Internet Retail Therapy

There’s no doubt about the pick-me-up of going into a store and walking out with that perfect something. You smile smugly to yourself as you do your post-purchase analysis, bestowing congratulations on such a fine purchase. But does that same euphoric high occur when a purchase is made online? According to Nielsen/NetRatings the answer is ‘yes’ as 61% of adult New Zealanders regularly conduct online retail therapy each month. Not surprisingly, a proportionate number of online businesses are rethinking their E-commerce technology to capture this growing market.

It’s no longer enough to have a flashy information-based website. Online shoppers expect to hop online, do a quick price comparison and make an immediate purchase to curb their voracious retail appetite. Yet even with increasing consumer confidence, shoppers admittedly still need proof that their purchase will be secure from the dreaded credit card fraud and for others still, the ability to make their final purchase over the phone.

So where does the New Zealand online business turn for E-commerce technology; specifically to accept secure online payments and offer shoppers options in currencies and payments? The majority of current offerings require businesses to obtain both an online payment gateway (i.e. PayPro, PayPal, Paystation, DPS) to process payments in addition to a merchant bank account (i.e. National Bank, ANZ, ASB, Westpac, BNZ) to accept payments. The average cost of acquiring both accounts will set the retailer back around $280 to set-up with a $50 per month fee and a 5.6% commission fee with a $0.40 per transaction fee.

However, for those businesses wanting an integrated solution there’s WorldPay which combines both the payment gateway and merchant account. WorldPay offers retailers multi-currency transactions with the ability to receive 3 currencies of their choice, multiple payment options (online and offline), the latest security measures and an online customer management system. Through WebFarm, WorldPay’s accredited NZ partner, retailers get all this for $35 per month, a 3.95% commission fee, $0.18 online anti-fraud fee, and through 30 September 2007, the standard $250 set-up fee is waived.

WorldPay is a part of the Royal Bank of Scotland Group founded in 1727 and one of the tenth largest banking groups in the world. WebFarm is WorldPay’s accredited New Zealand partner. All WebFarm hosting plans come standard with a free shopping cart which is fully integrated with WorldPay. WebFarm has web hosting plans for all sizes, shopping carts, and secure certificates to grow with businesses. In addition, customers receive unlimited technical support from a knowledgeable team that will walk them through each step of the way. For more information on WorldPay and E-commerce please visit www.webfarm.co.nz or call 0800 WEBFARM.

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