e-commerce - What you need to know
If you are looking to launch an e-commerce website, there are several things you need to know. We have put together this list to help you understand the process.
What is e-commerce?
Put simply, e-commerce or electronic commerce, means you have a website that allows you to conduct online transactions. E-commerce allows your customers to purchase from you using credit cards, Google Check-out or PayPal.
How can my business benefit from e-commerce?
Having an e-commerce website gives you access to a global market. It gives your new customers and repeat customers and easy way to order form you. Also, with a strong Search Engine Marketing campaign you can build new customers all over the USA or the world. If you already have a brick and motor store, and e-commerce site greatly expands your audience. If you do not have an actual store, a virtual store will have a lower overhead than a conventional business.
What do I need to have an e-commerce store?
To successfully launch an online store, you require the following things:
- A Business Bank Account
- A Merchant Account
- A Payment Gateway
- A well-designed website with e-commerce capabilities and SSL
- Your Items listed on the website
- A return/cancellation policy
- Shipping services
- A plan to market your website like SEM
What is a Merchant Account?
A Merchant Account gives you the ability to accept credit card payments for goods and services. The Merchant Account allows you to perform transactions online in real time without any human intervention.
Where can I get a Merchant Account?
You can get a merchant account from your local bank or places like Quickbooks Online. You can choose any merchant account provider as long as they support the following payment methods: LinkPoint/Cardservice, Cybersource, Authorize.net and Verisign. Merchant Accounts may have set-up fees and will have monthly fees to process your information.
What information do I need before I start the Merchant Account application process?
- Social Security Number
- Direct Deposit Account and Routing Number (your bank should have this info)
- Tax Identification Number
- Average Ticket (Cost of your Most Expensive Product)
- Estimate Average Monthly Volume
What is a Payment Gateway?
A payment gateway is basically the same thing as a physical point of sale terminal in a retail store. Payment gateways offer many different services like authenticating credit card or electronic check transactions on the internet.
Payment gateways link the virtual terminal (your check out page) to the merchant account and the credit card organization securely.
Authroize.net is a common company used for payment gateways.
What is SSL?
SSL stands for Secure Socket Layer. SSL allows important information like credit card numbers to be encrypted and transferred securely via the web. When users access a site secured with SSL using Internet Explorer, a lock symbol displays in their browser indicating that the site is secure. You can purchase an SSL from someone like godaddy.com. When we build an e-commerce site, we include the SSL for you.
How much are e-commerce sites?
E-commerce sites range in price from $2,500 to $50,000 and more. Pricing depends on who builds your website, what back-end system you use and how many items you have. We would be happy to give you a custom quote based on what you are looking for. We pride ourselves on providing affordable e-commerce websites.
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