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BizReport : Ecommerce archives : November 26, 2010

Cyber Monday is nearly here. Is your checkout ready?

Thanksgiving has come and gone, we're in the midst of Black Friday and Cyber Monday is right around the corner. Yet many merchants aren't ready for the holiday rush. The problem? Transaction issues. Research shows that in 2009 online merchants lost about $44 billion in sales because of transaction issues. The key? Customized payment pages.

by Kristina Knight

Adyen is one solution which helps merchants customize payment pages according to customer location so that many international transaction issues are curtailed before they become a problem. The platform also offers real-time analytics to help merchants recognize fraud and keep fraudsters from harming their company.

"Our platform has been designed to give merchants a fully flexible and transparent solution to structure the checkout process, exactly the way they wish to present it," said Peter Caparso, North American President, Adyen. "The approach relies on sharing thoughts and experience with clients. In the United States, credit cards are the payment of choice. However once one steps outside the footprint of North America, the accepted means of payment differs from country to country."

The first step, then, is localizing payments by offering easier payment solutions dependant on locale. This should result in lower levels of refused payments, lower service charges (for merchants) on credit card payments and higher acceptance rates for domestic-use-only cards.

"Most merchants don't have the time to research all the foreign market e-commerce payment costs and accepted payment methods. Also, very few providers in the market offer a true global solution via a single connection."

Another idea: when translating actual product copy for international use, translate the cost of items based on different currency.

"The more local content you can offer through your service significantly raises the probability of increased conversion rates," said Caparso. "Localizing the content on the page is a start but other factors need to be taken into consideration: Are you offering the right methods of payment? Are you making the web site purchasing experience as succinct as possible? Do you have the right systems in place to support the payment frequency options you with to offer (i.e. one-off or subscription models)?"

Tags: 2010 holiday shopping, Adyen, ecommerce, landing pages, online merchants, Peter Caparso, product information

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