Bm2Pay - ecommerce https://www.bm2pay.com Unlimited Payments Solutions Sun, 25 Aug 2019 06:47:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.4 https://www.bm2pay.com/wp-content/uploads/2024/11/cropped-bm2pay-1-32x32.jpeg Bm2Pay - ecommerce https://www.bm2pay.com 32 32 Start the Countdown for Your 2019/2020 Holiday Season Campaign https://www.bm2pay.com/2019/08/26/start-the-countdown-for-your-2019-2020-holiday-season-campaign/ https://www.bm2pay.com/2019/08/26/start-the-countdown-for-your-2019-2020-holiday-season-campaign/#respond Mon, 26 Aug 2019 05:00:12 +0000 https://www.bm2pay.com/?p=3619 Yes, it’s still hot and sticky in many places, but it’s already time to start planning your marketing strategy for the 2019/2020 winter holiday season. How can you plan an e-commerce campaign that will make you stand out and attract both new and veteran shoppers to your brand?  Review last year’s campaign and check out the competition  Take a good look at last year’s marketing activities and analyze which were the most successful techniques. Did your email campaign bring in new interest? Which social media platform was most successful? Were buyers responsive to special offers and coupons? A good way to get innovative ideas is to check out your competitors. What did they offer last year? Did they come up with special strategies to arouse increased interest in their brand?  Time your campaign carefully First you must determine the basic concept of your campaign. Think about your message and what you are trying to achieve. Then go into the timing, such as the dates when certain products will be promoted, as well as which social media platform you will be using and when (including Instagram, Pinterest, YouTube videos, Facebook, etc). Consider whether you want to add influencers and/or giveaways and contests to the mix. Determine when it is best to add seasonal Google Ad campaigns. Start posting teasers as early as September and plan your posts carefully so that you build up anticipation and lead gradually up to your special surprises as the holidays grow nearer.  Add one-time offers and surprise elements When holding a contest, offer super prizes like a candlelit dinner for two, a romantic couple’s spa day, or bungee jumping for those who love competitive sports, depending on the age and entertainment preferences of your target audience. Create a “mystery box” that includes a random selection of your most popular products worth more than the price you are charging.  Spoil your loyalty club members by offering a grand giveaway right before the holidays in addition to seasonal discounts and special, one-time offers. Create a sense of expectation and excitement to keep your audience riveted. Use personalized content, creative videos and exciting pictures Buyers are not interested in reading lengthy, general content. In order to engage customers you must deliver customized messages that prove your brand’s interest in them as well as providing a solution to their personal problem.  Make a range of innovative videos, from “how tos” to new product showcasing, to customer testimonials. Create a series of clever Instagram stories and upload a variety of exciting pictures to pique curiosity and interest. Come up with a creative holiday theme such as nostalgia, new year resolutions, lifestyle changes, social responsibility or collections. Build on them to create a productive, long-term bond with prospective customers. Think outside-of-the-box Don’t be afraid to let your imagination go a bit wild when it comes to holiday campaigns. To snag weary consumers’ interest, you need to stand out. Try some exciting new stuff related to unique content, humor, surprises and prizes, and see how it all goes down. May the force be with you! Image courtesy of kjpargeter  

The post Start the Countdown for Your 2019/2020 Holiday Season Campaign first appeared on Bm2Pay.]]> Yes, it’s still hot and sticky in many places, but it’s already time to start planning your marketing strategy for the 2019/2020 winter holiday season.

How can you plan an e-commerce campaign that will make you stand out and attract both new and veteran shoppers to your brand? 

Review last year’s campaign and check out the competition 

Take a good look at last year’s marketing activities and analyze which were the most successful techniques. Did your email campaign bring in new interest? Which social media platform was most successful? Were buyers responsive to special offers and coupons?

A good way to get innovative ideas is to check out your competitors. What did they offer last year? Did they come up with special strategies to arouse increased interest in their brand? 

Time your campaign carefully

First you must determine the basic concept of your campaign. Think about your message and what you are trying to achieve. Then go into the timing, such as the dates when certain products will be promoted, as well as which social media platform you will be using and when (including Instagram, Pinterest, YouTube videos, Facebook, etc). Consider whether you want to add influencers and/or giveaways and contests to the mix. Determine when it is best to add seasonal Google Ad campaigns.

Start posting teasers as early as September and plan your posts carefully so that you build up anticipation and lead gradually up to your special surprises as the holidays grow nearer. 

Add one-time offers and surprise elements

When holding a contest, offer super prizes like a candlelit dinner for two, a romantic couple’s spa day, or bungee jumping for those who love competitive sports, depending on the age and entertainment preferences of your target audience. Create a “mystery box” that includes a random selection of your most popular products worth more than the price you are charging. 

Spoil your loyalty club members by offering a grand giveaway right before the holidays in addition to seasonal discounts and special, one-time offers. Create a sense of expectation and excitement to keep your audience riveted.

Use personalized content, creative videos and exciting pictures

Buyers are not interested in reading lengthy, general content. In order to engage customers you must deliver customized messages that prove your brand’s interest in them as well as providing a solution to their personal problem. 

Make a range of innovative videos, from “how tos” to new product showcasing, to customer testimonials. Create a series of clever Instagram stories and upload a variety of exciting pictures to pique curiosity and interest. Come up with a creative holiday theme such as nostalgia, new year resolutions, lifestyle changes, social responsibility or collections. Build on them to create a productive, long-term bond with prospective customers.

