Online solutions

An online shop is a website that retailers use to sell their goods on the Internet. To let potential customers browse products and services, an online shop uses a shop system. The purchase itself is an electronic transaction that takes place within the shop system; usually payment is cashless.

What are the benefits of an online shop over brick-and-mortar retailers?

There are quite a few advantages to running an online shop compared to a brick-and-mortar retail outlet. For one thing, online merchants don't need to rent any retail space. And online shops generally require less staff, which makes them cheaper to run. Another great advantage: Shopping isn't restricted to opening hours—your customers can shop in your online shop around the clock and from anywhere in the world! All they need is internet access.

What conditions should an online shop meet?

An online shop still has to meet a number of legal and technical requirements. But the more important thing: Your online shop should be as user-friendly as possible. First, your online shop should be easy and clear to navigate. Second, your offerings should be presented in a well ordered and attractive way. Finally, the checkout process should be convenient and inspire confidence. The right payment mix is the key here, allowing shoppers to choose their own personal preferred digital payment method.

ONLINE SOLUTIONS—DIGITAL PAYMENT METHODS

What does "e-payment" mean?

E-payment simply refers to all the various options for payment processing via the Internet. E-payment is particularly important for online shops, as it makes it easy for customers to pay for products and services bought online. Online shops benefit even more from the fact that these payment types offer protection from payment defaults, while at the same time generating as little costs as possible.

What are the most popular e-payment methods?

Besides purchase on account and SEPA Direct Debit, the most popular e-payment methods include credit cards, PayPal, online transfers with Sofortüberweisung, Giropay, and digital wallets, for example from Apple or Google. These days, customers are truly spoiled for choice among the plethora of e-payment methods—many of which are doomed to failure after a short time if they are unable to gain a foothold. This means that many online shoppers still have reservations about these new payment methods and tend to trust more traditional options such as the popular purchase on account or SEPA Direct Debit methods.

Why should merchants accept a mix of payment methods in their eCommerce business?

Customers are quick to abandon their shopping cart if your shop doesn't offer their favorite payment method. This clearly has a negative impact on sales. So it's all the more important for online shops to find the ideal mix of payment methods to satisfy as many potential buyers as possible. This means that choosing the right payment methods is crucial to ensure the success of your online shop. Many payment methods, such as purchase on account, installments, or SEPA Direct Debit, are very popular among consumers. For operators of online shops, payment options such as these come with a high risk of default. That's where payment service providers come in, allowing shop owners to offer their customers' favorite payment options and reduce the risk of default at the same time. It is considered the market standard today to offer customers 4 to 6 payment options. Credit checks prior to checkout can determine whether a potential purchaser has the necessary credit standing to be offered purchase on account or in installments. And with Unzer Payments, risk assessment is an included feature.

ONLINE SOLUTIONS—CHECKOUT

What is the checkout process?

Checkout just means the virtual cash register in eCommerce. It is the equivalent of a physical cash register in a brick-and-mortar store. During the checkout process, the buyer is directed from the shopping cart to a page where they select the payment method and enter the delivery address before finally completing the purchase.

How can I optimize the checkout process?

When the checkout process in your store is optimized, it makes it easier for the customer to make a purchase, thus reducing the number of abandoned shopping carts. Important factors for reducing the abandonment rate in your shop include having a wide range of payment methods available, transparent pricing, and measures to build trust at checkout. As a general rule, checkout should be as short a process as possible. Your customer should always know exactly where they are in the checkout process.

At checkout, I only see a blank page or a shop error. What's the problem?

This problem is usually caused when the payment system doesn't respond. Possible causes include:

• Your shop is in a local environment / local URL that cannot be resolved.
• Your shop is password protected (usually using htaccess). The payment system cannot get past this for a response.
• The connection data and sandbox mode need to match, i.e.
  test system connection data => sandbox mode = YES
  live system connection data => sandbox mode = NO

ONLINE SOLUTIONS—FEATURES

What is a fiduciary account?

A fiduciary account is an account where funds are held in trust for third parties and managed in their name. The account holder is not the owner of the funds in the account. The fiduciary (i.e. the entity managing the account) manages the account and is liable for the funds held there.

What are white label solutions in e-commerce?

White label solutions are products or services that were developed or created by one provider for integrated use on another website using the latter's look and feel, i.e. the layout and design of the white label solution is adapted to the user's brand.