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In a time of advanced technology and rapid uptake of high-speed broadband, an increasing number of consumers are hopping online to look for products and services. Electronic commerce, or more commonly known as e-commerce has mushroomed since the late 90s. The advantages of e-commerce are numerous. Overheads tend to be much lower than brick and mortar stores plus the diminished geographical barriers translate to a larger pool of prospective customers. For example, Australian retailers looking to venture into the American market require a great amount of resources to research, plan and set up physical stores in the US. The inconvenience presented by time zone differences is largely minimised in e-commerce. Imagine the web as a virtual shopping mall that is open 24/7. An online business payments system is constructed to meet the requirements of virtual commerce and the needs of consumers and businesses. Bloeise.nl

Exciting trends in virtual commerce

Internet usage became fully mainstream by the end of 1999. Smart phones such as the IBM Simon were introduced to the market in 1993 and the latest models enable users to browse the web on the go. According to Reuters, about 25% of mobile users were shopping online with their smartphone in early 2011. In addition, eBay reports that an item is purchased from a mobile every 15 seconds which translates to a whopping 86,400 items sold per day.

The National Broadband Network (NBN) in Australia is one of the newest developments in the world of information technology. Boasting a predicted speed of 1GB/s, which is almost 1000 times quicker than what most ADSL broadband Internet subscribers are currently experiencing. A reliable and speedy Internet connection provides a sturdy and integrated platform for e-commerce by supporting the massive data downloads a business payments system and other features of an online shopping site need.

What should you look for in a business payments system?

Are you contemplating venturing into e-commerce? A business payments system that ticks the boxes of security, efficiency and cost-effectiveness facilitates your expansion plans online. Globalisation and uptake of the Internet have broken down numerous barriers, however this means that individuals and organisations need to choose a payment system with an experienced team from a stable country. A secure business payments system is really an asset that has the ability to foster growth and customer trust.

Retailers need a payment method that enables them to minimise wire transfer expenses so that these fees don't constitute a significant percentage of retailers' profits. A cost-effective payment method is particularly important for retailers collecting and making small to mid-sized payments. For example, eBay sellers who regularly collect small payments of $20 to $30 can benefit from a system that enables them to accrue funds within a designated account. They are able to return the funds home when the amount becomes financially feasible to warrant the wire transfer fees that banks typically charge. facebook marketing

Efficiency in receiving and making payments is vital for e-commerce. Being able to receive and send money speedily means that transactions are completed quickly. Being able to bypass different time zones is particularly beneficial for reaching out to customers in geographically distant countries.

Technocash is a licensed financial institution offering quality options in business payments. A Technocash retail account enables retailers to make numerous small, mid-sized to large international payments affordably