Think outside-of-the-box

Don’t be afraid to let your imagination go a bit wild when it comes to holiday campaigns. To snag weary consumers’ interest, you need to stand out. Try some exciting new stuff related to unique content, humor, surprises and prizes, and see how it all goes down. May the force be with you!

Image courtesy of kjpargeter

 

The post Start the Countdown for Your 2019/2020 Holiday Season Campaign first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/08/26/start-the-countdown-for-your-2019-2020-holiday-season-campaign/feed/ 0 The Inevitable Rise of Contactless Payments https://www.bm2pay.com/2019/08/12/the-inevitable-rise-of-contactless-payments/ https://www.bm2pay.com/2019/08/12/the-inevitable-rise-of-contactless-payments/#respond Mon, 12 Aug 2019 05:00:46 +0000 https://www.bm2pay.com/?p=3480 Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal. This type of transaction is frictionless and fast, as no PIN or signature is required. How does contactless payment work? Contactless credit and debit cards use a combination of traditional EMV chips, along with a contactless chip and RFID antenna. In the case of digital wallets, the smartphone contains a pair of chips, one that accesses and encrypts the card information, and the other, a near-field communication chip that transmits the card data to complete the transaction. The digital wallet is installed on a mobile device, enabling users to manage funds and pay with their credit card accounts. Tap-and-pay worldwide Europe is the global leader in the use of contactless cards with nearly one in two transactions contactless. In the UK, the number of contactless transactions rose by 31% in 2018 when compared to the previous year. According to the UK Trade Association, eight out of ten debit cards and six out of ten credit cards are contactless today. The use of contactless cards has received a major boost in the UK since 2015, when the London Transport System began accepting contactless payments. In Canada and CEMEA (Central Europe, Middle East and Africa), nearly 60% of face-to-face transactions are concluded with a tap. In Asia Pacific, contactless payments constitute more than one-third of face-to-face transactions. Contactless payments in the US Up until recently, the US has lagged behind Europe when it comes to contactless payments. However, at the end of May, New York became the first US city to enable subway and bus riders to start tapping a contactless bank card or their mobile wallet to pay fares. The adoption of tap-and-pay technology in cities like Boston, Chicago and San Diego should give contactless payment further impetus. Issuers jump on the bandwagon Visa has announced that it expects 100 million of its cards to be contactless by the end of this year. The network’s real-time debit service Visa Direct is said to be driving usage and expanding use cases and geographies. JPMorgan Chase & Co. stated that it has already issued 20 million contactless Visa credit cards as part of a rollout that began earlier this year. The bank added that tap-and-go debit cards will be on offer later in the year. Wells Fargo and Bank of America are also expected to start issuing tap-and-pay cards in 2019. Payment ease reigns supreme The rising popularity of contactless payments is inevitable, and is certainly not a passing trend. Today’s customers demand easy payments as a matter of course. As they carry their smartphones everywhere and utilize them for multiple purposes, it only makes sense that they will aspire to use them to complete transactions with super fast checkouts and a single tap. So contactless will definitely play a major role in payments in the years to come.     

The post The Inevitable Rise of Contactless Payments first appeared on Bm2Pay.]]> Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal. This type of transaction is frictionless and fast, as no PIN or signature is required.

How does contactless payment work?

Contactless credit and debit cards use a combination of traditional EMV chips, along with a contactless chip and RFID antenna. In the case of digital wallets, the smartphone contains a pair of chips, one that accesses and encrypts the card information, and the other, a near-field communication chip that transmits the card data to complete the transaction. The digital wallet is installed on a mobile device, enabling users to manage funds and pay with their credit card accounts.

Tap-and-pay worldwide

Europe is the global leader in the use of contactless cards with nearly one in two transactions contactless. In the UK, the number of contactless transactions rose by 31% in 2018 when compared to the previous year. According to the UK Trade Association, eight out of ten debit cards and six out of ten credit cards are contactless today. The use of contactless cards has received a major boost in the UK since 2015, when the London Transport System began accepting contactless payments.

In Canada and CEMEA (Central Europe, Middle East and Africa), nearly 60% of face-to-face transactions are concluded with a tap. In Asia Pacific, contactless payments constitute more than one-third of face-to-face transactions.

Contactless payments in the US

Up until recently, the US has lagged behind Europe when it comes to contactless payments. However, at the end of May, New York became the first US city to enable subway and bus riders to start tapping a contactless bank card or their mobile wallet to pay fares. The adoption of tap-and-pay technology in cities like Boston, Chicago and San Diego should give contactless payment further impetus.

Issuers jump on the bandwagon

Visa has announced that it expects 100 million of its cards to be contactless by the end of this year. The network’s real-time debit service Visa Direct is said to be driving usage and expanding use cases and geographies.

JPMorgan Chase & Co. stated that it has already issued 20 million contactless Visa credit cards as part of a rollout that began earlier this year. The bank added that tap-and-go debit cards will be on offer later in the year. Wells Fargo and Bank of America are also expected to start issuing tap-and-pay cards in 2019.

Payment ease reigns supreme

The rising popularity of contactless payments is inevitable, and is certainly not a passing trend. Today’s customers demand easy payments as a matter of course. As they carry their smartphones everywhere and utilize them for multiple purposes, it only makes sense that they will aspire to use them to complete transactions with super fast checkouts and a single tap. So contactless will definitely play a major role in payments in the years to come.     

