Friday, February 4, 2011

Payment methods for Multiply online stores

My first online store was launched about two years ago. Aside from deciding on what to name it, the other thing that really got me thinking was how I will handle payments from clients.

The payment scheme of an online store is more complex than those of regular stores. For example, when a client comes to your store at the mall, they simply pick what they want, go to the cashier and pay thru cash, gift certificate or credit card.

With just one click, your client can navigate away from your online store because she/he may find your payment methods too toilsome. An online store’s payment scheme must ensure that the clients can pay conveniently and, at the same time, protect your business from “bogus buyers”.

Give your clients an option to pay cash during meet-ups or pick-ups. To discourage bogus buyers, include in you store policies that a down payment, usually 50 percent of the total bill, is required before processing orders. This is highly recommended to online stores that offer made-to-order (MTO) items.

Globe G-Cash
IMOHO, Using G-Cash is now synonymous to online buying in the Philippines, the same way Paypal is for international e-commerce. Globe Business Centers and G-cash partners such as the SM Customer Service, selected outlets of Tambunting and Villarica Pawnshops, and 7-11 convenience stores abound in the metro and most provinces. Turning your cash to G-cash is fairly easy to both the buyer and seller. 

Money Transfer Facilities
LBC Express Peso Padala and Western Union are just two of the many reliable and safe money transfer facilities that have mushroomed all over the country. I recommend these two for clients who are based in provinces where there are hardly or no G-cash partners available.

Bank deposit
Paying thru bank deposit is the most safe payment method. It may require more effort on the part of your client but it can also boost his/her trust in your online store since you need to give your name and bank details. 

These are just my experience both as an online buyer and seller. The point is, as store owners, we need to provide a hassle-free experience to our clients. Keep them happy with every purchase and you will earn more.

1 comment:

  1. We're about to roll out the new features of Multiply soon. So no need to worry about the payment methods, we've got everything covered. Opening up a Multiply shop will be easier than ever :)


Related Posts Plugin for WordPress, Blogger...