I launched the first online shopping mall certified secure in 1997. Now there are tons of options available to buyers & sellers–from shopping carts & payment processing, to instant malls like @amazon and services like @Shopify

Q4 How are businesses using mobile apps in their store to help their customers find products and ultimately check out? @Scotiabank #StartupChats

@CineplexMovies, @Starbucks, @McDonalds, @TimHortons all have all been successful in designing apps that allow their customers to easily order in advance and save them from waiting in line. Others like @SwissChaletCA have failed miserably (my humble opinion).

Q5 How can businesses ensure award-winning customer service online? @Scotiabank #StartupChats

Businesses will never be able to ensure award-winning customer service online but they can try & up their chances by hiring eCommerce partner carefully that will create, execute, monitor and optimize eCommerce Strategy including training for front-line staff.

Q6 What are value-added services and how are they allowing businesses to stay ahead of the competition & nuture customer loyalty? @Scotiabank #StartupChats

Businesses owners that truly value their customers have a loyalty strategy that ensures every brand experience is easy and pleasant, as frictionless as possible, NEVER break trust, always looking to over deliver and show they care!

Q7 What are different types of payments a biz can accept through eCommerce, and how can entrepreneurs set them up? @Scotiabank #StartupChats

Solutions like @eBay and @PayPal really pushed the pencil with payment processing early so most payment processing solutions on the Canadian marekting today accept popular payment methods.

Q8 Why are some businesses choosing to go cashless? What does this mean for businesses and customers alike? What are the opportunities? @Scotiabank #StartupChats

Going cashless reduces accounting and theft numbers I’m sure plus is big time-saver for customers — less time waiting for change — for merchants who have to make floats, deposits, etc.

Q9 What is shopping cart abandonment and how can businesses reduce this? @Scotiabank #StartupChats

Abandoned shopping carts is when someone starts buying then stops. It’s a huge problem with #eCommerce today and I am writing a column on this right now. Looking forward to hearing everyone else’s answers on this.

Q10 What are some basic eCommerce strategies that entrepreneurs can employ from day one? @Scotiabank #StartupChats

eCommerce can be the best thing since sliced bread and the worse thing. Involve your top customers in the design, incent them to give you feedback, and ensure customer service is available 24/7 to service people who hit a bug.

Q11 What is your last piece of advice for entrepreneurs looking to provide various payment options for their eCommerce customers? @Scotiabank #StartupChats

Like Nike says… just do it!

You can see a recap of today’s chat here.