The post The Inevitable Rise of Contactless Payments first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/08/12/the-inevitable-rise-of-contactless-payments/feed/ 0 Happy Holidays for Retailers and Customers https://www.bm2pay.com/2019/07/29/happy-holidays-for-retailers-and-customers/ https://www.bm2pay.com/2019/07/29/happy-holidays-for-retailers-and-customers/#respond Mon, 29 Jul 2019 05:00:02 +0000 https://www.bm2pay.com/?p=3599 Holidays are the best times to arouse interest in your products, lure in purchasers, and make special offers. But why wait for major holidays to attract customers? Here are several upcoming holidays that intrepid retailers can use to attract new customers and reconnect with return buyers: August 26 – National Dog Day Founded by Colleen Paige in 2004, Dog Day was originally conceived as a day to show appreciation for service dogs and draw attention to the plight of abused dogs. Today, many Millennials have pet dogs. This is a day that dog owners will go out to buy sweaters and new toys for their pets, so retailers with pet stores and online doggie products should advertise special sales on their websites and social media well in advance.  September 8 – National Grandparents Day Recognized as a US holiday since 1973, National Grandparents Day is a time to pay respect to grandparents, recognize the impact of the elderly on the lives of the young, and enable grandparents to lavish love on their grandchildren. This day is celebrated in many countries worldwide, though not on the same date. Retailers may take advantage of this day by offering discounts on a variety of gifts for the elderly.  Some people throw parties for their grandparents, so discounts on cakes, favorite foods and decorated paper products are in order. Flower arrangements are also popular gifts.  September 29 – National Coffee Day Coffee Day is celebrated all over the world. Many businesses offer free coffee on this day and pass coupons for free or reduced cups of coffee. This is the day to buy yourself or other coffee lovers their favorite beans.  Coffee shop and restaurant owners can offer special discounts on meals accompanied by coffee, and an array of exotic types of coffee at holiday rates.   October 3 – National Boyfriend Day While National Boyfriend Day is not an official holiday, you’ll be relieved to learn that it has a counterpart (Girlfriend Day) on August 1. This is a day to cherish one’s significant other.  A wide range of retailers can take advantage of this holiday by offering special gifts for men, both young and old. Whether the guy’s dream gift is a fishing rod or a cool electronic gadget, advertise your special gift choices in advance in-store, online and via social media. October 29 – National Cat Day Not to leave the felines out, Colleen Paige created National Cat Day in 2005. This day advocates animal welfare and celebrates the love cats and humans have shared for centuries. This is a perfect opportunity for pet-shop retailers to offer treats and toys for cats. Cat owners can have a portrait taken of their cat and buy them special meals to celebrate. Creative retailers can offer sales on other products for cat lovers, from new beds to soft blankets and special pillows.  Cause for Celebration There are several well-known holidays just around the corner like Columbus Day, Halloween, Thanksgiving and Christmas. But by celebrating and commemorating minor holidays on your website and in your physical store, you are connecting with your customers, keeping them involved, and bringing them back for more.   Image courtesy of macrovector

The post Happy Holidays for Retailers and Customers first appeared on Bm2Pay.]]> Holidays are the best times to arouse interest in your products, lure in purchasers, and make special offers. But why wait for major holidays to attract customers?

Here are several upcoming holidays that intrepid retailers can use to attract new customers and reconnect with return buyers:

August 26 – National Dog Day

Founded by Colleen Paige in 2004, Dog Day was originally conceived as a day to show appreciation for service dogs and draw attention to the plight of abused dogs. Today, many Millennials have pet dogs. This is a day that dog owners will go out to buy sweaters and new toys for their pets, so retailers with pet stores and online doggie products should advertise special sales on their websites and social media well in advance. 

September 8 – National Grandparents Day

Recognized as a US holiday since 1973, National Grandparents Day is a time to pay respect to grandparents, recognize the impact of the elderly on the lives of the young, and enable grandparents to lavish love on their grandchildren. This day is celebrated in many countries worldwide, though not on the same date.

Retailers may take advantage of this day by offering discounts on a variety of gifts for the elderly.  Some people throw parties for their grandparents, so discounts on cakes, favorite foods and decorated paper products are in order. Flower arrangements are also popular gifts. 

September 29 – National Coffee Day

Coffee Day is celebrated all over the world. Many businesses offer free coffee on this day and pass coupons for free or reduced cups of coffee. This is the day to buy yourself or other coffee lovers their favorite beans. 

Coffee shop and restaurant owners can offer special discounts on meals accompanied by coffee, and an array of exotic types of coffee at holiday rates. 

 October 3 – National Boyfriend Day

While National Boyfriend Day is not an official holiday, you’ll be relieved to learn that it has a counterpart (Girlfriend Day) on August 1. This is a day to cherish one’s significant other. 

A wide range of retailers can take advantage of this holiday by offering special gifts for men, both young and old. Whether the guy’s dream gift is a fishing rod or a cool electronic gadget, advertise your special gift choices in advance in-store, online and via social media.

October 29 – National Cat Day

Not to leave the felines out, Colleen Paige created National Cat Day in 2005. This day advocates animal welfare and celebrates the love cats and humans have shared for centuries.

This is a perfect opportunity for pet-shop retailers to offer treats and toys for cats. Cat owners can have a portrait taken of their cat and buy them special meals to celebrate. Creative retailers can offer sales on other products for cat lovers, from new beds to soft blankets and special pillows. 

