In 1979, Michael Aldrich invented online shopping by connecting a modified TV to a phone line. Later, in 2003, Amazon finally became profitable even though it was launched in 1995. Now, according to stats from Forrester Research, consumers will spend a staggering $327 billion online by 2016. In order to keep up with the evolution and growth of the digital marketplaces, businesses need to be able to accept credit card payments online. Without doing so, they might find that they are unable to reach as many customers and possible and find achieving success to be quite difficult. So taking the time to research and find credit card processing solutions is an important task for every business owners.
The number of different items that people will buy online is virtually limitless. While many choose to do all of their clothes shopping there, others will buy music and DVDs or even bigger items like cars online. But no regardless of what specifically is being bought, online payments depend on debit and credit cards. The days of sending a check in the mail are all but completely done, and using plastic to make online purchases greatly speeds up the shopping process. Consequently, any business looking to provide the best buying experience will have to find a way to accept credit card payments online if they don’t already.
One thing owners will have to consider when making the transition or upgrading their payment processing systems is that, in the future, mobile shopping is going to become even more popular. During the next few years, according to projections for Gartner and Juniper Research, online shopping should explode. By 2016, some 48 million people will be making mobile payments. In order to take advantage of that, business owners should invest in systems that cater to mobile shoppers right now to make sure they can accommodate every shopper both now and in the future.
Every year, the average American consumer spends between $1,200 and $1,300 online. By 2016, that number could jump all the way to around $1,700. Businesses who don’t want to get left behind by the growing number of online spenders will have to be able to accept credit card payments online easily and accurately. Gone are the days of cash-only retailers and taking a check, and owners who want to thrive will have to accept modern payment methods.