E-Payment

E-payment solutions for complex automated payment processes – especially involving cross-border transactions – are fundamental for a thriving online retail industry. Against this background, the credit card has established itself as a universal settlement method for e-payment. According to surveys, many merchants would like to broaden the range of payment products they offer their online customers. Credit card acceptance is an interesting proposition here, given its new role as the de facto standard for e-payment and its nonstop momentum, growth and ability to handle complex payment processes.

E-payment: driving forces

Our summary* shows how trends in the e-commerce sector are shaping today’s e-payment environment in Germany:

• The entire e-commerce market in 2010 accounted for €25 billion.
• Last year, twelve million Germans sold goods and services over the Internet. This corresponds to one in five Germans (19 percent) between 16 and 74 years of age.
• With a 60 percent-plus share, credit cards and cash in advance are the most frequently offered payment methods used by the Top 1,000 online shops regularly polled by the EHI retailing association.
• Top 1,000 companies which have offered the credit card as a payment method generate 71.7 percent of all e-commerce market turnover.
• Each merchant offers an average of 4 to 5 payment methods.
• Over three quarters of merchants have foreign customers according to an ibiresearch survey.
• 60 percent of merchants would like to integrate additional payment methods into their shops in the near future.

E-payment decisions

In a contribution on the e-payment methods used for international e-commerce in 2010, trade magazine Internet-World-Business wrote: “The shop operator must define the target groups and identify a service provider offering the necessary technology and services, and providing support in choosing a meaningful risk management strategy. Only then can the shop operator decide on a payment method. Despite many differences in the individual European markets, it is possible to make several fundamental assertions, one being: credit card acceptance is an absolute must for international shops.”

Use the opportunity to optimize your e-payment solution. We’ll show you how!