Cause for Celebration

There are several well-known holidays just around the corner like Columbus Day, Halloween, Thanksgiving and Christmas. But by celebrating and commemorating minor holidays on your website and in your physical store, you are connecting with your customers, keeping them involved, and bringing them back for more.

 

Image courtesy of macrovector
The post Happy Holidays for Retailers and Customers first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/07/29/happy-holidays-for-retailers-and-customers/feed/ 0 Will Cryptocurrencies Replace Conventional Currencies? https://www.bm2pay.com/2019/07/16/will-cryptocurrencies-replace-conventional-currencies/ https://www.bm2pay.com/2019/07/16/will-cryptocurrencies-replace-conventional-currencies/#respond Tue, 16 Jul 2019 05:00:19 +0000 https://www.bm2pay.com/?p=3495 Techopedia defines cryptocurrency as a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.  As opposed to fiat currency, cryptocurrency is not connected to governments or central banks. Using a ledger system, cryptocurrency transactions are anonymous and decentralized. Bitcoin’s value, for example, is determined by demand and market supply at any given time, much like precious metals. Due to the fact that no government regulations apply to cryptocurrency and transactions are untraceable, there is a risk of abuse of the system for illegal activities including terror funding and drug trafficking. Some advantages of using cryptocurrency for payments Despite the risks, cryptocurrencies have several significant advantages as well: Lower fees When utilizing credit and debit cards, and handling transfers, foreign transactions, false declines and many other types of financial activities, there are fees involved. These fees tend to mount up and become quite costly. Cryptocurrency payment gateways charge only 0.5 to 1% per transaction. Most cryptocurrency accounts that take the form of a digital wallet are free. No chargebacks One of the major banes of credit card use for payments is chargebacks.The cancellation of credit card transactions by purchasers can be extremely costly for merchants. But when it comes to cryptocurrency transactions, the basic rule is that they cannot be reversed.  Securing personal data Consumers are concerned about how retailers, service providers and financial institutions retain extensive amounts of sensitive personal data from an individual’s name, address and email to credit scores and net worth. When performing cryptocurrency transactions, data is converted into numbers, or cryptocurrency wallet addresses, so private information is not revealed.  Cross-border payments Cryptocurrency payments are not classified according to countries. There are no cross-border fees, and no limitations on accessing funds. As banks and credit card companies are not involved, users can make payments, pay bills and shop independently. More service providers and retailers are accepting cryptocurrency Cryptocurrency acceptance is becoming more widespread among large service providers and retailers. AT&T recently became the first mobile carrier to accept bill payments in cryptocurrency. The Shopify ecommerce platform allows its merchants to accept Bitcoin payments through BitPay. Microsoft permits users to deposit Bitcoin in their Microsoft accounts for the purchase of movies, games and apps in the Windows and Xbox stores. The large retailer Overstock has been accepting Bitcoins and other major cryptocurrencies since 2014. Paypal also allows merchants to accept Bitcoin through Braintree. There are many small businesses that are accepting cryptocurrency payments today.   What lies in the future for cryptocurrencies? Cryptocurrencies like Bitcoin lack basic stability because they are not a pegged currency. By nature, they are more like a commodity asset for trading like precious metals. Some enterprises (like Facebook) are introducing stablecoins which are pegged to certain currencies, thereby securely anchoring cryptocurrency. But this would stand in contradiction to the decentralized (and uncontrolled) nature of cryptocurrency. COTI recently developed the world’s first DAG (directed acryclic graph) protocol for creating decentralized payment networks and stable coins. Other technologies are expected to emerge and innovate cryptocurrency norms. Time will tell what form cryptocurrency payments will ultimately take.      Image by Rawpixel.com

The post Will Cryptocurrencies Replace Conventional Currencies? first appeared on Bm2Pay.]]> Techopedia defines cryptocurrency as a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals. 

As opposed to fiat currency, cryptocurrency is not connected to governments or central banks. Using a ledger system, cryptocurrency transactions are anonymous and decentralized. Bitcoin’s value, for example, is determined by demand and market supply at any given time, much like precious metals. Due to the fact that no government regulations apply to cryptocurrency and transactions are untraceable, there is a risk of abuse of the system for illegal activities including terror funding and drug trafficking.

Some advantages of using cryptocurrency for payments

Despite the risks, cryptocurrencies have several significant advantages as well:

  • Lower fees

When utilizing credit and debit cards, and handling transfers, foreign transactions, false declines and many other types of financial activities, there are fees involved. These fees tend to mount up and become quite costly. Cryptocurrency payment gateways charge only 0.5 to 1% per transaction. Most cryptocurrency accounts that take the form of a digital wallet are free.

  • No chargebacks

One of the major banes of credit card use for payments is chargebacks.The cancellation of credit card transactions by purchasers can be extremely costly for merchants. But when it comes to cryptocurrency transactions, the basic rule is that they cannot be reversed. 

  • Securing personal data

Consumers are concerned about how retailers, service providers and financial institutions retain extensive amounts of sensitive personal data from an individual’s name, address and email to credit scores and net worth. When performing cryptocurrency transactions, data is converted into numbers, or cryptocurrency wallet addresses, so private information is not revealed. 

  • Cross-border payments

Cryptocurrency payments are not classified according to countries. There are no cross-border fees, and no limitations on accessing funds. As banks and credit card companies are not involved, users can make payments, pay bills and shop independently.

