E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
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Litle & Co. offers an array of services beyond credit and debit card processing, including recurring billing, alternative payments such as BillMeLater, electronic checks and PayPal, as well as international transaction processing.
Given the wide range of processor capabilities, retailers can leverage the expertise of payment service provides to close more sales through offering local and alternative payment types and fine-tuning their fraud-detection practices, and they can reduce costs by streamlining the payment chain. Understanding the technologies and techniques available can help an e-retailer find the best fit in a payment service provider partner.
“Payments are a large part of any successful e-retailer’s business strategy and can provide a competitive advantage,” says Vollebregt. “As a payment service provider, you have to understand the retailer’s business needs to provide the right platform, payment method mix and fraud screening tools.”