More service providers and retailers are accepting cryptocurrency

Cryptocurrency acceptance is becoming more widespread among large service providers and retailers. AT&T recently became the first mobile carrier to accept bill payments in cryptocurrency. The Shopify ecommerce platform allows its merchants to accept Bitcoin payments through BitPay.

Microsoft permits users to deposit Bitcoin in their Microsoft accounts for the purchase of movies, games and apps in the Windows and Xbox stores. The large retailer Overstock has been accepting Bitcoins and other major cryptocurrencies since 2014. Paypal also allows merchants to accept Bitcoin through Braintree. There are many small businesses that are accepting cryptocurrency payments today.  

What lies in the future for cryptocurrencies?

Cryptocurrencies like Bitcoin lack basic stability because they are not a pegged currency. By nature, they are more like a commodity asset for trading like precious metals. Some enterprises (like Facebook) are introducing stablecoins which are pegged to certain currencies, thereby securely anchoring cryptocurrency. But this would stand in contradiction to the decentralized (and uncontrolled) nature of cryptocurrency.

COTI recently developed the world’s first DAG (directed acryclic graph) protocol for creating decentralized payment networks and stable coins. Other technologies are expected to emerge and innovate cryptocurrency norms. Time will tell what form cryptocurrency payments will ultimately take.   

 

Image by Rawpixel.com
The post Will Cryptocurrencies Replace Conventional Currencies? first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/07/16/will-cryptocurrencies-replace-conventional-currencies/feed/ 0 Off-to-college Sales Tips for Online Retailers https://www.bm2pay.com/2019/06/18/off-to-college-sales-tips-for-online-retailers/ https://www.bm2pay.com/2019/06/18/off-to-college-sales-tips-for-online-retailers/#respond Tue, 18 Jun 2019 05:00:24 +0000 https://www.bm2pay.com/?p=3076 While off-to-college shoppers may prefer to procrastinate and leave their purchases to the last minute, online retailers need to prepare strategy and sales campaigns months in advance. As back-to-school is the second largest shopping event of the year after the holidays, it pays to have your offerings in place in good time. Total spending for K-12 schools and college combined reached almost $83 billion last year. Parents with young people heading to college as well as undergraduate and graduate students purchasing for themselves said that they planned to spend an average $942.17 each. What do you need for an effective off-to-college campaign? Keep in mind that budgets are limited and students generally cannot afford to splurge on necessary items. They also may not have a good deal of time to shop or could be uncertain about what they will need. As part of your strategy, try to be as helpful as possible, provide useful tips, and offer special discounts. Here are several steps you can take to attract these young customers: Set up a designated off-to-college section on your website A good way to attract potential customers is to set up a separate section on your website with all your off-to-school items and promotions. Make sure to insert a banner on the home page featuring special offers and send buyers directly to the relevant page. Boost sales on social media Social media is a prime location to boost promotions for college purchases because that is where most of your customers are spending their time. Use Instagram to show colorful photos of your display and interact with potential customers on Facebook. Make sure your mobile app is up to par and responsive, with exciting images of your products. Be creative and prepare videos on how to set up an attractive dorm room affordably. Offer student discounts Many businesses offer special student discounts on a wide range of products. Discounts can range anywhere between 15 and 50%. There are various ways to verify that the individual requesting the discount is actually a student. If you offer these customers discounts on a regular basis they are likely to return for repeat shopping. Provide free and convenient shipping options It’s important to offer free and fast shipping, as well as flexible pick-up policies. You should also enable customers to shop now but deliver later. Some stores offer “shop online and pick up in store” possibilities with a significant discount. Target provides a drive up option which enables customers to shop for items from the store’s app and have a store team member deliver them directly to the purchaser’s vehicle. Amazon, for example, has lockers on or near campuses for easy pick ups at convenient locations.. Put together a checklist and enable reorders Set up a college checklist with popular items students usually purchase and display pictures of useful products that you sell such as dorm room necessities. Target goes so far as to offer a college registry option with special discounts. To ensure repeat customers, send out reorder reminders and offer special discounts and rapid delivery on group orders. In order to stand out, you need to offer unique rewards and special features that will attract young people to your website. Perhaps you should try to put yourself in their sneakers and mull a bit about what you would want if you were setting off for college.   Image courtesy of macrovector

The post Off-to-college Sales Tips for Online Retailers first appeared on Bm2Pay.]]> While off-to-college shoppers may prefer to procrastinate and leave their purchases to the last minute, online retailers need to prepare strategy and sales campaigns months in advance. As back-to-school is the second largest shopping event of the year after the holidays, it pays to have your offerings in place in good time.

Total spending for K-12 schools and college combined reached almost $83 billion last year. Parents with young people heading to college as well as undergraduate and graduate students purchasing for themselves said that they planned to spend an average $942.17 each.

What do you need for an effective off-to-college campaign?

Keep in mind that budgets are limited and students generally cannot afford to splurge on necessary items. They also may not have a good deal of time to shop or could be uncertain about what they will need.

As part of your strategy, try to be as helpful as possible, provide useful tips, and offer special discounts. Here are several steps you can take to attract these young customers:

  • Set up a designated off-to-college section on your website

A good way to attract potential customers is to set up a separate section on your website with all your off-to-school items and promotions. Make sure to insert a banner on the home page featuring special offers and send buyers directly to the relevant page.

  • Boost sales on social media

Social media is a prime location to boost promotions for college purchases because that is where most of your customers are spending their time. Use Instagram to show colorful photos of your display and interact with potential customers on Facebook. Make sure your mobile app is up to par and responsive, with exciting images of your products. Be creative and prepare videos on how to set up an attractive dorm room affordably.

  • Offer student discounts

Many businesses offer special student discounts on a wide range of products. Discounts can range anywhere between 15 and 50%. There are various ways to verify that the individual requesting the discount is actually a student. If you offer these customers discounts on a regular basis they are likely to return for repeat shopping.

  • Provide free and convenient shipping options

It’s important to offer free and fast shipping, as well as flexible pick-up policies. You should also enable customers to shop now but deliver later. Some stores offer “shop online and pick up in store” possibilities with a significant discount. Target provides a drive up option which enables customers to shop for items from the store’s app and have a store team member deliver them directly to the purchaser’s vehicle. Amazon, for example, has lockers on or near campuses for easy pick ups at convenient locations..

  • Put together a checklist and enable reorders

Set up a college checklist with popular items students usually purchase and display pictures of useful products that you sell such as dorm room necessities. Target goes so far as to offer a college registry option with special discounts. To ensure repeat customers, send out reorder reminders and offer special discounts and rapid delivery on group orders.

In order to stand out, you need to offer unique rewards and special features that will attract young people to your website. Perhaps you should try to put yourself in their sneakers and mull a bit about what you would want if you were setting off for college.

 

Image courtesy of macrovector
The post Off-to-college Sales Tips for Online Retailers first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/06/18/off-to-college-sales-tips-for-online-retailers/feed/ 0 CONTACTLESS PAYMENTS https://www.bm2pay.com/2019/06/13/contactless-payments/ https://www.bm2pay.com/2019/06/13/contactless-payments/#respond Thu, 13 Jun 2019 07:54:31 +0000 https://www.bm2pay.com/?p=3484 Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal.   This type of payment method can also be used via a smartphone, without any need to pull out a credit or debit card, provide a PIN or a signature. Today’s purchasers expect all transactions to be frictionless and fast, so contactless payments will inevitably become more widespread in the years to come.  READ MORE: THE INEVITABLE RISE OF CONTACTLESS PAYMENTS Image courtesy of Freepik

The post CONTACTLESS PAYMENTS first appeared on Bm2Pay.]]> Investopedia defines contactless payments as a secure method for consumers to purchase products or services via debit, credit or smartcards (also known as chip cards), by using RFID technology or near-field communication (NFC). When making a contactless payment, the user taps their card near a point-of-sale terminal.  

This type of payment method can also be used via a smartphone, without any need to pull out a credit or debit card, provide a PIN or a signature. Today’s purchasers expect all transactions to be frictionless and fast, so contactless payments will inevitably become more widespread in the years to come. 

READ MORE:

THE INEVITABLE RISE OF CONTACTLESS PAYMENTS

Image courtesy of Freepik
The post CONTACTLESS PAYMENTS first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/06/13/contactless-payments/feed/ 0 A Guide To Global Holidays And Gift-giving https://www.bm2pay.com/2019/05/28/a-guide-to-global-holidays-and-gift-giving/ https://www.bm2pay.com/2019/05/28/a-guide-to-global-holidays-and-gift-giving/#respond Tue, 28 May 2019 05:00:13 +0000 https://www.bm2pay.com/?p=3247 Holidays seasons all over the world are prime times for gift giving and present the perfect opportunity to boost revenues and develop brand loyalty. Our  new e-book  provides a guide to holidays worldwide, the gift recipients, and the most popular types of presents given on each occasion. Read A Guide to Global Holidays and Gift-giving to gain a better understanding of your cutomers’ cultures and buying preferences worldwide. Learn how to boost sales at high seasons and generate brand loyalty and return shoppers.   Read A Guide to Global Holidays and Gift-giving

The post A Guide To Global Holidays And Gift-giving first appeared on Bm2Pay.]]> Holidays seasons all over the world are prime times for gift giving and present the perfect opportunity to boost revenues and develop brand loyalty.

Our  new e-book  provides a guide to holidays worldwide, the gift recipients, and the most popular types of presents given on each occasion.

Read A Guide to Global Holidays and Gift-giving to gain a better understanding of your cutomers’ cultures and buying preferences worldwide. Learn how to boost sales at high seasons and generate brand loyalty and return shoppers.

 

Read A Guide to Global Holidays and Gift-giving

The post A Guide To Global Holidays And Gift-giving first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/05/28/a-guide-to-global-holidays-and-gift-giving/feed/ 0 Key Tips on How to Target Your Audiences https://www.bm2pay.com/2019/05/22/key-tips-on-how-to-target-your-audiences/ https://www.bm2pay.com/2019/05/22/key-tips-on-how-to-target-your-audiences/#respond Wed, 22 May 2019 05:14:48 +0000 https://www.bm2pay.com/?p=3211 In a highly competitive e-commerce market, you need to accurately define your target audiences and understand where and how to engage them. Our new e-book provides a comprehensive guide to e-commerce by generations. How and where should you address each segment? What are your customers’ shopping habits, which are their preferences, and what channels should you use to engage them? Key Tips on How to Target Your Audiences provides you with useful tips on how to best interact with your audiences to generate long-term loyalty and return customers.   Read Key Tips on How to Target Your Audiences.

The post Key Tips on How to Target Your Audiences first appeared on Bm2Pay.]]> In a highly competitive e-commerce market, you need to accurately define your target audiences and understand where and how to engage them.

Our new e-book provides a comprehensive guide to e-commerce by generations. How and where should you address each segment? What are your customers’ shopping habits, which are their preferences, and what channels should you use to engage them?

Key Tips on How to Target Your Audiences provides you with useful tips on how to best interact with your audiences to generate long-term loyalty and return customers.

 

Read Key Tips on How to Target Your Audiences.

The post Key Tips on How to Target Your Audiences first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/05/22/key-tips-on-how-to-target-your-audiences/feed/ 0 The Unique Appeal of Asian E-commerce Markets https://www.bm2pay.com/2019/04/23/the-unique-appeal-of-asian-e-commerce-markets/ https://www.bm2pay.com/2019/04/23/the-unique-appeal-of-asian-e-commerce-markets/#respond Tue, 23 Apr 2019 05:00:53 +0000 https://www.bm2pay.com/?p=2639 The Asian e-commerce market is booming, and it is projected to grow to $1.6t by 2021. China’s online sales are expected to increase annually by 16.1% to $1.122t in 2021.South Korea’s e-commerce sales are predicted to rise by 11.9% annually to $50.7b in 2021. India is also an important market to watch out for as it is projected to leap from $35.62m in e-commerce sales to $82.7b in 2021, enabling it to claim the third place in Asia in terms of market share. All this data sounds very enticing, and the opportunities appear to be endless. However, before entering these promising markets, make sure to study each of them carefully. Despite their geographic proximity, local purchasing habits and payment mentalities vary widely in Asian countries: South Korea There are 30.5 million e-commerce users in South Korea, and an additional 1.33 million users are predicted to shop online by 2021. Four years down the road, these e-commerce users are expected to spend an average of $1023 on online purchases. Today, over a third of South Koreans spend more than half of their monthly income on online shopping. Due to the popularity of mobile phones and social media, online retailers would do well to reach out to potential customers there. South Korean payment preferences Electronic payments are very popular in South Korea. Social media payment methods are widespread, with 34% of shoppers using them for mobile online shopping. Bank payment apps are also a preferred payment method among 29% of the population. South Koreans favor alternative payment methods, wire transfers and electronic fund transfers. Native Samsung Pay is popular as well. South Koreans of all ages use the Internet constantly. According to eshopworld, 96% of 16-24 year-olds, 100% of 25-34 year-olds, and 98% of 35-44 year-olds log on daily. Favorite online purchasing categories include fashion, toys, hobbies, DIY, online travel and home appliances. China China scored third in Fitch Solutions’ Global E-commerce Index. Its e-commerce sales are projected to grow annually by 16.1% to $1.122t in 2021. The e-commerce market is led by the Alibaba Group and its online commerce subsidiaries: Taobao, Alibaba, Tmail, Fliggy Corporate, 11 Main and AliExpress. In 2017, e-commerce represented $672 billion in terms of sales and 15.9% of the country’s share of total retail sales. Internet penetration in China currently stands at 53%, and it is expected to expand to 68% by 2021. Smartphone penetration is 44% and it is projected to grow to 53% by 2021. Today there are 589 million e-commerce users in China. By 2021, an additional 254 million users will join these online shoppers. E-commerce users are expected to constitute 74% of the total population. The average user currently spends $799 online, and this sum is expected to rise to $995 by 2021. Interestingly, South Korea is the leading exporter to China with $131 billion in merchandise. Next come the US ($128 billion), Japan ($116 billion), Germany ($78.6 billion) and other Asian countries ($73.4 billion). Chinese payment preferences As opposed to India, for example, the Chinese are not very worried by data privacy issues when paying online. They are used to the government’s involvement in their personal lives. China leads the world when it comes to the use of alternative payments. E-wallets like Alipay or WeChat Pay account for 62% of the market share in China. Union Pay covers nearly 24% of the market. Lagging behind are credit cards (10%), bank transfers (8%), and cash on delivery (8%). Bank transfers are expected to replace credit cards as China’s second most popular payment method by 2021. Debit cards are predicted to rise from 4.5% to 7.1%. India India is the fastest growing market in the e-commerce sector. Revenue from online sales is expected to reach $120 billion by 2020, constituting a staggering annual growth rate of 51%. E-commerce growth is being spurred by a combination of rising smartphone penetration and the launch of 4G networks. Some 40% of the population used the Internet last year, with an estimated 48% shopping online. In practical terms, this means there are 224 million online shoppers in India. By expanding into new sectors, e-commerce market leaders Flipkart, Amazon and Paytm Mall have given online sales a major boost. When buying domestically and even cross-border, online shoppers in India generally buy inexpensive items such as clothing and shoes, mobile phones and toys. 66% of online shoppers only purchase items domestically, while 27% shop online both domestically and cross-border. Indian payment preferences Indian purchasers have privacy concerns and they lack trust in online payment security. Nor do they trust consumer reviews or product ratings. Outlying rural areas suffer from poor logistics and delivery, and large parts of the population in those regions are unbanked. A significant section of the population (45%) prefers cash on delivery as a preferred method of payment. Debit cards claim some 17% of the market, followed by credit cards (12%) and online banking (9%). Mobile wallets are becoming increasingly popular and are expected to claim 15% of the market by 2020.   Photo courtesy of lifeforstock

The post The Unique Appeal of Asian E-commerce Markets first appeared on Bm2Pay.]]> South Korea There are 30.5 million e-commerce users in South Korea, and an additional 1.33 million users are predicted to shop online by 2021. Four years down the road, these e-commerce users are expected to spend an average of $1023 on online purchases. Today, over a third of South Koreans spend more than half of their monthly income on online shopping. Due to the popularity of mobile phones and social media, online retailers would do well to reach out to potential customers there.
South Korean payment preferences
Electronic payments are very popular in South Korea. Social media payment methods are widespread, with 34% of shoppers using them for mobile online shopping. Bank payment apps are also a preferred payment method among 29% of the population. South Koreans favor alternative payment methods, wire transfers and electronic fund transfers. Native Samsung Pay is popular as well. South Koreans of all ages use the Internet constantly. According to eshopworld, 96% of 16-24 year-olds, 100% of 25-34 year-olds, and 98% of 35-44 year-olds log on daily. Favorite online purchasing categories include fashion, toys, hobbies, DIY, online travel and home appliances.

China

China scored third in Fitch Solutions’ Global E-commerce Index. Its e-commerce sales are projected to grow annually by 16.1% to $1.122t in 2021. The e-commerce market is led by the Alibaba Group and its online commerce subsidiaries: Taobao, Alibaba, Tmail, Fliggy Corporate, 11 Main and AliExpress. In 2017, e-commerce represented $672 billion in terms of sales and 15.9% of the country’s share of total retail sales. Internet penetration in China currently stands at 53%, and it is expected to expand to 68% by 2021. Smartphone penetration is 44% and it is projected to grow to 53% by 2021. Today there are 589 million e-commerce users in China. By 2021, an additional 254 million users will join these online shoppers. E-commerce users are expected to constitute 74% of the total population. The average user currently spends $799 online, and this sum is expected to rise to $995 by 2021. Interestingly, South Korea is the leading exporter to China with $131 billion in merchandise. Next come the US ($128 billion), Japan ($116 billion), Germany ($78.6 billion) and other Asian countries ($73.4 billion).
Chinese payment preferences
As opposed to India, for example, the Chinese are not very worried by data privacy issues when paying online. They are used to the government’s involvement in their personal lives. China leads the world when it comes to the use of alternative payments. E-wallets like Alipay or WeChat Pay account for 62% of the market share in China. Union Pay covers nearly 24% of the market. Lagging behind are credit cards (10%), bank transfers (8%), and cash on delivery (8%). Bank transfers are expected to replace credit cards as China’s second most popular payment method by 2021. Debit cards are predicted to rise from 4.5% to 7.1%.

India

India is the fastest growing market in the e-commerce sector. Revenue from online sales is expected to reach $120 billion by 2020, constituting a staggering annual growth rate of 51%. E-commerce growth is being spurred by a combination of rising smartphone penetration and the launch of 4G networks. Some 40% of the population used the Internet last year, with an estimated 48% shopping online. In practical terms, this means there are 224 million online shoppers in India. By expanding into new sectors, e-commerce market leaders Flipkart, Amazon and Paytm Mall have given online sales a major boost. When buying domestically and even cross-border, online shoppers in India generally buy inexpensive items such as clothing and shoes, mobile phones and toys. 66% of online shoppers only purchase items domestically, while 27% shop online both domestically and cross-border.
Indian payment preferences
Indian purchasers have privacy concerns and they lack trust in online payment security. Nor do they trust consumer reviews or product ratings. Outlying rural areas suffer from poor logistics and delivery, and large parts of the population in those regions are unbanked. A significant section of the population (45%) prefers cash on delivery as a preferred method of payment. Debit cards claim some 17% of the market, followed by credit cards (12%) and online banking (9%). Mobile wallets are becoming increasingly popular and are expected to claim 15% of the market by 2020.  
Photo courtesy of lifeforstock
The post The Unique Appeal of Asian E-commerce Markets first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/04/23/the-unique-appeal-of-asian-e-commerce-markets/feed/ 0 Your Global Guide to Payment Preferences https://www.bm2pay.com/2019/03/28/your-global-guide-to-payment-preferences/ https://www.bm2pay.com/2019/03/28/your-global-guide-to-payment-preferences/#respond Thu, 28 Mar 2019 06:00:34 +0000 https://www.bm2pay.com/?p=2727 When scaling to global markets, payments have a huge impact on sales. Foreign customers prefer local payment methods and may abandon their shopping carts when they encounter unfamiliar online payment options. There are hundreds of localized payments methods all over the world and keeping track of them is no simple matter. Our new eBook A Merchant’s Guide to International Payments offers an overview of preferred payment methods in various geographies worldwide. Read A Merchant’s Guide to International Payments.

The post Your Global Guide to Payment Preferences first appeared on Bm2Pay.]]> When scaling to global markets, payments have a huge impact on sales. Foreign customers prefer local payment methods and may abandon their shopping carts when they encounter unfamiliar online payment options. There are hundreds of localized payments methods all over the world and keeping track of them is no simple matter.

Our new eBook A Merchant’s Guide to International Payments offers an overview of preferred payment methods in various geographies worldwide.

Read A Merchant’s Guide to International Payments.

The post Your Global Guide to Payment Preferences first appeared on Bm2Pay.]]> https://www.bm2pay.com/2019/03/28/your-global-guide-to-payment-preferences/feed/ 0